La propuesta de reforma monetaria del navarro Diego Cruzat (1551) [A Navarrese Proposal of Monetary Reform]

Abstract

As usual in all frontier regions, Navarre suffered along the sixteenth century a well-known problem, which later would be named as the Gresham Law. It refers to the exit of gold and silver coins and its replacement by low value ones coming from the Kingdom of France. Diego Cruzat, at this time the Treasurer of King Charles I in Navarre, sent a Memorandum to the King with a lot of proposals to slow down the exit of local currency.