Finance Flashcards
What was Philip’s financial situation when he inherited the throne? (Lotherington)
25.5 million ducats national debt
What are HK’s stats on the state juro debt?
36 million in 1557 rising to 85 million in 1598
What did Philip’s yearly income look like?
3 million ducats p.a. in 1556 rose to 10.5 million p.a. in 1590s
When was the Millones tax passed?
1591
How much did taxation increase?
3x from 1559 to 1577
How much money did the ‘three graces’ earn Philip in the 1590s?
1.4 million ducats per year
This was around 20% of his income
How much money did the Aragonese military order Montesa earn per year?
130,000 ducats
When was the convoy system introduced?
1560s
How did Philip manage to take around 40% of New World silver?
The ‘Quinto’ - Royal Fifth and private investments
How much did Philip earn from the New World during the course of his reign?
64.5 million ducats
12x that of the first half of the 16th century
How much did Philip spend yearly on his court?
450,000 ducats p.a.
What was Philip’s biggest personal/private expenditure?
El Escorial
Cost 5.5 million over 20 years
How many times did Philip declare bankruptcy in his reign?
3/4 times
How much did interest payments increase during his reign?
525%
What event demonstrated Philip’s failure to grasp an understanding of finances?
His failure to heed of Ovando’s advice in 1573
How much of the Spanish population payed no tax at all?
The top 12.5%
How much did Naples and Milan contribute to Spanish finances?
400,000 ducats towards the battle of Lepanto (1571), but nothing else of any significance that wasn’t in their direct interests
How did the Dutch revolt effect Philip’s finances from the Low Countries?
He made a net loss after 1572
How many customs posts lay on the borders of Castile?
39
How much did the war on France cost Philip?
30 million ducats (in the 1590s)
How much did the first armada (1588) cost?
10 million
The largest single expenditure of Philip’s reign
How many soldiers were employed in the Spanish armies in 1587?
100,000 men
How large was the spending to maintain Spanish armies?
10 million per year
5x the cost in the 1560s
What was a key event, due to unpayed soldiers, fuelling the flames of the Dutch revolt?
The sack of Antwerp in 1576
When was the Treaty of Nonesuch?
1585
How much did the Cadiz raid of 1596 cost Philip to repair the port?
20 million
How did the cost of warfare increase?
The Lepanto fleet (1571) cost 1.1 million The armada (1588) cost 10 million
