The Duc de Montmorency, Philip II and the House of Savoy: a neglected aspect of the sixteenth-century French Civil Wars

1990 ◽  
Vol CV (CCCCXVII) ◽  
pp. 870-892 ◽  
Author(s):  
JOAN M. DAVIES
Keyword(s):  
Sixteenth Century ◽  
Civil Wars ◽  
Philip Ii

The Sustainable Debts of Philip II

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
Sixteenth Century ◽  
Strong Evidence ◽  
Military Expenditure ◽  
Debt Service ◽  
Fiscal Sustainability ◽  
Short Term ◽  
Systematic Analysis ◽  
Philip Ii ◽  
Long Run

This chapter addresses the sustainability of debt. A systematic analysis based on the International Monetary Fund's (IMF) methodology to evaluate fiscal sustainability shows that Castile was able to service its debts in the long run. While liquidity was scarce during periods of intense warfare, years of relative peace brought large surpluses. The data collected from Castile's annual fiscal accounts produced new yearly series of revenue, military expenditure, short-term debt issues, and short-term debt service. The resulting database spans a full 31-year period—enough to employ modern quantitative techniques. This analysis provides strong evidence that Castile's fiscal position in the second half of the sixteenth century was on a solid footing. The chapter then assesses whether the events that led to major downturns in Castile's financial fortunes could have been anticipated.

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

Introduction

2017 ◽  
Author(s):  
Tom Hamilton
Keyword(s):  
Sixteenth Century ◽  
Material Culture ◽  
Early Modern ◽  
Everyday Life ◽  
Civil Wars ◽  
Modern History ◽  
Early Modern History ◽  
History Of Collecting ◽  
History Of ◽  
Late Renaissance

This chapter explores the material culture of everyday life in late-Renaissance Paris by setting L’Estoile’s diaries and after-death inventory against a sample of the inventories of thirty-nine of his colleagues. L’Estoile and his family lived embedded in the society of royal office-holders and negotiated their place in its hierarchy with mixed success. His home was cramped and his wardrobe rather shabby. The paintings he displayed in the reception rooms reveal his iconoclastic attitude to the visual, contrasting with the overwhelming number of Catholic devotional pictures displayed by his colleagues. Yet the collection he stored in his study and cabinet made him stand out in his milieu as a distinguished curieux. It deserves a place in the early modern history of collecting, as his example reveals that the civil wars might be a stimulus as much as a disruption to collecting in sixteenth-century France.

The Abbatial Election at Citeaux in 1625

1970 ◽  
Vol 39 (1) ◽  
pp. 30-35
Author(s):  
Louis J. Lekai
Keyword(s):  
Sixteenth Century ◽  
Civil Wars ◽  
The Other ◽  
Total Destruction ◽  
General Decline ◽  
History Of

The sixteenth century was a crucial period in the history of French monasticism. In addition to the causes of a general decline throughout Europe, in France two peculiar developments precipitated a nearly fatal collapse of monastic establishments. One was the commendatory system that spread over the whole country following the Concordat of Bologna in 1516. Royally appointed commendatory abbots, whose only concern was the collection of their share of monastic income, contributed much to the moral and material decline of the institutions supposedly under their care. The other and even more devastating calamity was the series of religious and civil wars during the second half of the century that resulted in the pillage and partial or total destruction of hundreds of monasteries.

Philip ii of Spain and His Italian Jewish Spy

2017 ◽  
Vol 21 (4) ◽  
pp. 318-342
Author(s):  
Flora Cassen
Keyword(s):  
Sixteenth Century ◽  
Early Modern ◽  
Jewish Identity ◽  
North Africa ◽  
Information Networks ◽  
Intelligence Agency ◽  
Philip Ii ◽  
Secret Information ◽  
History Of ◽  
Jewish Families

A bitter conflict between the Spanish and Ottoman empires dominated the second half of the sixteenth century. In this early modern “global” conflict, intelligence played a key role. The Duchy of Milan, home to Simon Sacerdoti (c.1540-1600), a Jew, had fallen to Spain. The fate that usually awaited Jews living on Spanish lands was expulsion—and there were signs to suggest that King Philip ii (1527-1598) might travel down that road. Sacerdoti, the scion of one of Milan’s wealthiest and best-connected Jewish families had access to secret information through various contacts in Italy and North-Africa. Such intelligence was highly valuable to Spanish forces, and Philip ii was personally interested in it. However, this required Sacerdoti to serve an empire—Spain—with a long history of harming the Jews, and to spy on the Ottomans, widely considered as the Jews’ supporters at the time. This article offers a reflection on Simon Sacerdoti’s story. Examining how a Jew became part of the Spanish intelligence agency helps us understand how early modern secret information networks functioned and sheds new light on questions of Jewish identity in a time of uprootedness and competing loyalties.

Iron and Blood: Civil Wars in Sixteenth Century France.

1993 ◽  
Vol 24 (1) ◽  
pp. 189
Author(s):  
James Eastgate Brink ◽  
Henry Heller
Keyword(s):  
Sixteenth Century ◽  
Civil Wars

“I Heard it through the Grapevine”: Analysis of an Anti-Secularization Initative in the Sixteenth-Century Arequipan Countryside, 1584–1600

2005 ◽  
Vol 61 (4) ◽  
pp. 647-672 ◽  
Author(s):  
María N. Marsilli
Keyword(s):  
Sixteenth Century ◽  
Civil Wars ◽  
The Andes ◽  
Franciscan Order ◽  
Parish Work

Franciscan historian Antonine Tibesar’s study of the early evangelical accomplishments of the Franciscan Order in the Andes constitutes a landmark contribution to an insufficiently examined subject. Trying to detach his work from Joachimist debates, Tibesar did not deem the spirituality shared by peninsular friars to be relevant in explaining their poor early evangelical results. Although Tibesar acknowledged such shortcomings, he sustained that they were caused by an apathetic Franciscan engagement in parish work among the Indians. The inexperience of Spanish friars and the turmoil of the civil wars that ravaged the Andes in the aftermath of the conquest greatly explain this situation, he sustains. Additionally, Tibesar advances the idea that the undecided approach towards Indian conversion amongst sixteenth-century Franciscan authorities was the major cause of these first evangelical failures. Troubled by the hardships of life in Indian parishes and concerned about the lack of familiarity with parish administration among the Order’s ranks, the Franciscan establishment sent the friars contradictory orders, thus preventing them from bringing together a more coherent evangelical plan.

scholarly journals The Sustainable Debts of Philip II: A Reconstruction of Castile's Fiscal Position, 1566–1596

2010 ◽  
Vol 70 (4) ◽  
pp. 813-842 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
Sixteenth Century ◽  
Early Modern ◽  
Sovereign Debt ◽  
Archival Data ◽  
Short Term ◽  
Philip Ii ◽  
Debt Crises ◽  
Liquidity Crises

The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. We reassess the fiscal position of Habsburg Castile, deriving comprehensive estimates of revenue, debt, and expenditure from new archival data. The king's debts were sustainable. Primary surpluses were large and rising. Debt-to-revenue ratios remained broadly unchanged during Philip's reign. Castilian finances in the sixteenth century compare favorably with those of other early modern fiscal states at the height of their imperial ambitions, including Britain. The defaults of Philip II therefore reflected short-term liquidity crises, and were not a sign of unsustainable debts.

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