FROM PATACAS TO DOUBLOONS: The flow of metal coins in the captaincy of Pernambuco during the first half of the 18th century
Currency, Law of August 4, 1688, Captaincy of Pernambuco, Atlantic economy.
Gold and silver are metals that have been objects of desire and pursuit for Portugal since the beginning of its colonization of the American lands. In this dissertation, we investigate the issue of cash in Pernambuco in the first half of the 18th century and how the influence provided by Portuguese monetary policy occurred in the captaincy. The time frame covers the period from the enactment of the Law of August 4, 1688 until the end of the first half of the 18th century. Seeking to understand the circulation and quantity of coins in the surrounding colonial environment, we will also first address the reforms of D. Sebastião through the Portuguese restoration, envisioning the European economic context during the 17th century. We then move on to focus on the Law of August 4, 1688, part of an attempt by the Portuguese Crown to control the circulation of restricted coins and its relationship with the subsequent creation of the itinerant mint, focusing on its passage through the captaincy of Pernambuco. Likewise, we analyzed the intention of the Crown and also the colonial reaction to the new monetary policy and the creation of the itinerant Mint, especially its brief stay in Pernambuco. In other words, we understand the impact of the establishment of the Mint in the captaincy on the resolution of the cash problems that existed until then, investigated based on the Laws and ordinances and letters sent to the Overseas Council. So far, it can be stated that the brief operation of the Mint did not solve, in the medium term, the cash problems that existed until then in Pernambuco.