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133-541: After receiving a land grant from the Spanish Crown in 1820, Moses Austin planned to be the first to establish an American settlement in Spanish Texas , but he died before his dream was realized. On his deathbed, he pleaded with his son to fulfill his dream to colonize Texas. Stephen led the large group of settlers from Missouri who colonized the northern reaches of then-sovereign Mexico in 1825, and in time,

266-495: A hereditary monarch who reigns as the head of state , being the highest office of the country. The current King is Felipe VI since 19 June 2014, after the abdication of his father, King Juan Carlos I . The Spanish monarchy is constitutionally referred to as The Crown ( Spanish : La Corona ), and it comprises the reigning monarch , his or her royal family, and the Royal Household , which supports and facilitates

399-463: A lead mine . Moses saw potential in the site and by 1791 his family had joined him in what is now Wythe County . Moses and his brother Stephen and several other partners and individuals industrialized the area. Several smelters, furnaces , commissaries, blacksmith shops, liveries, and mills were established. The tiny village around the mines became known as " Austinville ", and Moses came to be known as

532-456: A banker. Financier and co-director Stephen Girard was troubled at Jones' promotion, concerned that he could never provide disinterested leadership for the bank, and businessman John Jacob Astor doubted Jones' ability to wield the bank's regulatory powers effectively. Jones extended the institution's resources liberally in accordance with the post-war "national exuberance", generating large dividends for its stockholders. His administration of

665-619: A court of law. However, special legislation was passed by parliament prior to his abdication that states he may only be tried by Spain's Supreme Court and no other. The Person of the King of Spain is inviolable and shall not be held accountable. His acts shall always be countersigned in the manner established in section 64. Without such countersignature they shall not be valid, except as provided under section 65(2). The concept of lèse-majesté ( lesa-majestad ) exists in Spanish jurisprudence , which

798-450: A down payment of one-fourth of the total cost and the balance in four annual payments. Failure to pay in full in five years meant forfeiture. Public land debt ballooned from $ 3 million in 1815 to $ 17 million in 1818. The U.S. Treasury accepted land payments in the form of banknotes issued by western and southern state banks. These institutions often lacked sufficient specie reserves to back up their vastly over-extended credit. As long as

931-791: A king on the throne, he ruled through a coalition of allied organizations from the Spanish Civil War including, but not limited to, the Falange political party, the supporters of the Bourbon royal family, and the Carlists , until his death in 1975. Despite Franco's alliance with the Carlists, Franco appointed Juan Carlos I de Borbón as his successor, who is credited with presiding over Spain's transition from dictatorship to democracy by fully endorsing political reforms. Impatient with

1064-604: A land grant and permission to settle three hundred families in Texas. On Austin's return trip, he became ill, and he died in June 1821, shortly after arriving back in Missouri. His son Stephen F. Austin carried out his colonization plan several years later, and led the three hundred families to what became the first Anglo-American settlement in Texas. In 1885, the legality of Austin's Spanish property claims were settled posthumously by

1197-724: A mansion called Durham Hall, named for his birth town of Durham, Connecticut . Moses Austin attempted various economic ventures before his plans to settle in Texas came to fruition. Austin failed to successfully maintain the St. Louis Bank and his financial situation suffered from unfavorable shipment deals. Austin's desperation reached a climax in 1820 when a Missouri sheriff threatened to break down his door to collect past debts. Austin's son, Stephen F. Austin , also continued to seek employment in Mississippi and Arkansas to help his poor financial situation. In November 1820, Austin learned that

1330-498: A means to avoid purchasing the high-priced U.S. cotton. India enjoyed not only a longer growing season and lower cost of freight to Britain, but also more cotton-devoted land than the entire Louisiana Purchase. Tench Coxe , a Pennsylvanian political economist and delegate to the Continental Congress, warned of the "substantial evil" exhibited in the rivalry created by foreign competition. Coxe has been dubbed by many as

1463-535: A measure to prevent a future crisis. Banking regulation was seen as primarily a state responsibility, and several states passed regulations in the years following the panic that required banks to maintain certain fixed ratios of capital to ensure their ability to convert to specie. A further effect of the Panic of 1819 was increased support for protective tariffs for American industry. Vocal protectionists, such as Philadelphia printer Mathew Carey , blamed free trade for

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1596-459: A part of upper Spanish Louisiana . In December 1797, Austin and a companion traveled to investigate the Spanish mines. Stephen remained behind to salvage the Virginia business, creating a rift between the two brothers that would last for much of the rest of their lives. The state of Virginia seized much of the property Moses owned and broke up the various operations, which were later purchased from

1729-531: A period of great colonial expansion and trade. The Hispanic Crown retained control over and profited from all operations in overseas colonies (by and large royal assets under a monopoly on trade), including slave trade , developed under the purview of the regalía late-medieval system. The death in 1700 of Charles II , last of the Spanish Habsburgs, triggered the War of the Spanish succession . With

1862-614: A revival of the First Bank of the United States to regulate finance. In the crucible of the War of 1812 , the Treasury of the United States had been compelled to offer $ 16 million in government war bonds in order to stave off bankruptcy due to military costs and wartime loss of revenue. Financier Stephen Girard , business magnate John Jacob Astor and merchant David Parish bought up these government securities and rescued

1995-510: A second dry goods store. In 1785, he married into the affluent iron mining family of Mary Brown, who then became known as Mary Brown Austin . The Austins' second child was born in 1793 and named Stephen Fuller Austin in honor of his father's brother and his mother's great uncle. Their daughter Emily Austin followed in 1795. A second son, James Elijah Brown Austin , was born in 1803. Austin sought to start his own mining business in southwestern Virginia , and in 1789 he traveled there to look at

2128-591: A shortage of manufactured material, as well as the prospect of developing the vast natural resources with westward expansion. A mild nationalist outlook took hold among the "New Republicans", neofederalists led by Speaker of the House Henry Clay and Congressman John C. Calhoun . A three-part program dubbed the American System , incorporating some of the Hamiltonian projects championed by

