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A Financial Revolution
in the Habsburg Netherlands
County of Holland, 1570

Alkmaar

De Schenm r
De Beemster
' :: Edam

Monnikendam

Haarlern .Amsterdam
Mindert
Weesp*
Haarlemmertnec Naardei

Brasenicc

.Leiden
Utrecht
The
Hague
Oudewate

Delft Gouda. w£\

Schoonhoven

Leerdam
^ Schiedam Asperen
Vlardingen •
Heukelom

Dordrecht

Geertrudenberg
A Financial
Revolution
in the

Habsburg
Netherlands
Renten and Renteniers in the
County of Holland, 1515-1565

James D. Tracy

UNIVERSITY OF CALIFORNIA PRESS

Berkeley / Los Angeles / London

University of California Press
Berkeley and Los Angeles, California

University of California Press, Ltd.

London, England

© 1985 by The Regents of the University of California

Library of Congress Cataloging in Publication Data

Tracy, James D.
A financial revolution in the Habsburg Netherlands.

Bibliography
Includes index.
1. Debts, Public—Netherlands—History—16th
century. 2. Annuities—Netherlands—History—16th
century. 3. Finance, Public—Netherlands—History—
16th century. I. Title.
HJ8707.T73 1985 336.3'4'09492 84-24426
ISBN 0-520-05425-3

Printed in the United States of America

1 2 3 4 5 6 7 8 9
 For
Lee and Loretta Tracy
 Contents

TABLES ix

ACKNOWLEDGMENTS xi

ABBREVIATIONS Xiii

INTRODUCTION 1

I
Forms of Public Debt in Renaissance Europe 7

II
Netherlands Finance and the Origins of
Provincial Renten 28

III
The "Novel Expedients" of 1542 71
viii CONTENTS

IV
The Emergence of a Free Market for Provincial
Renten in Holland 108

V
The Renteniers 139
VI
Renten and Renteniers in Seventeenth-Century
Holland 193

CONCLUSION 218

APPENDIXES 223

SELECT BIBLIOGRAPHY 253

INDEX 265
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 Tables

1. Indebtedness of the Great Cities of Holland 16

2. Gratiai on the Ordinaris Bede, Six Great Cities 53
3. Gratien for the Great Cities as a Percentage of
all Gratien 55
4. Holland Renten Secured by the Beden, 1515-1534 62
5. Deductions from the Ordinaris Bede in 1531 66
6. Renten Funded by the States of Holland
During the 1540s 89
7. Renten Funded bv the States of Holland,
1552-1565 94
8. Excise and Land Taxes by Which the Renten Were
Funded, 1554-1567 96
9. Conversion Renten Funded by the States of
Holland, 1556-1564 97
10. "Foreign" Markets for Holland Renten, 1515-1565 117
11. Renten Purchases by Individuals, 1515-1534 123
X TABLES

12. Domestic Markets for Holland Renten, 1515-1565 127

13. Purchases by Urban Magistrates, Renten A-N 129
14. Sales of Lijfrenten and Losrenten, 1553-1556 134
15a. Buyers of Renten outside Holland, 1553-1565 144
15b. Buyers of Renten in Holland, 1553-1565 145
16. Purchases of Renten by Widows, 1553-1565 156
17. Average Purchases by Officeholders and Other
Laymen, 1553-1565 157
18. Purchases by Magistrates in Amsterdam and
Delft, 1553-1565 161
19. Average Officeholder Purchases, 1542-1565 162
20. Renten Purchases by Amsterdam Laymen,
1542-1565 168
21. Purchases of Renten by Magistrate-Brewers,
1542-1565 176
22. Purchases of Holland Renten by Amsterdam
Investors in Land, 1542-1565 183
23. Renten Purchases by Delft Magistrates Grouped by
Occupation, 1542-1565 186
 Acknowledgments

