José Campillo and the Aftermath of the Failure of 1739: a Political Project for the Royal Treasury

Abstract

The suspension of payments of 1739 raised the problem of the relation between the monarchy and businessmen, but also political questions: what authority could Secretary of the Treasury have on the Ministers of War or Sea-coast? What limits could be imposed on the proper king in the expense? I check a classic interpretation: according to this one, neither the author of the suspension, Iturralde, nor his successor, Verdes Montenegro, solved those questions, for being personally compromised with businessmen, and only Campillo initiated a virtuous way, expelling private interests from the Royal Finances. For it, I examine Campillo’s project, his political strategy and his practice in the relations with businessmen and the control of the expense. I think that he didn’t seek to expel businessmen, but to impose on them new rules compatible with a centralizing project.