Deuda pública - History Lab https://historylab.es Fri, 20 May 2022 07:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://historylab.es/wp-content/uploads/2021/06/cropped-icono-historylab-32x32.jpg Deuda pública - History Lab https://historylab.es 32 32 Holders of bonds and the percentage of the bonds in Murcia (1544-1680) https://historylab.es/holders-of-bonds-and-the-percentage-of-the-bonds-in-murcia-1544-1680/?utm_source=rss&utm_medium=rss&utm_campaign=holders-of-bonds-and-the-percentage-of-the-bonds-in-murcia-1544-1680 Sat, 19 Feb 2022 16:29:56 +0000 https://historylab.es/2022/02/19/poseedores-de-juros-y-porcentaje-del-situado-en-murcia-1544-1680/ Graph showing the typology of juros holders: private individuals, church, nobility and other institutions. The importance of the juros as a source of long-term financing for the monarchy

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]]> One of the forms of financing that the Hispanic monarchy had were the juros. The juros, or debt securities, consisted of private economic disbursements to the monarchy in order to obtain, in the medium and long term, returns from the royal institution. A predecessor of the current system of issuing public debt, it was the system used in Castile. The resource deals with the typology of holders of juros and their percentage amount as a group with respect to the total. We look at Murcia between 1544 and 1680, a period in which the number of juros rose from 20 to 133 (from 3,266,459 to 14,011,285 maravedíes). The growth of the Empire was accompanied by an increase in the issue of juros. Who were the holders? In all these years, merchants and businessmen were the main purchasers. Without belonging to the privileged classes, these wealthy men owned more than 80% of the land in 1544; the rest belonged to the nobility. As the century and the turn of the century progressed, more bonds were issued, with other institutions, such as the church, acquiring part of them. Thus, from 1560 onwards, the ecclesiastical organisation began to own juros in Murcia, although its share did not exceed 10% until the end of the 16th century, falling at the beginning of the 17th century and reaching its highest percentage of the total in 1680.

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]]> Revenues of the Holy Brotherhood between 1478 and 1498 https://historylab.es/revenues-of-the-holy-brotherhood-between-1478-and-1498/?utm_source=rss&utm_medium=rss&utm_campaign=revenues-of-the-holy-brotherhood-between-1478-and-1498 Sat, 19 Feb 2022 16:29:48 +0000 https://historylab.es/2022/02/19/ingresos-de-la-santa-hermandad-entre-1478-y-1498/ Graph showing the dynamics of the income of the Holy Brotherhood since its implementation in 1482

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]]> Shortly after the accession of Ferdinand and Isabella to the Castilian throne in 1474, a process of restructuring and reform of the institutional structures of the State began, especially those dedicated to taxation and tax practice in order to cope with the new expenses that the crown would have to bear. The Royal Treasury had to face these circumstances by creating and establishing the “extraordinary” revenue as an additional tax category.
The establishment of the General Brotherhood in 1476 was justified as a means of restoring peace throughout the kingdom, but the intention of creating an army under the direct authority of the throne without putting too much strain on the weak Royal Treasury, which was in the process of reconstruction, could not be concealed for long.
This movement was prompted by the need for large sums of money in a short space of time, as a result of pressing needs such as the war in Granada at the end of the 15th century or the wars in Naples between 1494 and 1504. Revenues, therefore, were calculated in accordance with expected expenditure and not the other way round, denying the redistributive nature of the taxation practice that has presided over most tax systems.
The key to understanding the extraordinary revenues of the crown were the loans, understood at this time as the issuing of a small debt in exchange for financing. Since it was not considered as just another tax on the population, all subjects were eligible to pay loans without being limited by the directives of the General Brotherhood.

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