Economy - Defence

ohn VI assumed the government of a state which had not only been severely crippled by the Serbian and Turkish expansion over the Greek mainland and Asia Minor, but was also economically exhausted. After the civil war, there was no money left in the imperial treasury. Besides, the population of Thrace, the first province of the Empire to have become practically a wasteland as a result of the civil war and the incursions of the Turks, was no longer able to pay its taxes. Moreover, Byzantine trade had been brought to a standstill by the Italian maritime republics, since the many privileges they had been granted had allowed them to dominate the most important commercial centres of the Empire. Furthermore, the Byzantine coinage was losing value from day to day. In an attempt to increase the income of the state, Kantakouzenos reduced the customs duties of the ships entering the harbour of Constantinople, with the aim of luring them away from the port of Galata, which belonged to the Genoese. He also occupied himself with the building of a fleet, to finance which he had recourse mainly to private funds. Naturally, these measures displeased the Genoese and led to the war of 1349, in which the Byzantines were defeated. In spite of the Emperor's efforts, the state was simply not strong enough to recover from the ravages of the civil wars.