• -€31.00
CERTIFICATO D'USUFRUTTO - RENDITA CONSOLIDATA 5% - NAPOLI 1862
CERTIFICATO D'USUFRUTTO - RENDITA CONSOLIDATA 5% - NAPOLI 1862

1862 - CERTIFICATO D'USUFRUTTO - RENDITA CONSOLIDATA 5% - NAPOLI

3439
In Stock
€99.00 Our previous price €130.00 -€31.00
Tax included Shipping excluded

DEBITO PUBBLICO DEL REGNO D'ITALIA
1862 - CERTIFICATO D'USUFRUTTO - RENDITA CONSOLIDATA 5% - NAPOLI 

Il Regno d'Italia fu lo Stato italiano proclamato il 17 marzo 1861 con l'Unità d'Italia, durante il Risorgimento italiano, in seguito alla seconda guerra d'indipendenza combattuta dal Regno di Sardegna per conseguire l'unificazione nazionale italiana, unificazione poi proseguita con la Terza guerra d'indipendenza italiana nel 1866 e l'annessione dello Stato Pontificio, con la conseguente presa di Roma, nel 1870.

Description

Of great importance was the liquidation of the ecclesiastical axis which was linked to the public debt.

The transaction which consisted of a total of 500 million nominal bonds in two tranches that would have served to accept the payment for the purchase of the ecclesiastical axis assets from private individuals.

But this did not turn out to be a successful operation as the following year already, 150 million of the first tranche were given as guarantee to the National Bank for an advance of 100 million to the Treasury. Also in 1867, a Regia was established to which the monopoly on tobacco was sold for fifteen years, for an annual fee to be paid to the Treasury and through an advance of 180 million in gold through the issue of bonds.

In the years to come, the government aimed to reduce interest expenditure by reducing the budget deficit by resorting to credit operations with the National Bank, issuing an annuity on which the state paid interest which was, however, paid back in exchange for cash. at sixty percent of the cost.

In 1872 a new agreement was stipulated by the National Bank which granted the Italian state a loan of 300 million at 0.5% interest.

While in the first decade of national unity, for too many reasons it got out of hand and the budget swelled, after the capture of Rome in 1870, and therefore the unitary process ended, the Kingdom and its rulers were finally able to concentrate on that a problem that too long had to be postponed, the budget and the achievement of that much desired goal, as well as the high-priced historical right, ie the balance of the budget.

On March 16, 1876, Prime Minister Marco Minghetti, declared to parliament that the goal of the budget balance had finally been reached, two days later, however, Minghetti was beaten in parliament and gave birth to the period that goes under the name of Historical Left which will last until 1896. The balance was achieved mainly thanks to the increase that was achieved, through the policies of the historical Right, in the entrance of the State.

The expenses to be incurred by the state were immense, due to the construction of the state apparatus, infrastructure, especially in the rail sector and all those costs that the nascent Kingdom took on for the needs expressed by the then Minister of Public Works Stefano Jacini in this report:

"In the years now passed, it was urgently necessary, and we would say almost precipitously, to repair the inertia of past governments with respect to public works: open new ways, extend and strengthen defenses against rivers, lead the waters to double the fertility of vast land, to reach the most remote part of the peninsula that wonderful tool of civilization, progress and power that is the steamer, to make distances disappear by connecting the thousand cities of Italy with telegraph wires, perfect, expand and speed up and at the same time the service of the post office, creating a national steam marina ... And all these works, which in other times would have fed for many years the activity of a great nation, Italy had to carry them out, you can say, in a few months, not so much to encourage the increase of industriousness and national wealth, as to ensure its independence, ... to quickly erase the traces of the antics he divisions, and to base his unity and the power of his government on firm foundations ”.

For these reasons and for this "almost obligatory" choice of active state in various sectors of the economy and infrastructure, they were unable to apply policies to raise the budget.

The other solution, which was the one chosen by the representatives of the historical Right, was to act on the side of the tax levy.

The new tax system that was adopted by the unit was much more similar to the pre-unification tax system of Piedmont and Lombardy, but there were also big news.

The taxes that were adopted were of three types: income tax, i.e. land tax, building tax and movable wealth tax.

The first already existed in all pre-unification states, and the only difficulty was the unification of the cadastral system.

The tax on buildings, on the other hand, was separate from that on land only in Piedmont and Lombardy, was applied to the whole territory at a rate of 16.25%.

While the mobile wealth tax was a novelty for all the former pre-unification states and it affected all types of income except those from land and buildings.

Another group of taxes was that on business.

The third and final group were consumption taxes, including customs duties and also manufacturing taxes, including the most famous and discussed ground coffee tax introduced by the law of 7 July 1868 and repealed in 1884.

Product Details

Place of issue
Napoli
Year of issue
1862
Nation of issue
Regno d'Italia
Rarity Index
R3
Quotation Index
S3
scripofilia

Reviews (0)

No reviews
Product added to wishlist
Product added to compare.