Augsburg germany jacob fugger jewish holidays 2018

These days, potential tenants have to have lived in Augsburg for at least two years, must be Catholic, and have to have become poor without debt.

Augsburg germany jacob fugger jewish holidays 2018

The name Fugger thus became synonymous with being ripped off, and the term Fuckerei gained general useage to denote the exploiting of simple citizens with overly high payment requests. Website for official family archive and the Augsburg almshouses. Want to keep up with the latest German travel news and views? Germany Holidays: Meet the Fuggers Fabulously rich and influential, the Fuggers of Augsburg were heavily criticised for their sharp business tactics, and as a result their name has become a byword for exploitation.

World's oldest public housing complex still in use, in Germany. Description [ edit ]. History [ edit ]. Upkeep [ edit ]. See also [ edit ]. References [ edit ]. Retrieved 19 December The Wall Street Journal. Archived from the original on Retrieved Archived from the original on February 12, Retrieved November 2, Download PDF Calendar. Email Privacy Policy : We will never sell or give your email address to anyone.

We will never use your email address to send you unsolicited offers. Calendar Settings. Gregorian year common era. Hebrew year. Diaspora holiday schedule. Israel holiday schedule. Major Holidays. Minor Holidays. Rosh Chodesh. Minor Fasts. Special Shabbatot. Modern Holidays. Much later the Fugger family lost a large portion of their wealth following three Spanish state bankruptcies , and under the reign of Philip II of Spain.

Likely at the insistence of Jakob Fugger the company became one of the first open trading companies German : "der compagnia palese des welschen Rechts" [ 23 ] in Europe in At the same time, it was renamed into "Ulrich Fugger of Augsburg and brothers" to show the equality of the three brothers involved in business issues, even though Tyrolean sources almost universally speak of the Jakob Fugger company and central contracts of the Hungarian trade were all signed by him.

At this development the greatly increased influence of Jakob within the company can be observed. During the late s Jakob Fugger dominated the company's policies, although the eldest brother Ulrich still formally led the company. The enormous growth potential in the mining and ore trade was very profitably harnessed by Jakob Fugger in the following years.

As collateral for loans that he had given to the Habsburgs and the King of Hungary , he demanded mine revenues of Tyrol and the transfer of mining rights in Upper Hungary to him. Through this method he eventually established a dominant and almost monopolistic hold on the copper trade in Central Europe. The expansion continued with the construction of smelting plants in Neusohl and nearby Moschnitz , Arnoldstein in Carinthia , Hohenkirchen in Thuringia.

From those ports the copper was shipped to the Russian region and additionally through Antwerp to Lisbon where it was an important Portuguese trade good destined for the export to India. At the time mines from both Tyrol and Hungary provided the bulk of the total European production in copper which provided an incredibly advantageous position in the European market, albeit not a total monopoly.

The Fugger family were the first German trading house in a direct business relationship with the Roman Curia. Peter's Basilica, the Sistine Chapel, as well as other buildings within the Vatican. To repay Jakob the massive amount of money owed, Pope Leo X had to heavily tax the German people as well as sell indulgences, which was heavily unpopular with a large group of monks, including Martin Luther.

Partly because of the corruption within the church, Martin Luther was prompted to write his Ninety-five Theses. Early dealings in Rome are attributed to the cleric Markus Fugger in In the Fugger business was responsible for transferring church revenues from Sweden to Rome. Between and , the company leased the Roman mint, the Zecca , manufacturing 66 types of coins for four different popes.

The commodity trade played a relatively small role compared to the two main branches of the Fugger business, banking and mining. It is only because of the associated exotic investments that Jakob Fugger's early trading expeditions take a prominent place in the history of the Fugger business. After Vasco da Gama 's discovery of the sea route to India and the establishment of the Portuguese spice monopoly, Jakob Fugger took part in the spice trade and in opened a manufactory in Lisbon.

He received permission to trade pepper, other spices, and luxury goods such as pearls and gemstones through Lisbon. Along with other merchant houses of Germany and Italy he contributed to a fleet of 22 Portuguese ships led by Francisco de Almeida that sailed to India in the year and returned in Even though one third of the imported wares had to be ceded to the King of Portugal the operation was still profitable.

