Abstract
The eighteenth century was one of slow recovery for the Spanish economy as a whole, thanks largely to internal peace, to legal and administrative modernization by the Bourbon kings, and especially thanks to the gradual opening of the Spanish Americas to trade with the metropolis, which had been subject to tight restrictions before. In 1778 transatlantic trade with Spanish America was open for the most important ports on both shores of the Atlantic and for a series of Pacific harbours also. The so-called Free Commerce Decree of 1778 was followed by a brief trade boom, but politics put an end to this hopeful development.
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© 2013 Gabriel Tortella and José Luis García Ruiz
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Tortella, G., Ruiz, J.L.G. (2013). Money and Banking in the Twilight of Empire. In: Spanish Money and Banking. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137317131_2
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DOI: https://doi.org/10.1057/9781137317131_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-34491-8
Online ISBN: 978-1-137-31713-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)