A-Level Notes > The Belvedere Academy A-Level Notes > The Emergence of a Great Power? Spain 1492-1556 Notes
Topic 9 Finance And Economy Notes
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The Emergence of a Great Power? Spain 1492-1556 Section three: Charles I: Challenge and continuity 1516-29 Topic three- Financial and economic developments
In a letter by Phillip to his father, he addressed the condition of the 'common people'. He said that they are living in poverty - 'Many walked naked' Despite this, Charles was more anxious to deal with religious and political issues overwhelming the German Lands
The role of Castile as the financial centre of Spain
The availability of finances and control over spending is key issue for any government. Castile was the wealthiest state but with its increasing costs even Castile was not fully able to finance Charles as King of Spain and HRE Main sources of income
Trade with New world
Trade in Castile and Aragon
Trade with the New World
It was an exclusive right for Castile to trade with the new world but eventually relaxed in the 1520s and only reasserted in the next decade =
not successful as lost profits Castile and the Port of Seville held the monopoly of trade in the Americas until 17th Century Main import from Americas was Bullion - Gold and Silver Royal fifth = 20% tax collected by Monarchs on all precious metals mined in America Silver production was higher throughout this period Charles commented on the debt in Castile in 1523 = 'amount to far more than I receive in revenue' Debt increased with his role as HRE and finance needed for Royal household in Castile
Taxation raised in both states were a large source of income Cortes rarely rejected a request for finance Aragon did not contribute to fiancé due to their economic position Taxation not constantly reliable Cortes chose carefully which projects to finance Officials took bribes Certificates of Nobility were also sold and overtime reduced the number of taxpayers overall
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