By Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden
This e-book is the 1st complete review of Dutch monetary background from the 16th century to the current day. it truly is replete with info and figures drawn from clean learn for the foremost components that made up our minds the advance of public finance, forex and banking. It offers a step by step description of the evolution of the monetary structures in a single of the pioneer nations of contemporary finance.
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Extra info for A Financial History of the Netherlands
These limits to the Dutch fiscal system started to count in the eighteenth century. 6 The limited fiscal instruments of the central state The central state (the colleges of the States General and the Council of State) commanded only a fraction of public resources directly. 6 Revenues of the Union by four categories (ca. 1640s) Source: 't Hart 1993, p. 86. clearly absent. No major central tax was imposed at all, such as a levy on land and houses or hearths, despite the fact that the treaty of the Union (1579) had commanded the levy of uniform taxation.
The northern provinces (Holland, Zeeland, Utrecht, Friesland, Groningen, Public finance, 1550-1700 15 Gelderland, Overijssel and Drenthe) managed to remain free, albeit at the cost of a protracted war. As a result of pressing needs, former fiscal structures in the north were reinforced. Ad hoc measures became permanent. Due to the hatred of the Habsburg measures, the process of centralisation that had begun under the Burgundian dukes was reversed into a diverging trend. The new Republic became a confederation, in which each of the United Provinces were sovereign.
They produced coins out of bullion according to market requirements and to the rules set out by the general mint officers, who were appointed in all the dukal dominions of the Low Countries. Charles V, the Burgundian-Habsburg overlord, introduced several regulations, such as fixing the guilder, in order to halt monetary depreciation (Van der Wee 1983, p. 13). The golden carolusgulden of 1521 and the silver carolusgulden of 1544 tried to combine currency and money of account in one. His son Philip II continued the policy of centralisation, for which he introduced a comprehensive new silver coin: the philipsdaalder in 1557.