Philip V: Economic and Social Reform in Spain

The reign of Philip V is one of the largest in Spanish History, lasting from 1700 to 1746. Being the first Borbon in Spain, the new king followed the reformist paths already begun by his predecessor, the last Austrian, Charles II. But the new governments will speed up the activity. First of all, Philip had to wage a War of Succession in order to hold the throne. With the conflict finished, the king allowed his ministers to implement a series of reforms that will change the society and the economy of Spain. If in the Treaty of Utrecht, in 1713, Spain lost European territories of the Monarchy and exclusive trade privileges in Spanish America, by 1750 the Monarchy regained its privileges and controlled the kingdom of Naples with a son of Philip, Charles, in the throne. That measures the recovery of the Spanish power, an achievement of Philip V governments that is more than a prologue for the future power of Charles III.