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| Author: | Redworth, G. |
| Title: | Philip I of England, embezzlement, and the quantity theory of money |
| Journal: | Economic History Review
2002 : MAY, VOL. 55:2, p. 248-261 |
| Index terms: | ECONOMICS ECONOMIC HISTORY ENGLAND THEORIES |
| Language: | eng |
| Abstract: | In 1975 Challis restated the case for a possible connection between Spanish bullion and rising prices in England during the second half of the sixteenth century. He suggested that 'perhaps the pendulum has swung too far away' from an older view which applied the quantity theory of money to explain the rise in Tudor prices, and that 'if the debate over the significance of Spanish bullion is to be taken further the contemporary record must be examined to see what support there is for the proposition that Spanish bullion did penetrate the later sixteenth- century economy'. What happened to the treasure once it disappeared into the Tower has remained a mystery until now. At the beginning of the 20th century, Symonds took issue with the chroniclers by suggesting that the treasure may not have been entirely in the form of bullion. |
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