The vertebrae of the Leviathan : municipal debt and state formation in the eighteenth-century Crown of Aragon

Abstract

Why and how did modern states emerge in Southwestern Europe? These are the main questions that this thesis answers by examining the debt of six municipalities of the Crown of Aragon during the 18th century through a multiscale, transversal, and comparative approach. The ancient practices which constituted the Aragonese polity appeared in the mid-fourteenth century and survived at least until the mid-eighteenth century partially thanks to the debt of the municipalities. Towns and kingdoms were in many cases ruled by assemblies of creditors by virtue of debt restructuring agreements. Debt accounts for the long survival of the Aragonese polity, but also for its sclerosis. The financial situation of the debtholders, mostly ecclesiastical institutions, prevented rulers from defaulting on municipal debt and adopting drastic measures against the Church, as they feared a financial meltdown. The emergence of the modern state was an intricate process which started by 1750, mainly due to the collapse of the ancient mechanisms. The modern state appeared as a set of practices devised and implemented by a myriad of actors who tried to recompose social and political life. State formation was first and foremost a local process in which municipal debt proved crucial too. The examination of local dynamics reveals that modern states in Southwestern Europe followed similar paths during the early phases of their formation.