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Charles V > Economy + Finance > Flashcards

Economy + Finance Flashcards

1
Q

what % was alcabala and who had to pay?

A

10% and everyone

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2
Q

how much money did alcabala bring in?

A

by 1550 25% of ordinary income

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3
Q

how much was ordinary income by 1550?

A

1.25 million ducats/year

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4
Q

what defeat of Comuneros lead to?

A

very little opposition to taxation

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5
Q

what happened 1523 cortes of Valladolid?

A

voted a servicio of 400,000 ducats over 3 years

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6
Q

how much money did the cortes average ?

A
  • 1520s 130,000 ducats/year

- 1550s 400,000 ducats/year

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7
Q

when was the first subsidio granted from the church?

A

1519

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8
Q

how much money did they get from subsidio?

A

1532 - 372,000 ducats

1551 - 500,000 ducats

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9
Q

why were the able to get so much money from church?

A

due to dominance over church - erastian rule

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10
Q

how did crown benefit from new world wealth?

A
  • quinto- across region brought in 270,000 ducats/year

- total of 11.9 million ducats/year (directly to crown)

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11
Q

how much did taxes and expenditure increase by? why was this bad?

A
  • 50% and 100%

- bad as although taxes increasing, spending increasing more - so net loss

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12
Q

who didn’t pay tax?

A

richest 13% - hidalgos

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13
Q

what did he fail to introduce in 1538?

A
  • sisa tax

- would have brought in 800,000 ducats/year

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14
Q

what did Charles spend lots of money on?

A

wars e.g. French, turks and German protestants

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15
Q

how much did money did he spend on France?

A
  • 1552 borrowed 4 million ducats to finance France

- 2.5 million ducats on siege of Metz

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16
Q

did Charles attempt to get nobles to pay servicio?

A

1527 failed to get nobles to contribute to servicio

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17
Q

what was Charles told in feb 1544?

A
  • told his budget needs for next year came to 2.375 million ducats
  • only had 750,000 ducats available
18
Q

what did Charles use finance his spending ?

A

loans

19
Q

how much money did he borrow during 1550s?

A

1552-56 - 9.6 million ducats available in 121 asienetos at interest rate of 48%

20
Q

how did financial situation change over time?

A

situation serious in 1520s + 1530s - 1550s near catastrophic

21
Q

how did the interest rates used by bankers increase over time?

A

1520s charged 17.6%

1550s charged 48.8%

22
Q

how much did the geneose bankers charge ?

A

charged 67.4% after 1552

23
Q

how much money was spent n repaying debts?

A

by 1556, 68% of income repaying juros

24
Q

what role did the council of finance play in controlling Charles?

A
  • failed to control his spending

- had to prevent bankruptcy by selling offices and seizing private bullion shipments

25
Q

why did seville and south benefit from new world trade?

A
  • Spanish settlers wanted Castilian products

- merchants in south benefited from increased trade

26
Q

how many new world settlers were there?

A

118,000 by 1570

27
Q

what was set up in in seville?

A

1503 Casa de Contratación

28
Q

how did seville’s population increase?

A
  • 1500 - 60-70,000

- 1588 - 150,000

29
Q

how was Granda doing well and why?

A
  • granda silk industry doing well

- due to Charles’s lenient policies towards muslims

30
Q

how did old Castile benefit?

A
  • shipbuilding in north from new world trade

- Basque navigators much sought after

31
Q

what was the main trade in burgos and why did it benefit?

A
  • wool trade
  • trade boosted between burgos and seville
  • sent a lot of wool to low countries
  • due to Charles’s close political relationship between Castile + Low Countries, closer economic ties
32
Q

when was greatest benefit from new world?

A

from 1540

33
Q

what mines were opened during 1540s?

A
  • potosi mine (peru) opened 1545

- zacatecas mine (Mexico) opened 1548

34
Q

when did Charles allow foreigners into the new world?

A
  • allowed foreigners to trade w/ new world between from 1524

- reversed the decision in 1538

35
Q

how did foreigners still get into new world after Charles re-introduced ban?

A

by buying special licences or naturalisation certificates

36
Q

what % of silver when to foreign bankers?

A

40% of silver

37
Q

what discouraged nobles from industry ?

A
  • high taxation discouraged nobles

- greatest financial return from Juros

38
Q

what silver play big role?

A

inflation - EJ Hamilton’s 1934 ‘price revolution’

39
Q

what was the inflation in Spain like?

A

1511-19 in Andalusia- wheat 109%, oil 197% and wine 655%

40
Q

why was there widespread famine and poverty

A
  • too much emphasis on mesta

- andalusian farmers grow cash crops to send to new world

41
Q

how could shipbuilding have been stronger?

A

didn’t have enough shipyards to build ships - meant they had to buy foreign ships

42
Q

what other spanish industry was particularly weak?

A

weapons industry - had to buy from Italy and Germany

Charles V (8 decks)

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