2261-467: A significant creditor and deplete their specie reserves. Failing this, the Second Bank of the United States would, in theory, cease to honor the banknotes of those financial institutions that refused to promptly settle their government accounts with hard money—a recipe for bankruptcy. The central bank's direct influence on inflationary lending was limited to those chartered banks whose paper currency

2394-536: A span of four years from 1816 to 1820. Employing these "stern procedures", Cheves placed the bank on sound footing in early 1819. A leading critic of the Second Bank of the United States during the Bank War would observe: "The bank was saved, and the people were ruined." Despite the Second Bank of the United States' inept management under the Jones-Cheves administrations, it was not the causative agent in

2527-586: A sudden recovery in European agricultural production in 1817, led to widespread bankruptcies and mass unemployment. The financial disaster and recession provoked popular resentment against banking and business enterprise, along with a general belief that federal government economic policy was fundamentally flawed. Americans, many for the first time, became politically engaged so as to defend their local economic interests. The New Republicans and their American System —tariff protection, internal improvements , and

2660-528: A “Form of Contract for Emigration to Texas” which detailed the obligations of each member joining the settlement in Texas. Austin required emigrants to help build community structures. He also ordered the settlers to own a “Spanish carbine”, a type of gun, to protect the settlement. Austin's relationship with the settlers he recruited was not one of mutual respect, but rather he employed the settlers. Austin contracted his settlers to work from their departure in May, until

2793-584: Is incumbent upon the monarch to "confer civil and military positions and award honors and distinctions in conformity of the law". According to the Spanish Ministry of Justice , nobility and grandee titles are created by the "sovereign grace of the king", and may be passed on to the recipient's heirs, who may not sell the title. Titles may revert to the Crown when their vacancy is observed. Succession of titles may follow one of several courses listed on

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2926-598: Is personally immune from prosecution for acts committed by government ministers in the king's name. Although he is nominally chief executive, his acts are not valid unless countersigned by a minister, who then assumes political and legal responsibility for the act in question. This legal convention mirrors the concept of sovereign immunity which evolved in similar constitutional monarchies. The legal concept of sovereign immunity evolved into other aspects of immunity law in similar liberal democracies , such as parliamentary immunity , judicial immunity , and qualified immunity in

3059-706: Is the crime or offense violating the dignity of the head-of-state or the State itself. According to Article 56 of the 1978 Constitution the monarch and the dignity of the Spanish State are one and the same: "The King is Head of State, the symbol of its unity and permanence". Breaching Spain's lèse-majesté laws may carry fines and up to two years in prison. The concept is within the same legal sphere as legislation prohibiting flag desecration in other democratic countries. Additionally, lèse-majesté extends to any foreign heads-of-state visiting Spain, and other members of

3192-712: The Bourbon Reforms , attempted to rationalize administration and produce more revenue from the overseas empire. During the Napoleonic Wars , the French Emperor Napoleon Bonaparte forced Ferdinand VII to abdicate in 1808, and the Bourbons became a focus of popular resistance against French rule. However, Ferdinand's rejection of the liberal Spanish Constitution of 1812 , as well as his ministerial appointments, particularly

3325-593: The Order of Alfonso X , the Royal and Military Order of Saint Hermenegild , the Order of Saint Raimundo de Penafort , the Order of Military Merit , the Order of Naval Merit , the Order of Aerial Merit , the Order of Civil Merit , the Order of Cultural Merit , the Order of Calatrava , the Order of the Knights of Santiago , the Order of Sant Jordi d'Alfama , and the Order of Alcántara , among others. The Spanish monarch

3458-760: The Organization of Ibero-American States , representing over 700,000,000 people in twenty-four member nations worldwide. The monarchy in Spain has its roots in the Visigothic Kingdom and its Christian successor states of Navarre , Asturias (later Leon and Castille ) and Aragon , which fought the Reconquista or Reconquest of the Iberian peninsula following the Umayyad conquest of Hispania in

3591-585: The Spanish Armed Forces . The constitution codifies the use of royal styles and titulary, royal prerogatives , hereditary succession to the crown , compensation , and a regency -guardianship contingency in cases of the monarch's minority or incapacitation . According to the Constitution, the monarch is also instrumental in promoting relations with the "nations of its historical community". The monarch serves as honorary president of

3724-761: The Speaker of the Congress (who, in this instance, represents the whole of the Cortes Generales). Panic of 1819 The Panic of 1819 was the first widespread and durable financial crisis in the United States that slowed westward expansion in the Cotton Belt and was followed by a general collapse of the American economy that persisted through 1821. The Panic heralded the transition of

3857-593: The Texas Revolution in 1836 which foreshadowed Texas's integration into the United States in 1845. Austin died of pneumonia . His tomb is located in Potosi, Missouri . [REDACTED] Media related to Moses Austin at Wikimedia Commons Monarchy of Spain The monarchy of Spain or Spanish monarchy ( Spanish : Monarquía Española ) is the constitutional form of government of Spain . It consists of

3990-647: The Title of Concession when the title is created. As a general rule, most titles are now inherited by absolute Cognatic Primogeniture (as of 2006), in which the first born inherits all titles regardless of gender. However, a title holder may designate his successor, Succession by Assignment , or disperse his titles among his children – with the eldest getting the highest-ranking title, Succession by Distribution . During his reign between 1975 and 2014, King Juan Carlos awarded peerages to two of his former prime ministers who had retired from active politics: Adolfo Suárez , who

4123-506: The War of 1812 (1812–1815) with the United Kingdom, the American government turned to these new banks for loans, encouraging a proliferation of paper money . This practice tended to shift specie into the more conservatively lending New England banking apparatus, depleting the newer banks of their hard money reserves. In response, the U.S. government acquiesced in a suspension of specie payments from state banks in order to prolong

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4256-582: The empresario system in Texas, which resulted in permission to begin a new settlement in Texas. This outdated reward system granted tracts of land to immigrants who pledged their allegiance to the Spanish crown. Therefore, Austin's settlement was contingent upon its allegiance to the Spanish Crown. After returning from successful negotiations in San Antonio , Austin returned to Missouri to recruit settlers for his new settlement. In April, he created

