Isabella I of Castile
Finances

From the very beginning of her reign, Isabella fully grasped the importance of restoring the Crown's finances. The reign of Henry IV had left the Kingdom of Castile in great debt. Upon examination, it was found that the chief cause of the nation's poverty was the wholesale alienation of royal estates during Henry's reign. To make money, Henry had sold off royal estates at prices well below their value. The Cortes of Toledo of 1480 came to the conclusion that the only hope of lasting financial reform lay in a resumption of these alienated lands and rents. This decision was warmly approved by many leading nobles of the court, but Isabella was reluctant to take such drastic measures. It was decided that the Archbishop of Toledo would hold an enquiry into the tenure of estates and rents acquired during Henry IV's reign. Those that had not been granted as a reward for services were to be restored without compensation, while those that had been sold at a price far below their real value were to be bought back at the same sum. While many of the nobility were forced to pay large sums of money for their estates, the royal treasury became even richer. Isabella's one stipulation was that there would be no revocation of gifts made to churches, hospitals, or the poor.

Another issue of money was the overproduction of coinage and the abundance of mints in the kingdom. During Henry's reign, the number of mints regularly producing money had increased from just five to 150. Much of the coinage produced in these mints was nearly worthless. During the first year of her reign, Isabella established a monopoly over the royal mints and fixed a legal standard to which the coinage had to approximate. By shutting down many of the mints and taking royal control over the production of money, Isabella restored the confidence of the public in the Crown's ability to handle the kingdom's finances.
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