Decline of the Spanish Habsburgs: From Felipe III to Carlos II
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Decline of the Spanish Habsburgs (1598-1700)
Reign of Felipe III (1598-1621)
A trade authority was founded in Sevilla to regulate trade with America, impose taxes on goods entering Spain, and control emigration. Unlike his energetic father, Felipe III delegated political decisions to a royal favorite, the Duke of Lerma, who prioritized personal interests over effective governance. This led to financial problems that severely impacted the Spanish economy. The Duke of Lerma's most disastrous decision was the expulsion of the Moriscos in 1609. This hard-working minority group's departure further damaged the already weakened economy. In foreign affairs, a period of relative peace followed the continuous wars of the previous century. Peace was signed... Continue reading "Decline of the Spanish Habsburgs: From Felipe III to Carlos II" »