Charles V and His Bankers –– Fiscal Crisis and Institutions
The object of this conference was the development of political institutions in different parts of Charles V's empire as a response to his fiscal needs. Taxation, public finances, and political representation evolved, pressed by his needs to raise current revenues, and to mortgage future revenues to fund his military campaigns. Conferees also learned how fractional reserve banking and inflationary creation of credit on top of bullion brought from Spanish America took form during the sixteenth century.
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