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4 - The Royal Church and the Finances of the Viceroyalty

Published online by Cambridge University Press:  14 July 2009

Carlos Marichal
Affiliation:
Colegio de México
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Summary

The wheels on which runs the weighty Monarchy […] are the sectors of agriculture, mining and trade. […] The entire metallic currency of the kingdom is distributed among them and incorporated into the Pious Foundations. This is the blood that runs through the veins of the political body of the kingdom and keeps it alive. Thus, if for any reason the blood were to be drained from that body, its ruin would be inescapable.

Municipal Council of Mexico City (1805)

By 1800 the government of the viceroyalty in New Spain had already amassed a voluminous debt that had been contracted essentially to pay for war expenses of monarchy and empire. This debt was in good measure the result of loans collected among Mexican elites, merchants, miners, landowners, and rentiers, but the royal administration had also garnered much financial support from the church, which constituted a multifaceted array of institutions with an unparalleled ideological and economic influence on colonial society. Indeed, a close analysis of revenues collected by the viceregal administration from 1780 to 1800 reveals that the Catholic Church was perhaps the most important individual supplier of funds to the colonial treasury and hence to the monarchy for its war efforts. These included transfers to the state of substantial portions of tithes, donations, and direct loans from cathedral chapters, monasteries, convents, bishoprics, and pious foundations throughout the viceroyalty.

Type
Chapter
Information
Bankruptcy of Empire
Mexican Silver and the Wars Between Spain, Britain and France, 1760–1810
, pp. 119 - 153
Publisher: Cambridge University Press
Print publication year: 2007

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