By R. B. Wernham
This quantity examines the interval of heritage which appears at counter-reformation and the fee revolution, 1559-1610.
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Additional info for Counter-Reformation and Price Revolution, 1559–1610 (The New Cambridge Modern History, Volume 3)
Martin Azpilcueta de Navarro published his De usuris in 1556. This scholar from the school of Salamanca in all probability first set the responsibility squarely on the consignments of precious metals to Europe. The crux of the matter lay in their abundance. In 1566-8, ten years after the tract of Azpilcueta, the famous controversy between the Sieur de Malestroit and Jean Bodin exploded in France. The former maintained the proposition that there was a rise of prices in terms of money of account, but that in reality prices when calculated in gold and silver remained the same.
Dearthe of all thinges as I never knewe the like, not only of thinges growinge within this Realme, but also of all other merchandise that we bye beyonde the seas, as silkes, wynes, oyles, woode, madder, iron, steyll, wax, flax, lynnen clothe, fustians, worstedes, coverlettes, carpettes, and all arrasies and tapestrie, spices of all sorts and all haberdashe wares as paper, bothe whyte and browne, glasses as well drinkinge and 18 Cambridge Histories Online © Cambridge University Press, 2008 THE ECONOMY OF EUROPE I559-1609 lookynge as for glasinge of windowes, pinnes, nedles, knives, daggers, hattes, cappes, broches, buttons, and lases; I wote well all theise doe cost me more now by the third parte well, then they did but seaven yeares agoe.
Naturally, such moneys of account were convertible into actual gold and silver coins, but the conversion rate was not fixed. In brief, their intrinsic value was variable. Any alterations inevitably indicated profound economic movements and changes in structure. 28 Cambridge Histories Online © Cambridge University Press, 2008 THE ECONOMY OF EUROPE I559-1609 At the time, theorists were aware of the problem, and the controversy in 1566-8 between the Sieur de Malestroit and Jean Bodin affords ample proof of this.
Counter-Reformation and Price Revolution, 1559–1610 (The New Cambridge Modern History, Volume 3) by R. B. Wernham