50 likes | 136 Views
Aim: What factors explain the success of the Dutch and the failure of the Spanish in the 17 th century?.
E N D
Aim: What factors explain the success of the Dutch and the failure of the Spanish in the 17th century? • Republic of the United Provinces of the Netherlands was officially recognized as an independent country in the Treaty of Westphalia (1648). Officially begins the “golden age” of the Netherlands.
Dutch Political Success • No monarchy • Republic → • Provincial Estates: Elected legislatures in each of the seven provinces that handled domestic affairs. Dominated by wealthy businessmen called “regents.” Each one had an executive officer known as the stadholderin charge of military defense. • States General: A federal assembly, handled foreign affairs and war. Representatives were elected by the provincial estates, and any one of them could veto legislation from the States General.
Dutch Economic Success • Thrifty, ambitious, enterprising. Take the profits from herring fishing and build the greatest shipping industry in Europe. • Highest standard of living among all classes in Europe. • Religiously tolerant Good for the economy (why?)
Spanish Economic Failure • Trade with the colonies drops greater competition from local industries and the English and Dutch. • Silver mines in the New World start to dry up widespread ramifications. • Monarchy deals with growing debt by devaluing currency and declaring bankruptcy destroys national credit. Manufacturing and commerce shrink. • Aristocrats continue living in luxury, raise rents for the peasants working on their estates. • Spain’s hardcore Catholicism and religious intolerance hurts the economy.
Spanish Political Failure • Terrible Hapsburg leadership • Philip III (1598-1621): Turns the government over to the duke of Lerma, who uses his position to advance his wealth. • Philip IV (1621-1665): Turns power over to Gasper de Guzman, Count-duke of Olivares. Olivares believes Spain must remain a great imperial power, leading to disastrous wars against the Dutch and the French. • By the early 18th century, the War of Spanish Succession finishes off Spain as a major European power.