Abstract
This paper analyzes the evolution of the total revenues of the Spanish Royal Treasury and the changes in its structure between 1680 and 1807. After stagnating in the first half of the century, the revenues of the Royal Treasury increased significantly in constant terms, but rather less in real ones. The stagnation of 1730-1742 is explained by the collapse of the Provincial Revenues, while the growth of 1762-1792 was driven by Customs duties, Fiscal monopolies and Remittances from the Indies, following the liberalizing decrees of the American trade. The war cycle started in 1793 was funded with extraordinary revenues (public debt, donations). A comparison with the British Treasury shows that the revenues of Spanish Treasury grew much less during these wars, due to a set of reasons we deal with in the concluding remarks.
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