Presencia y fortuna de los hombres de negocios genoveses durante la crisis hispana de 1640

Abstract

The prominence of Genoese financiers in making deals with the Spanish Monarchy during the reigns of Philip II, Philip III and —until 1627, with the suspension of payment— Philip IV, was clear. During the 1630s, although they could not exercise their erstwhile monopoly as Portuguese converses burst into the financial arena, they remained dominant in negotiations of general provisions. However, the peculiar state of affairs for the Spanish Monarchy in the 1640s did alter their standing and attitudes. This article analyses their conduct during these hard years. This involved retreat from the events of 1640 until the fall of Olivares, followed by a timid reappearance when, the favourite was replaced, and a short-lived prominence after the suspension of payments in 1648. This prominence was thwarted at once, for the crown's offer to compensate their financial services was not appealing enough in economic terms and posed too high a social cost for Genoese merchant families, integrated into the Castilian aristocratic circles.