It was these spiraling costs of war which
Citations (1)
- The Rise and Fall of the Great Powers whole source · open book
The general inflation, which saw food prices rise fivefold and industrial prices threefold between 1500 and 1630, was a heavy enough blow to government finances; but this was compounded by the doubling and redoubling in the size of armies and navies. In consequence, the Habsburgs were involved in an almost continual struggle for solvency. Following his various campaigns in the 1540s against Algiers, the French, and the German Protestants, Charles V found that his ordinary and extraordinary income could in no way match expenditures, and his revenues were pledged to the bankers for years ahead.
chapter: Strengths and Weaknesses of the Habsburg Bloc