4389-479: The regency of the monarchy and guardianship of the person of the monarch in the event of his minority or incapacitation. The office of Regent(s) and the Guardianship of the monarch (whether the monarch is in his minority or incapacitated) may not necessarily be the same person. In the event of the minority of the monarch, the surviving mother or father, or oldest relative of legal age who is nearest in line to

4522-458: The "Lead King". The Austin brothers soon incurred debts, causing the collapse of the company. After the Virginia lead business failed, Moses skipped out to avoid imprisonment and the consequences of debt, which was then customary for debtors in the U.S. under traditional English law (now being developed for U.S. federal and state codes), and looked toward the rich lead deposits in Missouri , then

4655-495: The "father of the American cotton industry". Cotton value began to waver in 1818, threatening to burst the speculative bubble. A general contraction in lending was indicated in response to these developments in Europe. In August 1818, with credit dangerously overextended, BUS branch offices began to reject all state-chartered banknotes under the direction of William Jones. Exceptions were made for notes used as revenue payments to

4788-790: The 15th century, the marriage between Isabella I of Castile and Ferdinand II of Aragon , both members of the House of Trastámara , known as the Catholic Monarchs , united two important kingdoms of the Iberian Peninsula . Each kingdom retained its basic structure. The last pretender of the crown of the Byzantine Empire , Andreas Palaiologos , who styled himself as "Emperor of Constantinople", bestowed his imperial title to Ferdinand II of Aragon and Isabella I of Castile in his last testament, dated 7 April 1502, although

4921-496: The 8th century. One of the earliest influential dynasties was the House of Jiménez which united much of Christian Iberia under its leadership in the 11th century. From Sancho III of Navarre (r. 1000–1035) until Urraca of León and Castile (r. 1106–1125), members of the Jiménez family claimed the historic Visigothic title Imperator totius Hispaniae or Emperor of All Spain . The Jiménez rulers sought to bring their kingdoms into

5054-601: The Bank of St. Louis, but the bank failed in the Panic of 1819 , causing him to lose his entire fortune. He again sought help from Spain. In 1820, Austin traveled to the Presidio San Antonio de Béxar in Spanish Texas and presented a plan to colonize Texas with Anglo-Americans to Governor Antonio María Martínez . In 1821, the governor asked Austin's friend, Erasmo Seguín , to give him the news that he had been awarded

5187-887: The Bank of the United States assumed its regulatory functions. Under these "ominous terms" the bank was launched—its operational success already at risk. The eighteen branch offices of the SBUS in 1817 operated with little oversight from the Philadelphia headquarters, nor from the U.S. Treasury. This policy stemmed in part from a social philosophy that prevailed among Republicans during the Era of Good Feelings , which wished to Republicanize credit practices and encourage westward migration. The United States government encouraged settlement of these lands by offering public land at $ 2 per acre (160-acre minimum), though auctioneering tended to retard sales and raised prices slightly. The terms required

5320-526: The Constitution and the Laws are sustained, and to respect the rights of the citizens and of the autonomous communities. The 1978 Constitution, Title II The Crown , Article 62, delineates the powers of the king, while Title IV Government and Administration , Article 99, defines the king's role in the appointment of the prime minister and the formation of the council of ministers/government. Title VI Judicial Power , Article 117, Articles 122 through 124, outlines

5453-447: The European balance of power . Philip V was the first member of the House of Bourbon (Spanish: Borbón ) to rule Spain. That dynasty still rules today under Felipe (Philip) VI. In the mid-eighteenth century, particularly under Charles III of Spain , the Spanish Crown embarked on an ambitious and far-reaching project to implement major reforms in the administration of Spain and the Spanish empire. These changes, collectively known as

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5586-467: The European mainstream and often engaged in cross- Pyrenees alliances and marriages, and became patrons to Cluniac Reforms (c. 950–c. 1130). Urraca's son and heir Alfonso VII of León and Castile , the first of the Spanish branch of the Burgundy Family , was the last to claim the imperial title of Spain , but divided his empire among his sons. The Castilian Civil War (1366 to 1369) ended with

5719-580: The Federalists, proposed "to create a stable economy through a centralized banking system, stimulated by an ever widening web of transportation and communication, through which domestic manufactures could eventually reach all parts of the Union". Advocates of the American System called for a protective tariff to encourage manufacturing, a federally funded program for internal improvements and

5852-660: The Nationalists. Fascist Italy and Nazi Germany aided Franco in the Spanish Civil War. The Soviet Union backed the Republican Government as did Mexico under the government of Lázaro Cárdenas . After sixteen years without monarchy or kingdom, in 1947, Spain was made a Kingdom again by General Franco, who claimed to rule Spain as Head of state of the Kingdom of Spain through the Law of Succession . However, without

5985-420: The Panic of 1819 or its aftermath. The historical processes contributing to the panic and depression, which were beyond the bank's control, included the European market fluctuations, obstruction from the numerous private banks to federal regulations and the widespread ignorance among lenders and borrowers as to the new financial mechanisms that made possible the credit expansion and land boom. The bank's role

6118-485: The Panic, these precarious economic conditions—a manifestation of "rapid expansion, speculation and wildcat banking " —prevailed in the South and West, where the economic collapse would be most severe. By July 1818, the Second Bank of the United States had demand liabilities exceeding $ 22.4 million, whereas its specie fund stood at $ 2.4 million—a 10:1 ratio and double the 5:1 ratio considered sustainable. The onset of

6251-639: The Pragmatic Sanction argued that it was never officially promulgated, claiming Ferdinand VII's younger brother, Prince Carlos , the rightful heir to the crown according to the Salic Law. In September 1873, the First Spanish Republic was founded. A coup d'état restored the Bourbon dynasty to the throne in 1874. In 1931 Spanish local elections produced victories (particularly in urban areas) for candidates favoring an end to

6384-577: The Relief for Public Land Debtors Act. The bill allowed debtors who owed money on land purchased from the government to keep the part of land they had already paid for and relinquish the remaining amount. It further extended the schedule of payments by several years, with a discount for quick payment. With the exception of New England states, most of the country strongly supported the measure. Many state legislatures, particularly in rural western states, passed extra relief measures for debtors. Another response to

