What significant financial institution did Philip V establish?
Bank of France
Court of Finances
Federal Reserve
Royal Treasury
Answer
The Court of Finances, as established by Philip V, played a pivotal role in the financial administration and stabilization of the Spanish monarchy. Created in 1717, this influential institution assumed responsibility for managing royal revenues, overseeing budgetary matters, and implementing fiscal reforms. Its centralized structure facilitated efficient financial control and contributed to the economic recovery of Spain during the 18th century.
Sovereign, Strategist, and Successor: Unravel the Tale of Philip V of France
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