Bankruptcy of Empire
Mexican Silver and the Wars Between Spain, Britain and France, 1760–1810

This book examines the expenditures of the imperial wars, which were so great that they eventually bankrupted the monarchy in Spain.

Carlos Marichal (Author)

9780521142359, Cambridge University Press

Paperback, published 1 April 2010

340 pages
22.9 x 15.2 x 1.9 cm, 0.5 kg

'In what by any standards is a major work, Marichal proves the extraordinary influence of Mexican silver in pan-American and European affairs at the turn of the nineteenth century. The Journal of Latin American Studies

This book incorporates the rich literature on the history of the fiscal organization and financial dynamics of the Spanish empire within the broader historical debates on rival European imperial states from 1760 to 1810. The focus is on colonial Mexico because it served as a fiscal and financial submetropolis that ensured the capacity of the imperial state to defend itself in a time of successive international conflicts. Throughout the reign Charles IV, the finances of the Spanish state began to sink. This collapse was caused by the enormous expense of waging successive wars in the Americas and Europe. In each war, colonial Mexico was a most important source of resources for the Crown, but these demands gradually outstripped the tax base of the viceroyalty despite the extraordinary silver boom of the late eighteenth century. The bankruptcy of the Spanish monarchy and its empire was the inevitable consequence.

List of tables and figures
Acknowledgements
Introduction
1. Resurgence of the Spanish Empire: Bourbon Mexico as submetropolis, 1763–1800
2. An imperial state tax: the fiscal costs and benefits of colonialism
3. Imperial wars and loans from New Spain, 1780–1800
4. The royal church and the finances of the viceroyalty
5. Napoleon and Mexican silver, 1805–8
6. Between Spain and America: the royal treasury and the Gordon and Murphy Consortium, 1806–8
7. Mexican silver for the Cortes of Cádiz and the war against Napoleon, 1808–11
8. The rebellion of 1810, colonial debts, and bankruptcy of New Spain
Conclusions: the financial collapse of viceroyalty and monarchy
Appendices
Bibliography
Index.

Subject Areas: Colonialism & imperialism [HBTQ], Modern history to 20th century: c 1700 to c 1900 [HBLL], History of the Americas [HBJK]