6517-640: The Republican party leadership. The Democratic-Republican party found itself in control of the national government with the collapse of the Federalist party at the end of the War of 1812. Some of the traditional Jeffersonian agrarian precepts—especially strict construction of the Constitution—had softened due to difficulties during the war arising from a lack of infrastructure, unregulated banking and

6650-491: The SBUS branch offices in the North and East, to fuel another cycle of excessive lending. The SBUS branch banks, emulating their wildcat counterparts, injected so much of their own paper money into circulation that they negated their regulatory capacity: they could not with impunity demand specie payments from state banks that held public deposits without being presented with their own script for convertibility in return. Prior to

6783-526: The SBUS—were exposed to sharp criticism, eliciting a vigorous defense. The United States and the United Kingdom signed the Treaty of Ghent on December 24, 1814, ending the War of 1812 . The British government effectively relinquished its effort to impose mercantilist policies on the United States, preparing the way for the development of free trade and the opening of America's vast western frontier. Europe

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6916-453: The South and West joined with monied interests in the mid-Atlantic states. Pro-SBUS Congressman John C. Calhoun argued forcefully that the federal government had a constitutional obligation to regulate bank credit as part of the national money supply. In January 1816, he introduced a bill of incorporation in the House of Representatives for a government bank (which would become the Second Bank of

7049-402: The Spanish State domestically and internationally, all the while aiming to maintain a professionally non-partisan yet independent monarchy. The Crown of Spain ( la Corona de España ), with its roots in the Visigothic kingdom from the 5th century and subsequent successor states, is recognized in Title II The Crown , Articles 56 through 65 of the Spanish Constitution of 1978 . Constitutionally

7182-418: The Spanish explorations and settlement in the Caribbean, the Spanish conquest of the Aztec Empire and the Spanish conquest of the Inca Empire , the crown established high courts ("Audiencias") and viceroyalties in important regions ( Mexico , 1535; Panama , 1538, which was later replaced by Lima , 1542). The viceroy (vice-king) and the Audiencias were the effective administrators of royal policy. In 1505,

7315-439: The Spanish monarchs have never used the title. In 1492 the Catholic Monarchs conquered the Kingdom of Granada in southern Spain, the last Muslim territory in the Iberian peninsula. The unification of Spain is marked from this date, though the Spanish kingdoms continued past that date. The territories of the Spanish empire overseas were dependencies of the Crown of Castile, and Castile had an outsized influence there. Following

7448-441: The Spanish monarchy passed to the House of Habsburg in the person of King Charles I (also Holy Roman Emperor as Charles V), son of Queen Joanna and King Philip I of Castile (usually Philip the Handsome in English). With the death of Ferdinand II of Aragon in 1516 the Aragonese lands were added to Charles and Joanna's territories. With his mother and co-monarch Joanna confined in Tordesillas , claimed to be mad, Charles I

7581-436: The U.S. Supreme Court in Bryan v. Kennett . Moses Austin had many relatives who helped settle Texas, including Stephen F. Austin and Emily Austin Perry (daughter), Moses Austin Bryan (grandson), and others. Moses Austin should be distinguished from his grandson Moses Austin Bryan. James Bryan was his first son-in-law; James F. Perry was his second son-in-law. The Missouri State Archives reflect that Moses Austin lived in

7714-407: The U.S. Treasury with its own metallic reserves. The SBUS, in turn, anticipated that the state banks which had issued the paper money would, upon demand, redeem their currency with gold and silver—"convertibility"—reimbursing the government bank. In order to remain solvent, the state banks would, ideally, constrain their lending of paper money—however profitable—so as not to allow the SBUS to become

7847-420: The U.S. Treasury. In October 1818, the U.S. Treasury demanded a transfer of $ 2 million in specie from the BUS to redeem bonds on the Louisiana Purchase . State banks in the West and South, unable to provide the required specie, began to call in their loans on the heavily mortgaged lands they had financed. Cash-poor farmers and speculators found their land values dropping 50% to 75%. Banks began foreclosing on

7980-444: The United States passed the Adams–Onís Treaty with Spain, which situated present-day Texas in New Spain's territory. Moses Austin hoped the Spanish government would permit free trade with the United States so he left for Texas to try and begin a new economic venture. Mary Brown Austin , Moses Austin's wife, wrote to her cousin explaining Moses's plans to colonize Texas in order to provide for their family. Austin's primary intention

8113-570: The United States). The measure was passed by Congress and signed by President James Madison in April 1816. Opposition to the Bank came from two fronts: the orthodox Tertium quids (or "Old Republicans") who reflexively regarded an enlargement of the central government as an assault on personal liberty and a violation of Jeffersonian agrarianism, and state-chartered private banking interests, who favored paper money but considered federal regulation of local banking operations to be anti-Republican. These ideologies and interests would be arrayed against

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8246-514: The United States. As the reigning monarch the king of Spain has absolute sovereign immunity, he cannot be charged in any court of law in the Spanish state. This immunity applies to both civil and criminal cases. Sovereign immunity is reserved exclusively for the current holder of the Office of King. It does not apply to any other member of the royal family. When Juan Carlos I abdicated the throne to his successor Felipe VI he automatically forfeited his constitutional sovereign immunity and can be charged in

8379-605: The bank resonated with Secretary Crawford's lenient policy with regard to public land receipts in the form of chartered-bank script when specie was scarce nationally. The Second Bank of the United States began operations in January 1817 as fiscal agent of the United States Treasury. After February 20, 1817, the SBUS was scheduled to begin to receive all government revenue in legal tender as required by its charter. Hard money shortages prevailed because U.S. imports exceeded exports and Peruvian and Mexican gold and silver sources failed to replenish specie reserves. Due to this scarcity,

8512-465: The central bank during the Andrew Jackson administration (1829–1837), erupting in a Bank War that would destroy the institution by 1833. The Second Bank of the United States began operations in January 1817 under a twenty-year charter. The revival of the Bank of the United States had two primary objectives: first, to reverse the post-war inflationary practices of state-chartered banks by inducing resumption of convertibility , and second, to expand

