Los juros de eclesiásticos. Participación de los conventos andaluces en la Deuda Publica Castellana

A strongly rentier mentality prevailed in the Spanish Catholic church during the XVIth and XVIIth centuries. Investments were applied to the acquisition of real estate properties to be rented for long periods of time, or used to grant credits, either private ones (censos consignativos) or public credits (juros). Church institutions finally became during the XVIIth century the main monopolizers of public debt bonds. The advantages granted by the Crown allowed the clergy a propitious position for the acquisition of new bonds by means of speculative operations that were nearly fraudulent. However, the bankruptcy of the Spanish monarchy eventually affected the Church itself, and it placed some institutions in a difficult financial position.