By Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden
This e-book is the 1st complete evaluation of Dutch monetary historical past from the 16th century to the current day. it's replete with facts and figures drawn from clean learn for the main components that made up our minds the advance of public finance, foreign money and banking. It presents a step by step description of the evolution of the monetary platforms in a single of the pioneer international locations of recent finance.
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Extra resources for A Financial History of the Netherlands
There, ancient privileges overshadowed and hampered public funds. As for the cities, their power structure was traditionally independent of any overlord or any provincial government, a major difference from the urban centres in the west. Even 20 years after the unification of 1548 neither the inland cities, nor the rural quarters, nor their landlords were subjected to a unified financial system at the provincial level. The relatively modernisedfiscalsystem of Holland, Zeeland, or Utrecht contrasted sharply with these eastern and northern areas.
The government of Holland took control of the mint in Dordrecht and were bent on a devaluation of 15 per cent in 1573. Two years later this province lowered the mint ratio. It was to reduce the profit on the export of silver but stimulated the inflow too. This unexpected monetary move raised its silver stock. At the same time, the other provinces of The Netherlands noticed the backlash of this policy. There, the opposite occurred: an outflow and shortage of silver, which led to substantial objections of the inland provincial governments.
Since 1582, the customs were collected for the confederation by thefivenavy boards as import and export duties under the heading of convooien and licenten, levied respectively for the protection of vessels at sea and upon trade with enemy regions. 2). By comparison, the Rotterdam board declined in importance. Most dramatic was the reduced importance of the Zeeland board, situated in Middelburg, with its proportion declining from 22 per cent to only 8 per cent, due to an overall shift of trade routes from the southern Netherlands to the northern regions.
A Financial History of the Netherlands by Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden
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