8645-421: The coast of Texas. On December 26, 1820, Austin and Felipe Enrique Neri, Baron de Bastrop presented a formal petition to Governor Antonio María Martínez . They requested permission to bring three hundred families to a port in Texas. Most importantly, Austin insisted that the settlers were former subjects of Spain and would be willing to defend the land against foreign enemies. Austin convinced Spain to reinstate

8778-447: The constitution is obeyed. Lastly, the king swears to respect the rights of Spanish citizens and of the self-governing communities. The Prince of Asturias, upon reaching the age of majority, in addition to any regent(s) upon assuming the office, swears the same oath as that of the king along with a further oath of loyalty to the monarch. The oath reads as follows: I swear faithfully to discharge my functions, to sustain and see to it that

8911-420: The country's on-going late-2000s economic crisis . According to the Spanish Constitution voted in referendum , the sovereign power emanates from the people, so it is the very same people who give the king the power to reign: National sovereignty belongs to the Spanish people, from whom all State powers emanate. The monarch " arbitrates and moderates the regular functioning of the institutions " and assumes

9044-404: The death of King Peter (r. 1334–1369) at the hands of his illegitimate half-brother Henry, 1st Count of Trastámara who ruled as Henry II (r. 1369–1379). Henry II became the first of the House of Trastámara to rule over a Spanish kingdom. King Peter's heiress, his granddaughter Catherine of Lancaster , married Henry III , reuniting the dynasties in the person of their son, King John II . In

9177-431: The death of the childless Charles II, the succession to the throne was disputed. Charles II had designated his sister Maria Theresa 's grandson, Philip of France , Duke of Anjou , as his heir. The possible unification of Spain with France, the two big European powers at the time, sparked the Spanish War of Succession in the 18th century, culminating in the treaties of Utrecht (1713) and Rastatt (1714) , which preserved

9310-418: The depression and argued that tariffs would protect American prosperity. In general, support for tariffs was strongest in the mid-Atlantic states and was opposed by export-heavy southern states. The Panic brought attention, for the first time, to issues regarding debt-relief policy, as well as poor relief. City and state governments began to more effectively approach the public policy reform issues surrounding

9443-444: The end of the dictatorship of Francisco Franco and the restoration of democracy in 1977 . The 1978 constitution affirmed the role of the King of Spain as the living personification and embodiment of the Spanish nation and a symbol of Spain's enduring unity and permanence and is also invested as the "arbitrator and the moderator" of Spanish institutions. Constitutionally, the sovereign is the head of state and commander-in-chief of

9576-518: The exclusion of liberals, gradually eroded popular support for the Spanish monarchy. With the Pragmatic Sanction of 1830 , Ferdinand set aside the Salic law , introduced by Philip V, that prohibited women from becoming sovereigns of Spain. Thereby, as had been customary before the arrival of the Bourbons, Ferdinand VII's eldest daughter Isabella became his heiress presumptive . Opponents of

9709-526: The financial disaster—had the effect of deepening the depression, undermining the recovery that was already underway. Through public land debt relief legislation, Cheves managed to reduce the bank's land debt by $ 6 million within a year of assuming his position as BUS President. Specie was also replenished to a great extent, increasing from $ 2.5 million in 1819 to $ 3.4 million by 1820 and further rising to $ 8 million by 1821. As an added consequence, banknotes in circulation were reduced by about $ 23 million within

9842-484: The financial panic has been variously described as "triggered", "pricked", or "precipitated" by the Second Bank of the United States when it initiated a sharp credit contraction beginning in the summer of 1818. The eruption of Mount Tambora in 1815 had created the Year Without a Summer , causing European agriculture to fail that year. The link between the frontier land boom and overseas markets for staple goods

9975-482: The first of the Spanish Bourbons, women were barred from succession until Ferdinand VII reintroduced the right and designated his elder daughter Isabella as his heir presumptive by 1833. The debate on amending the Crown's succession law came to the forefront on 31 October 2005, when Infanta Leonor was born to the current King and Queen of Spain. Amending the law to absolute primogeniture would allow

10108-412: The first-born to inherit the throne, whether the heir be male or female. The Zapatero administration of the day proclaimed its intention to amend the succession law; however, with the birth of the king's second daughter the issue was postponed. Paving the way, in 2006 King Juan Carlos issued a decree reforming the succession to noble titles from male preference primogeniture to absolute primogeniture. Since

10241-425: The following January. In return, Austin guaranteed transportation along with the necessary tools and provisions to begin the settlement. Although Moses Austin died prior to his planned departure, his son, Stephen F. Austin , continued his efforts to colonize Texas. Austin triggered such a substantial movement of people into Texas that the land became inundated with Americans. Austin's push to settle Texas contributed to

10374-414: The frontier spirit. Private banking interests and their allies sought to evade or resist any threat to the profitability of their local enterprises, including the regulatory influence of a government bank limiting easy credit. There followed an enormous expansion in state-chartered banking, with chartered institutions increasing from 88 in 1811 to 208 in 1815, mostly in the mid-Atlantic states. During

10507-399: The general deflationary trends in world prices. With the failure to recharter the First Bank of the United States in 1811, regulatory influence over state banks ceased. Credit-friendly Republicans—entrepreneurs, bankers, farmers—adapted laissez-faire financial principles to the precepts of Jeffersonian political libertarianism —equating land speculation with "rugged individualism" and

10640-510: The hard, difficult labor of digging the lead ore and processing it. Enslaved boys were forced to man the carts that carried ore from the pits to the smelters. Enslaved women and girls were used to prepare food for the enslaved men who worked the mines, pits, and smelting operations. In 1803, Missouri came under the jurisdiction of the United States as part of the Louisiana Purchase . Austin became founder and principal stockholder in

10773-418: The highest representation of the Spanish State in international relations. The monarch exercises the functions expressly conferred on him by the constitution and the laws. The King is Head of State, the symbol of its unity and permanence. He arbitrates and moderates the regular functioning of the institutions, assumes the highest representation of the Spanish State in international relations, especially with

