Préstamos - History Lab

File of Juan Javier de Goyeneche Indaburu Balanza e Iturburua

ad_hlab_min — Sat, 19 Feb 2022 16:32:58 +0000

File of Juan Javier de Goyeneche Indaburu Balanza e Iturburua to enter as a student at the Royal Seminary of Nobles in Madrid. He was the son of Francisco Miguel Goyeneche y Balanza, (Madrid, 1705 – 1762); I Count of Saceda and II Marquis of Belzunce, who was Treasurer of the Queen and businessman. At the same time, Juan Javier was the grandson of Juan de Goyeneche y Gastón, businessman and treasurer to the Queen, forming part of one of the most important families of Crown financiers of the 18th century.

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Payment of loans by Charles V in the mid-16th century

ad_hlab_min — Sat, 19 Feb 2022 16:29:56 +0000

Carlos V’s monetary management was characterised to a large extent by regular recourse to loans from Genoese, German, Castilian and Flemish bankers. Some of these loans were repaid on a regular basis, some were repaid with ecclesiastical revenues, and a third led to delays and non-payments by the Spanish Royal Treasury.
Contributions from ecclesiastical institutions were a very important figure in legitimising a relatively secure guarantee of repayment between them and the king vis-à-vis the bankers. In contrast to the secondary role played by Castilian lenders, ecclesiastical contributions – mainly through the Crusade – did stand out as a key tool for the crown.
It can be seen how in the period between 1547 and 1550 the figures for loan payments fall, largely because they were not so necessary at this peaceful time, rising again between 1551 and 1554, showing the preeminence of Genoese bankers when it came to financing the Spanish monarchy. It should be borne in mind, however, that despite being very clear and definitive data, these may suffer some variation in the royal sphere because some entries showed that the monarch used the bankers as intermediaries to transfer money between his kingdoms, thus increasing the share of these entities.

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The functioning of a bill of exchange in the late Middle Ages

ad_hlab_min — Sat, 19 Feb 2022 16:29:36 +0000

In the late Middle Ages and early modern period, bills of exchange were one of the key elements for the transfer of capital between different European and Mediterranean territories. The main actors involved in the creation of bills of exchange depended on the distance of processing. If it was in the same territory or accessible to the interested parties and the amount was not important, the figures were 1) the drawee, who makes the payment and receives the bill; and 2) the drawee (debtor), who grants the bill and receives the payment that has to be returned to the drawee. If the circumstances required it, the participants could be increased with two more figures: 1) the beneficiary, who presents the bill of exchange and receives the payment; and 2) the drawer, in charge of signing the payment and receiving the bill of exchange. Both would act as intermediaries between the lender and the debtor. There could also be the figure of the guarantor who would be in charge of ensuring that the debt was paid in due time and form. In a historical example, dated 23 February 1481, a bill of exchange signed in Cagliari by Alfonso de Santángel and sent to Valencia to Joan de Santàngel, to pay 10 Valencian pounds to the merchant Joan Pasqual. The four parties involved in this bill of exchange are shown in the diagram below.

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Receivers of loans in Segovia (1503-1508)

ad_hlab_min — Sat, 19 Feb 2022 16:29:25 +0000

Using the case of Segovia, the author aims to shed light on this urban centre at the beginning of the 16th century, trying to explain rationally why this Castilian city (like many others) grew around 1500 and underwent profound social transformations. The thesis of the article proposes that from the mid-15th century until the end of the 16th century, the Castilian nobility of the cities invested part of their profits in favour of merchants and artisans, seeking to obtain a near return in exchange. The main source of wealth for the nobility – the social group that lent the most – was the rent from land
Thanks to the first notarial protocols preserved in Segovia, it is possible to verify the credit at the beginning of the 16th century and the operations that were carried out. It is striking how little monetary attention was paid to the rural sector, as these neighbours managed to receive only 7.3% of the total money lent, despite the fact that they outstripped the city’s neighbours in terms of operations. Urban merchants, on the other hand, were the group that received the largest amount, close to 40% of the total.

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