Economy Flashcards
What was Philip’s economic inheritance?
20 million ducats in external debt and an estimated 50 million in juros liabilities - Spain was virtually bankrupt.
Who were the Fuggers and how much was Philip indebted to them?
A German banking family that lent large sums of money to Philip - he owed them 5 million ducats.
When were Philip’s bankruptcies?
1557, 1560, 1576 and 1596
How did the building of the Escorial Palace cost?
5.5 million ducats
How much did the Armada cost?
10 million ducats - 900 000 per month
How much did crown income increase?
Tripled from 3 million ducats in 1559 to almost 10 million in the 1590s.
By how much was taxation increased?
Increased by 50% between 1556 and 70 and then by 90% between 1570 and 1600.
How much income was received from the army of Flanders?
11.7 million ducats between 1571 and 1577
How much was spent on the regime in France?
30 million ducats
What was Spain’s debt compared its income?
85.5 million ducats debt while average annual income 9.7 million ducats.
What was the increase in alcabala yield?
14%
Explain the three graces.
- servicio tax, made ordinary taxation in 1561
- excusado tax, allowed to be introduced by pope puis in 1567
- cruzada tax
- the tree combined amounted to 1.4 million ducats per year in the 1590’s
Overall tax increase under Philip?
430% between the years 1559 and 1598.
How much was sent to the war effort in the Netherlands?
Over 80 million ducats from 1567 until1600.
Millones Tax
Imposed as an extra taxation of foodstuff in 1590, after being agreed by Philip and the cortes