10906-448: The historic dynasty" be included in the text to underscore that the monarchy was a historic institution predating the constitution or the prior regime. The Crown of Spain shall be inherited by the successors of HM Juan Carlos I de Borbón, the legitimate heir of the historic dynasty. Succession to the throne shall follow the regular order of primogeniture and representation, the first line having preference over subsequent lines; and within

11039-470: The king and queen in Madrid, and in 2009 two Galician separatists were fined for burning effigies of the king. According to Article 57 the Crown of Spain is inherited by the successors of King Juan Carlos I de Borbón through male preference primogeniture . While drafting the new constitution, lawyer and liberal congressman Joaquín Satrústegui (1909–1992) insisted that the phrase "the legitimate heir of

11172-566: The king in his minority shall fall under the guardianship of the person designated in the will of the deceased monarch, provided that he or she be of age and of Spanish nationality. If no guardian has been appointed in the will, then the father or mother will then assume the guardianship, as long as they remain widowed. Otherwise, the Cortes Generales shall appoint both the Regent(s) and the guardian, who in this case may not be held by

11305-513: The king of Spain can bestow. The second in order the king may award is the Order of Charles III to "citizens who, with their effort, initiative and work, have brought a distinguished and extraordinary service to the Nation". The Laureate Cross of Saint Ferdinand is Spain's highest military award for gallantry. Other orders, decorations, and medals include the Order of Isabella the Catholic ,

11438-662: The king used a specially designed command communications center in the Zarzuela Palace to denounce the coup and command the military's eleven captains general to stand down. Following the events of 1981, Juan Carlos led a less eventful life, according to author John Hooper. Juan Carlos did not preside over ceremonies such as the opening of hospitals and bridges as often as monarchs in other nations. Instead, he worked towards establishing reliable political customs when transitioning one government administration to another, emphasizing constitutional law and protocol, and representing

11571-452: The king's role in the country's independent judiciary . However, by constitutional convention established by Juan Carlos I, the king exercises his prerogatives having solicited government advice while maintaining a politically non-partisan and independent monarchy. Receiving government advice does not necessarily bind the monarch into executing the advice, except where prescribed by the constitution. His acts shall always be countersigned in

11704-559: The land boom continued, the Treasury Department was compelled to accept depreciated banknotes for its public land sales, undermining government efforts to pay down the war debt, but serving to stave off private bank failures. As the branch offices in the West and Southwest over-issued their SBUS notes to land boom farmers and speculators, they sought to restock their specie reserves by redeeming their own notes for hard money at

11837-442: The liberal wartime lending. The arrangement persisted in the war's aftermath, allowing old and new banks to profitably lend without regard to their hard money currency reserves. A speculative bubble formed as a result of these inflationary practices, threatening the health of the economy. By 1814, calls for a new central bank and a resumption of regulatory controls were heard from powerful capitalists and economic nationalists in

11970-524: The manner established in section 64. Without such countersignature they shall not be valid, except as provided under section 65(2). It is incumbent upon the King: The 1978 constitution confirms the title of the monarch is the King of Spain , but that he may also use other titles historically associated with the Crown. According to Royal Decree 1368/1987, regulating the titles, treatments and honours of

12103-470: The minority or incapacitation of a monarch. No further constitutional language prescribes titles or forms of address to the fourth generation, or great grandchildren, of a reigning monarch. Following his abdication in 2014, Juan Carlos I and his wife Sofía retain courtesy titles of King and Queen of Spain. The monarch's position as the fount of honour within Spain is codified in Article 62 (f); It

12236-469: The monarch embodies and personifies the "indissoluble" unity and permanence of the Spanish State , and represents the legal personality of the State and by extension fulfills the role of " Father of the Nation ". As a unifying figure for the nation, in 2010 King Juan Carlos worked towards "bridging the gap" between Spain's rival polarized political parties to develop a unified strategy in response to

12369-729: The monarch exercises in the formation of Spanish governments is in the nomination and appointment process of the President of the Government ( Presidente del Gobierno de España ). Following the General Election of the Cortes Generales ( Cortes ), and other circumstances provided for in the constitution, the king meets with and interviews the political party leaders represented in the Cortes, and then consults with

12502-418: The monarch, and the children of the heir apparent, shall have the title and rank of Infante or Infanta (prince or princess), and styled His or Her Royal Highness ( Su Alteza Real ). Children of an Infante or Infanta of Spain "shall have the consideration of Spanish Grandees ", and the address of "Your Excellency". The royal decree further limits the ability of any regent to use or create titles during

12635-415: The monarchy and the establishment of a republic. Faced with unrest in the cities, Alfonso XIII went into exile, but did not abdicate. The ensuing provisional government evolved into the relatively short-lived Second Spanish Republic . The Spanish Civil War began in 1936 and ended on 1 April 1939 with the victory of General Francisco Franco and his coalition of allied organizations commonly referred to as

12768-488: The narrow monetary terms then current, limited governmental action to economizing and ensuring fiscal stability. He acquiesced in suspending specie payments to bank depositors, setting a precedent for the Panics of 1837 and 1857 . Although Monroe agreed that improved transportation facilities were needed, he refused to approve appropriations for internal improvements without constitutional amendments. In 1821, Congress passed

12901-504: The nation from its colonial commercial status with Europe toward an independent economy. Though the downturn was driven by global market adjustments in the aftermath of the Napoleonic Wars , its severity was compounded by excessive speculation in public lands, fueled by the unrestrained issue of paper money from banks and business concerns. The Second Bank of the United States (SBUS), itself deeply enmeshed in these inflationary practices, sought to compensate for its laxness in regulating

13034-553: The nation's credit. Through their influence, and in alliance with Republican Congressmen John C. Calhoun and Henry Clay, they sought to augment their investment by proposing that the securities be exchangeable for stock in a new central bank, the Second Bank of the United States (SBUS). Secretary of State James Monroe supported the new bank initiative, wishing to bind these highly regarded and pro-Republican business figures to government financial operations. Republicans in

13167-426: The nations of its historical community, and exercises the functions expressly conferred on him by the Constitution and the laws. Upon accession to the crown and being proclaimed before the Cortes Generales, the king swears an oath to faithfully carry out his constitutional duties and to abide by the constitution and laws of the state. Additionally, the constitution gives the king the added responsibility to ensure that

