By Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden
This e-book is the 1st complete review of Dutch monetary historical past from the 16th century to the current day. it truly is replete with information and figures drawn from clean learn for the major parts that decided the advance of public finance, foreign money and banking. It presents 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
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 agreed to a common effort, in particular for waging war against Spain. A new States General was constituted, with representatives of the provinces along with a new Council of State, the executive body. Both came to be located in The Hague. Prince William of Orange, the former Stadhouder (substitute for the king), was elected as the new Stadhouder (highest dignitary) of the provinces.
The 1680s signalled a recovery in the yield again (Kappelhof 1986, pp. 263,286). Yet little of these monies found their way to the central state. Most of the yield was needed for the expenses of the local administration. In addition, major impediments existed for the Council of State to render these reconquered areas into truly gainful assets. The nearness of enemy territory and fear of political separation prevented more increases. One should note also the emphasis on land taxes and on agricultural produce, which was always a harder way to levy taxes as compared with duties upon consumption and trade (Ardant 1975).
4). 4 were the local taxes (such as duties for drainage boards, town taxes and tolls), the extraordinary impositions, and the costs of perception of the tax farmers, which could increase the actual burden considerably. Yet the overall trend is clear. Whereas the general wage level increased only by 30 per cent, the tax burden more than doubled. A wage labourer had to work ten days for taxation in 1600, but approximately eighteen days in 1700. With such a large degree of indirect taxes upon necessities, the burden tended to be regressive.
A Financial History of the Netherlands by Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden