Season 1, Episode 48

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Joan orders the city of Lleida to pay what they owe to a creditor.

Episode 48


ACA CR R1825 f32r [Source: PARES](https://pares.mcu.es/ParesBusquedas20/catalogo/show/12751618)

ACA CR R1825 f32r Source: PARES

Today’s Document

Historical Thinking Notes

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Questions

Additional Note about Financial Crises from 1380-1396

A 2016 article by Gaspar Feliu i Montfort presents an economic analysis with important implications for understanding the financial aspects of the reign of Joan and Violant.2 The economic context of the Catalan financial industry of the fourteenth century provides overwhelming evidence for the interpretation that by the time of Joan’s ascension to the throne there was nothing any monarch could have done to achieve control over the finances of the state. It is reasonable to credit Joan with an understanding of the situation, since he witnessed his father’s navigation of the 1380 failure of the banking firm of des Cuas and d’Olivella. This firm, the monarchy’s primary source of cash on credit, was a creditor for loans to Pere and Joan that totaled over 314,000 lliures. Pere simply stopped paying, initiating the firm’s bankruptcy, but then the king provided the bankers with a moratorium, in effect helping them to escape their own creditors. The lesson Joan very well might have taken from this saga: there is no discernible financial reality and the financial system was merely a game of musical chairs.

AI Usage

I relied quite heavily on ChatGPT to help with the Latin translation of this document. ChatGPT also reminded me of the article by Sánchez, Sesma Muñoz, and Furió, which was very helpful in understanding the economic context to this document.

Bibliography




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  1. Manuel Manuel, Ángel Sesma Muñoz, and Antoni Furió, “Old and New Forms of Taxation in the Crown of Aragon (13th-14th Centuries).” In La fiscalità nell’economia Europea secc. XIII-XVIII, edited by Simonetta Cavaciocchi, (Firenze University Press, 2008), 8. 

  2. Gaspar Feliu i Montfort, “Finances, Currency and Taxation in the 14th and 15th Centuries,” Catalan Historical Review, no. 9 (2016): 25–44, at 30-36.