By Marjolein 't Hart, Joost Jonker, Jan Luiten van Zanden

This publication is the 1st complete evaluate of Dutch monetary heritage from the 16th century to the current day. it really is replete with facts and figures drawn from clean examine for the foremost parts that decided the improvement of public finance, forex and banking. It offers a step by step description of the evolution of the monetary structures in a single of the pioneer international locations of contemporary finance.

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26, 47, 71, 87; Homer 1963, p. 120. 3, mention should be made in this section about the stability of the currency. Frequent debasements by many a monarchical state as to their currencies disrupted the stability of interest rates elsewhere. Such abuses were avoided in this republican state, although the crisis of the 1570s did invite the authorities to adopt such practices also. 5 per cent in 1573. The additional revenue was intended as a public loan, yet the funds were never repaid to the owners.

Their systems of public finance, although in certain respects not as modern as the Dutch, proved much more effective in mobilising resources on a nationwide scale (cf. chapter 4). By then, the shortcomings of the Dutch Republic (its limited area and population, and its fragmented political structure) came to overshadow its initial advantages in urbanisation and commercialisation ft Hart 1995b, p. 85). That the Dutch continued for another century to safeguard their independence and power was mostly due to the enormous reserve of accumulated funds.

Death duties and stamp duties were almost universal, Overijssel and Drenthe were the only exceptions. Passengers in coaches, ferries and tow-boats were mostly taxed by some sort of duty as well, although at times in an indirect way, in a charge upon the owner of the vessel or coach. Methods of collection were quite universal as well. Most of the land taxes and other duties upon property were gathered by provincial and local officials. The common means, however, including all excises and the duties upon agriculture, were farmed out.

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