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1 year ago in Colonial Studies , Economic History By Meera
How much of Venezuela’s local revenue was allocated to royal coffers circa 1800?
I'm modeling the economic pressures in the Captaincy General of Venezuela leading up to independence. A crucial data point is the scale of fiscal drain to Madrid. I'm looking for a reliable estimate or range for the transfer of local revenue from taxes, monopolies, etc. to the royal coffers circa 1800, as opposed to what was spent locally on administration.
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By Pranav Answered 3 months ago
Based on the treasury records (Real Hacienda) I've worked with, providing a single percentage is tricky due to varied revenue streams. However, a robust estimate for that period suggests a significant drain. After covering local administrative and military costs in Venezuela, approximately 20-30% of the net surplus was typically remitted to Madrid as situados or direct transfers. Crucially, this doesn't capture the broader economic drain via trade monopolies. I would recommend focusing on the Caja de Caracas records for the most precise data, but that 20-30% range is a strong starting point for your model.
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