13300-461: The opportunities for the common man to acquire bank credit, promoting enterprise and an orderly and profitable westward expansion. The regulatory mechanism of the SBUS resided in its fiscal duties as depository for the U.S. Department of the Treasury. As such, the bank accepted circulating state bank paper money from individuals, businesses and importers when they paid taxes or custom duty fees. The central bank immediately credited these payments to

13433-427: The order of succession to the Crown is codified in the Constitution, its reform mandates a complicated process that involves a dissolution of parliament, a constitutional election, and a referendum. If all lines designated by law become extinct, the constitution reserves the right for the Cortes Generales to provide for the succession "in the manner most suitable for Spain". The 1978 constitution disinherits members of

13566-426: The pace of democratic reforms, the new king, known for his formidable personality, dismissed Carlos Arias Navarro and appointed the reformer Adolfo Suárez as President of the Government in 1977. The next year the king signed into law the new liberal democratic Constitution of Spain , which was approved by 88% of voters. Juan Carlos' "quick wit and steady nerve" cut short the attempted military coup in 1981 when

13699-416: The panic was monetary expansion, primarily at the state level. In Tennessee, Kentucky and Illinois, state banks suspended specie payments and issued large amounts of inconvertible notes. However, most other states avoided inflationist policies and enforced the payment of specie. Every state witnessed vigorous debate on the merits of each policy. Treasury Secretary Crawford advocated restricting bank credit as

13832-483: The poor; a classification system was also created (able-bodied vs. disabled, temporary vs. long-term, etc.). Public attention to solving poverty issues consequently led to public education systems. Public support was great once again for protective tariffs. However, when the " Tariff of Abominations " was implemented in 1828, regional discontent led to the outbreak of the Nullification Crisis . The Crisis

13965-419: The post-war years, the collapse of the export market after the bumper crop of 1817 in Europe, low prices of imports from Europe which forced American manufacturers to close, financial instability resulting from both the excessive expansion of state banking after 1811 and the unsound policies of the Second Bank of the United States, and widespread unemployment." President Monroe, interpreting the economic crisis in

14098-432: The practices of lead mining in Missouri. Valle and other French colonizers had long used enslaved African Americans and enslaved Native Americans to mine, and Austin immediately took to these practices. In 1798, the year of his arrival in Missouri, he purchased at least one enslaved man. Moses greatly expanded the use of enslaved men and women in running mining operations in Missouri. Enslaved African American men were used for

14231-476: The private banks. The directors of the SBUS, with Secretary Crawford's imprimatur, promised to refrain from collecting public deposits held in state banks until July 1, 1817. Moreover, they agreed to greatly expand the bank's credit—at a discount of $ 6 million—before proceeding to collect public debt from the state institutions. In effect, the central bank transformed the private banks into its creditors, inviting them to draw specie from SBUS reserves months before

14364-479: The properties and transferring them to their creditor: the Second Bank of the United States. When news arrived in January 1819 that the value of cotton had broken—dropping 25% in a single day—the ensuing panic drove the country into recession. Williams Jones resigned from his position as BUS president and was replaced by South Carolinian Langdon Cheves . The limited curtailment policy initiated by William Jones

14497-459: The recent war, offered new markets for American staple crops, particularly cotton, wheat, corn and tobacco. As prices soared for agricultural goods, a speculative agrarian land boom ensued in the South and West United States, encouraged by liberal terms for government public land sales. "The entire postwar American economy", observed historian George Dangerfield , was "based on a land boom". The inflationary bubble grew from 1815 to 1818, obscuring

14630-635: The regulated banking system, especially in the regions of wildcat banking . President of the United States James Madison and Secretary of the Treasury Alexander Dallas fully approved the elevation of William Jones —one of the federally appointed Bank directors—to SBUS President in October 1816. Jones, formerly a member of Madison's cabinet, owed his promotion more to his political acumen than his skills as

14763-493: The regulatory influence of the central bank—and diminish the large profits derived from the issue of unredeemable paper. On February 1, 1817, an association of bankers from Pennsylvania, New York, Maryland and Virginia met with the new Secretary of the Treasury William H. Crawford and SBUS President William Jones, arranging a compromise which undermined the ability of the central bank to assert its role as creditor to

14896-445: The royal family (as well as their descendants) from succession if they marry against the expressed prohibition of the monarch and the Cortes Generales. Lastly, Article 57 further provides that "Abdications and renunciations and any doubt in fact or in law that may arise in connection with the succession to the Crown shall be settled by an organic act". Constitutionally, the current heirs of Felipe VI are: The constitution outlines

15029-517: The royal family and the regents, the king and his wife, the queen consort , will formally be addressed as "His Majesty and Her Majesty" ( Their Majesties , Spanish: Su Majestad , Su represents His or Her ) rather than the traditional " Catholic Majesty " ( Su Católica Majestad ). A prince consort , the husband of a queen regnant , will have the style "His Royal Highness" ( Su Alteza Real ). The widows and widowers of monarchs are to retain these styles until they remarry. The heir from birth shall hold

15162-520: The royal family, and to the Spanish President of the Government as the king's appointed officer. The Spanish satirical magazine El Jueves was fined for violation of Spain's lèse-majesté laws after publishing an issue with a caricature of the Prince and Princess of Asturias engaging in sexual intercourse on their cover in 2007. In 2008, 400 Catalonia separatists burned images of

15295-491: The same line the closer grade over the more remote; and within the same grade the male over female, and in the same sex, the elder over the younger. Male-preference cognatic primogeniture has been practiced in Spain since the 11th century in the various Visigothic successor states and codified in the Siete Partidas , with women able to inherit in certain circumstances. However, with the succession of Philip V in 1700,

15428-495: The same person, except by the father or mother of direct relation of the king. The constitution defines the government's responsibilities. The government consists of the President of the Government and ministers of state . The government conducts domestic and foreign policy , civil and military administration, and the defense of the nation all in the name of the king. Additionally, the government exercises executive authority and statutory regulations. The most direct prerogative