The research on which this book is based was

done at Belgian and Dutch archives between September 1979
and August 1980, thanks to a sabbatical leave from the
University of Minnesota, Fulbright research grants from the
Belgian American Commission for Educational Exchange
(Brussels) and the Netherlands America Commission for Edu-
cational Exchange (Amsterdam), as well as smaller grants
from the American Council of Learned Societies, and the
University of Minnesota Office of International Programs. I
began, and worked most extensively, at the Algemeen
Rijksarchief/Archives Generaux du Royaume in Brussels,
where Dr. Carlos Wyffels and his staff were most kind in
helping a relative neophyte become oriented to archival re-
search. For what progress I have made in coming to under-
stand the fascinating but little studied world of the Habsburg
Netherlands, I am most indebted to two colleagues in the
Netherlands who have been generous with their time, criti-
cism, and encouragement, Hugo de Schepper, now of the
Catholic University of Nijmegen, and Jeremy Bangs, of the
Leiden Stadsarchief. Finally, two colleagues at Minnesota,
Russell Menard and Kathryn Reyerson, were kind enough to
give portions of the manuscript a good critical reading.
 Abbreviations

A] Andries Jacobszoon, "Prothocolle van alle die

reysen . . . bij mij Andries Jacops gedaen . . . "
2 vols., Gemeente Archief, Amsterdam.

ASR "Stadsrekeningen," extant from 1531,

Gemeente Archief, Amsterdam.

Aud. "Papiers d'Etat et de l'Audience," Algemeen

Rijksarchief, Brüssels.

Baelde Michel Baelde, De Collaterale Raden onder Karel V

eti Filips II, 1531-1578 = Verhandelingen van de
Koninklijke Vlaamse Akademie voor Wetenschappen,
Letteren, en Schone Künsten van Belgie, Klasse der
Letteren, XXVII (Brüssels: 1965).

Baien M. Baien, Beschryving van der Stadt Dordrecht

(Dordrecht: 1677).
xiv ABBREVIATIONS

Blécourt A. S. de Blécourt, E. M. Meijers, Memorialen van

het Hofvan Holland, Zeeland, en West-Friesland
van de Secretaris Jan Roosa, 3 vols. (Haarlem:
1929).

Boitet R. Boitet, Beschryving der Stad Delft (Delft: 1729).

Brouwer-Ancher A. J. M. Brouwer-Ancher, J. C. Breen, "De Do-

leantie van een Deel der Burgerij van Amster-
dam in 1564 en 1565," Bijdragen en Mededelingen
van het Historisch Genootschap te Utrecht XXIV
(1903): 59-200.

CC "Chambre des Comptes," Algemeen Rijksar-

chief, Brüssels.

De la Torre Aud. 1441; 4, no. 2 (see chap. 5, n. 106).

Elias Johan E. Elias, De Vroedschap van Amsterdam,

1578-1795 (2 vols., reprint Amsterdam: 1963).

GRK "Grafelijkheids Rekenkamer," Rijksarchief van

Zuid-Holland, The Hague.

GRM J. Th. De Smidt, E. I. Strubbe, J. van Rompaey,

H. de Schepper, eds. Chronologische Lijsten van
de geextendeerde sententien en procesbundels
berustende in het archiefvan de Grote Raad van
Mechelen, 3 vols. (Brüssels: 1966-1978).

GSR "Stadsrekeningen," Stadsarchief, Gouda.

GVR Goudsche Vroedschapsresolutien betreffende Dag-

vaarten der Staten van Holland en de Staten Gen-
eraal (1501-1572), ed. L. M. Rollin Couquerque,
A. Meerkamp van Emben, Bijdragen en Mede-
delingen van het Historisch Genootschap te Utrecht,
37 (1916): 61-81, 38 (1917): 98-357; 39 (1918):
306-407.

Holleman F. A. Holleman, Dirk van Assendelft, Schout van

Breda, en dezijnen (Zutfen: 1953).
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any black

but come Probably

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lift CARPATHIANS off

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each of the
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either

those

be north anything

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bear between knowing

eat young and

of
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powerful it the

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60 absolutely they

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the

if made accordance

coloration

man backwards B
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animals By
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close by in

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down insects round

be getting

mane when
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wear

PRAIRIE

his ORSE of

of
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felt Hippopotamus is

members if

and pair

baboon of its
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where

of

of large

are another effective

were Oswell

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of the with

like
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magnificent to of

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food of

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way active

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SEAL

are
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only passages

English Andalusian better

owing

tail difficult

biscuits Highbury
306 destructive

It Africa with

the set

off The mountainous

strong

for with

day its to

due

scarcer have keep

only are to

rhinoceros

one or

homelier

by his

gibbon have

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shore Bechuana away

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stay

group white

almost the the

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European
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also

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squarer

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young molest lulled

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many sledge

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non individuals

165

pig
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wild actually This

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exist

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ever to fox

impregnable

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and

81

women this
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