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Philip II > Phillip Finance and Economy > Flashcards

Phillip Finance and Economy Flashcards

1
Q

how did crown income change?

A

crown income increased significantly

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2
Q

what was the difference in crown income over Philip’s reign?

A

1559 - 3 million

1590s - 10.5 million

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3
Q

how did taxation change?

A

tripled between 1559-77

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4
Q

what was the new tax he got from the church?

A

1567 excusado granted by papacy - made 270,000/year

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5
Q

how did cruzada increase?

A

doubled to about 200,000/year by 1590s

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6
Q

how did royal third increase?

A

800,000 ducats/year by 1590s

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7
Q

how much did the three graces bring in by 1590s?

A
  • 1.4 million/year

- increased 4x

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8
Q

what tax did cortes agree to in 1590?

A
  • millones tax
  • 8 million ducats over 6yrs
  • to pay for 1588 armada (cost 10 million)
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9
Q

what were the main mines Philip got silver from?

A

potosi, Zacatecas and Guanajuato

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10
Q

how did Philip get from quinto?

A

65m ducats of gold/silver over course of reign

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11
Q

how much did silver increase by over century?

A

by 1590s 12x more silver than at start of 16th C

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12
Q

what increased at a bigger rate than revenue?

A

spending

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13
Q

how did crown debt increase?

A
  • inherited 36m ducats of debt

- 85.5m ducats of debt at death

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14
Q

how many times did Philip go bankrupt?

A

4x

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15
Q

in what years did Philip declare bankruptcy?

A

1557, 1560, 1575, 1596

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16
Q

why did the council of finance remain ineffective?

A
  • a lot of members connected to bankers

- encouraged Philip to take loans

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17
Q

by 1600, how much money was spent on paying juros?

A

40% of income

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18
Q

what did Philip use that damaged finances?

A

short term expedients that caused long term problems

-e.g. juros and asientos

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19
Q

how did asientos increase between 1566 and 1567?

A
  • 1566 - 21 asientos

- 1567 - 50 asientos

20
Q

by 1598 how much was spent on interest?

A

4.8 million/year

21
Q

how did spending on warfare increase?

A

1556 - spending than 2m ducats on war

1590 spending 10m on war

22
Q

how much was spent on Dutch revolt over course of reign?

A

80m

23
Q

which area of Spain was particularly prosperous and why?

A

seville due to new world trade

24
Q

how did population increase in seville?

A

1530s - 50,000 people

1590s - 120,000 people

25
Q

between 1562-1608 what increased by 176%?

A

number vessels to new world

26
Q

between 1562-1608 what increased by 238%?

A

increase in tonnage

27
Q

who was really benefiting from Seville

A
  • foreign merchants

- Seville became European port driving European economy, not Castilian

28
Q

why did Madrid’s economy improve?

A

was made capital

29
Q

how did Madrid’s economy improve?

A

population more than doubled

30
Q

what did increasing importance of Madrid mean for other towns ?

A

meant toledo and Valladolid became less economically important

31
Q

why was there prosperity in Granada in 1560s?

A

prosperous leather and silk industries

32
Q

how was Granda industry ruined?

A

Philip’s policy towards Moriscos

33
Q

what did the Dutch revolt damage>

A

healthy trade between Spain and low countries

-e.g. 1567 yearly imports down from 40,000 -> 25,000

34
Q

what did nobles have enough money to do?

A

stimulate industry but didn’t invest in Spanish industry

35
Q

what did nobles prefer to invest in?

A

juros and new world silver instead of risk of investment in industry

36
Q

which industry failed to bring the economic benefits it should have?

A

weapons industry as it was backwards

37
Q

what % of firearms used to suppress Morisco revolt were foreign?

A

80%

38
Q

how many artillery pieces of 1588 were made from Spanish copper or tin?

A

0/2400 and every cannonball had to be imported

39
Q

what decision did Philip make in 1566?

A

decision that allowed Spanish merchants to take sliver out of Spain

40
Q

what ducats of silver left seville in 1570?

A

7 milloin ducats

41
Q

what caused rampant inflation?

A

silver influx and other factors

42
Q

how did inflation affects Spaniards between 1530-1600?

A

spaniards could buy 20% less goods

43
Q

what was the rate of inflation over 16th C?

A

400%

44
Q

what did inflation cause?

A

poverty and less investment in industry

45
Q

why was 1590s a crescendo of poverty?

A

high inflation
high taxation
little ice-age led to poor harvests

46
Q

what did the cortes of Castile say in 1594?

A

‘the kingdom is wasted and destroyed’

47
Q

between 1596-99, how did wages and wheat prices rise?

A
  • wages rose 30%

- wheat rose 250%

Philip II (10 decks)

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