15561-585: The settlers demanded autonomy and later won independence from Mexico under President Antonio López de Santa Anna , thereby establishing the Republic of Texas . Moses Austin was born October 4, 1761, to Elias Austin and Eunice Phelps Austin in Durham, Connecticut . He is a descendant of Richard Austin on his paternal side. In 1784, he moved to Philadelphia to enter the dry goods business with his brother, Stephen. He then moved to Richmond, Virginia , to open

15694-405: The sovereign in the exercise of his duties and prerogatives. The Royal Family is currently represented by King Felipe VI , Queen Letizia , their daughters Leonor, Princess of Asturias , and Infanta Sofía , and the king's parents, King Juan Carlos I and Queen Sofía . The Spanish Constitution of 1978 re-established a constitutional monarchy as the form of government for Spain after

15827-598: The state at great discounts by Thomas Jackson and his partners — they would later build the Jackson Ferry Shot Tower , one of the few extant shot towers in United States, at this location. In 1798, the Spanish colonial government granted to Moses one league of land (4,428 acres) to undertake lead mining operations. In return he swore allegiance to the Spanish Crown and stated he would settle some families in Missouri. Travelling to Missouri, Austin worked with Francois Valle to identify his claims and to learn

15960-407: The state bank credit market by initiating a sharp curtailment in loans by its western branches, beginning in 1818. Failing to provide gold specie from their reserves when presented with their own banknotes for redemption by the SBUS, the state-chartered banks began foreclosing on the heavily mortgaged farms and business properties they had financed. The ensuing financial panic, in conjunction with

16093-441: The terms of the bank's incorporation provided for private subscribers to invest with a combination of metallic currency and government stock. Further, they were granted an indulgence by Bank directors that effectively waived the specie requirement: ultimately, investors were allowed to purchase Bank shares on the security of the stock itself. Under its charter guidelines, the SBUS was expected to acquire specie totaling $ 28 million by

16226-510: The throne, would immediately assume the office of Regent, who in any case must be Spanish. If a monarch becomes incapacitated, and that incapacitation is recognized by the Cortes Generales, then the Prince of Asturias (the heir apparent), shall immediately become Regent, if he is of age. If the Prince of Asturias is himself a minor, then the Cortes Generales shall appoint a Regency which may be composed of one, three, or five persons. The person of

16359-516: The time it opened for business; but with only $ 2 million secured when it commenced operations, the bank was compelled to purchase specie at usurious rates from the London financial markets in 1817 and 1818, overburdening SBUS credit. As the February 20 deadline approached to resume convertibility , the private (i.e. state-chartered) banks withheld cooperation from SBUS officials, loath to submit to

16492-507: The title of Prince of Asturias and the other titles historically associated with the heir apparent. These additional titles include Prince of Viana , historically associated with the heir apparent to the Kingdom of Navarre ; with the titles Prince of Girona and Duke of Montblanc historically associated with the heir apparent for the Crown of Aragon , among others. Other children of

16625-476: Was created 1st Duke of Suárez ; and Leopoldo Calvo-Sotelo who was created 1st Marquess of la Ría de Ribadeo . All successive politicians remain active within politics. The king grants not only military and civil orders, but also grants awards of distinction, customarily on the advice of government. The Order of the Golden Fleece , one of the oldest surviving orders of chivalry, is the highest honor

16758-419: Was dramatically revealed in 1817, when Europe finally recovered from its post- war harvest shortages and began producing bumper crops. American planters and farmers, who had expanded production to exploit the European demand, discovered agricultural prices declining by half, even as production increased. Southwestern plantations were devastated when Britain began to increase its imports of East India cotton as

16891-417: Was extensively used to remit funds to the government (i.e. tax and duty payments). The SBUS and its branches had little or no direct control over commercial paper emitted by unchartered lending outfits: "All that was necessary to start a bank…was plates, presses and paper; 'a church, a tavern, a blacksmith shop' would be a suitable site." These unregulated credit operations would "to some extent interpenetrate"

17024-501: Was properly one of restraint, so as to automatically suppress the volatility in financial markets—but not to prevent these boom-bust episodes. "If the [Second Bank of the United States] had been wisely managed from the beginning" writes historian George Dangerfield, "it could not have prevented the panic; it could only have modified its effects." "The Panic of 1819 … was compounded by many factors—overexpansion of credit during

17157-399: Was rigorously applied by his successor, former Congressman from South Carolina, Langdon Cheves . Among his promoters were U.S. President James Monroe, BUS directors Stephen Girard and Nicholas Biddle and those stockholders who wanted Bank leadership that was fiscally conservative and immune to political influence. The tight money policy Cheves implemented—a principled effort to cope with

17290-499: Was the sole ruler, but the legal situation remained slightly ambiguous until her death in 1555 left Charles the undoubted sole monarch, though as Holy Roman Emperor it was not his principal title. Only in the reign of his son Philip II of Spain from 1556 did "King of Spain" become the usual way to refer to the monarch, in Spain and the rest of Europe. Philip's reign marked the peak of the Spanish Golden Age (1492–1659),

17423-509: Was to create a trading venture on the coast of Texas to allow the United States to trade with New Spain. On December 23, 1820, Austin arrived in San Antonio to begin negotiations with the Spanish government to establish a trading post. After some difficulty on his own, Austin paired with a Spanish interpreter, Felipe Enrique Neri, Baron de Bastrop , who agreed to join Austin and plan a settlement called "Austina" which would be located somewhere on

17556-407: Was unable to feed its own population. The economy of the United States was not immune to the chaos that afflicted Europe, which contributed to the Panic of 1819. American manufacturers faced U.S. markets swamped with British products, produced by low-paid workers and priced well below competitive rates and forcing many factories out of business. Continental Europe, its agrarian output crippled by

17689-580: Was undergoing a period of disorganization as it readjusted to peacetime production and commerce in the aftermath of the Napoleonic Wars . The general effect was a decline in prices throughout the Western world, due to a scarcity of gold and silver specie . Britain had advanced its industrial capacity to fully meet its wartime demands, but post-war continental Europe was temporarily too devastated to absorb Britain's surplus manufactured goods. Moreover, European agriculture production, exhausted by years of warfare,

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