However, the Portuguese were still largely dependent on the copper delivered by Fugger which was an essential export good for the trade with India. Unlike the Welser family, Jakob Fugger's participation in the overseas trade was very cautious and conservative, and the only other operation of this kind he invested in was a failed trade expedition to the Maluku Islands led by the Spaniard Garcia de Loaisa.

Especially for mining projects in upper Hungary the Fugger company required enormous capital, which at the time it could not raise. Hence Cardinal Melchior von Meckau was the main sponsor of the Fugger business in The Prince-Bishop had secretly and unknown to his church chapter invested , guilders in the Fugger company in return for interest, thereby evading the official church ban on interest.

The Pope, the bishopric Brixen and the family of Meckau all claiming the inheritance now demanded the immediate payback of these assets which would have resulted in insolvency for Jakob Fugger. It was this situation that prompted Emperor Maximilian I to step in and assist his banker. The inheritance could now be settled by amortizing outstanding debts.

Fugger also had to deliver jewels as compensation to the Pope. However, in return for his support, Maximilian I demanded the continuous financial support of his ongoing military and political campaigns. Since the death of his brothers Georg in and Ulrich in , Jakob Fugger was now running the Fugger business as the sole policy and decision maker.

Emperor Maximilian died in January and bequeathed to his grandson Charles the hereditary lands of House Habsburg with adjoining Burgundian lands as well as a disputed claim to the throne of the Holy Roman Empire. To secure his essential investments into House Habsburg Jakob Fugger decided to support the election of the year-old claimant to the throne.

Francis I had already secured the votes of the Archdiocese of Trier and the Electorate of the Palatinate as well as offering a sum of , guilders of election money. The prince-electors consisted of the three archbishops of Mainz , Cologne and Trier in addition to the King of Bohemia , the Elector of the Palatinate, the Margrave of Brandenburg and the Duke of Saxony.

This was a difficult situation for Charles who now relied on the riches of Jakob Fugger to sway the election in his favor. Fugger transferred the enormous sum of more than , guilders to the prince-electors which ultimately resulted in the unanimous election of Charles Holy Roman Emperor on 28 July Out of this , guilders Fugger himself funded around , while another merchant house of Augsburg, the Welser family, contributed about , and three Italian bankers providing the rest.

What today would be seen as bribery was common practice in the election of the Emperor. Exceptional however were the immense sums involved, mainly due to the keen competition among the princely candidates. A few days later the Pope granted Charles the right to name himself Elected Emperor. He was the last Emperor to receive a papal coronation.

In the debts amounted to more than , guilders. The Emperor amortized , of this sum and in return granted the Fugger company the silver and copper mining operations of Tyrol. Jakob Fugger intervened and reminded the Emperor that "It is known that your imperial majesty could not have claimed the Roman crown without my help, The Fugger company was involved in the Spanish mining business up to the year Four years after the wedding, Jakob Fugger bought for his young wife 40, guilders' worth of jewels from the treasure of Burgundy , among them the jewel known as the Three Brothers , which the Fuggers later sold to Edward VI to become part of the Crown Jewels of England.

However, the jewels were left in a chest in the basement of his house for fear of theft and envy. The couple had no children. Seven weeks after her husband died, Sybille Arzt married a business partner of Jakob and converted to the Protestant faith. Jakob Fugger died on 30 December The inventory performed by his heirs revealed assets totaling 3,, guilders and liabilities amounting to , guilders resulting in a surplus of 2,, guilders.

Because Fugger had no direct descendants, the company and its assets were bequeathed to his nephews Raymund and Anton Fugger , who also led the company. Anton managed to double the family's fortune once more by Jakob was a lifelong Roman Catholic. In he granted the Archbishop of Magdeburg and bishop of Halberstadt , Albert of Brandenburg , a loan of 20, guilders to persuade the Roman Curia to approve his additional election as Archbishop of Mainz , for this choice violated the canonical prohibition to hold more than one bishopric.