By Dr Carlos Marichal
This ebook emphasizes that the Spanish empire remained the 3rd most crucial ecu kingdom when it comes to monetary source of revenue and naval strength, and primary in measurement of territorial empire, quite due to its colonies in Spanish the United States. The Spanish crown used to be excited by 4 wars with nice Britain and wars with France through the many years 1760-1810. Colonial Mexico financed each one of these wars via remitting silver within the type of taxes and loans. The expenses of the imperial wars have been so nice that they finally triggered the financial ruin of either the Spanish American colonies and of the monarchy itself.
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Extra info for Bankruptcy of Empire: Mexican Silver and the Wars Between Spain, Britain and France, 1760-1810
Transferring Wealth P1: JZP 9780521879644int CUNY1040/Marichal 0 521 87964 7 Introduction August 23, 2007 11:39 15 the late eighteenth century? 37 And what of France? Its richest colony, Saint Domingue (Haiti), certainly required considerable military expenditures, particularly naval, but there were also indirect fiscal benefits for the metropolis. Nonetheless, we know little on this score because historians working on French finance have been perhaps overtly domestic in their research preoccupations.
British authorities faced stiff opposition to new taxes in the thirteen colonies in North America and to the expansion of the royal army forces there. 34 In contrast, the Spanish monarchy – a major imperial rival of Britain in the western hemisphere – did not have to expend funds for overseas defenses, as these were paid for almost entirely by colonial administrations in Spanish America. 35 Nonetheless, and paradoxically, it was in the lightly taxed Anglo-American colonies that independence would triumph first, whereas in Spanish America the royal administration applied increasing fiscal and financial pressures until the critical year of 1810.
35 Nonetheless, and paradoxically, it was in the lightly taxed Anglo-American colonies that independence would triumph first, whereas in Spanish America the royal administration applied increasing fiscal and financial pressures until the critical year of 1810. But what was the fiscal situation of colonies in other regions at the end of the eighteenth century? The questions are numerous, and most are still unanswered. How costly were the British colonies in the West Indies? Did they pay their way?