In 1238 Jaime I incorporated it into the Aragonese Crown. During the 15th. century Valencia became the most important town of the Aragonese Crown, a position which it would maintain until the 17th century. The prosperity of its agricultural areas and its silk industry, its development as a centre of finances and its increase in culture, made this Valencia's golden century, charachterised by its great artistic splendour,with authors such as Juanot Martorell (author of "Tirant lo Blanch", the first modern novel of Europe), Ausiach March, Roig de Corella, Isabel de Villena,...
The collapse of Germanias deteriorated its position, but the decisive blow to its economy was the expulsion of the moors in 1609. In the succeeding war Valencia supported the Archduke Carlos, for which Felipe V abolished the privileges of Valencia in 1707. During the 18th. century Valencia participated in the economical and cultural renaissance of the country.
During the Civil War (1936-39) Valencia was, for a short while, the capital of the Republic Goverment. Later it suffered great losses in the floods of the year 1957.With the re-establishment of the Monarchy, the Valencian Community obtains Home Rules. Over the centuries, the numerous historical events have each left their mark on the city and enriched its patrimony to the point of converting it, at present, into one of the main Spanish cities, cultural as well as economical, and converting it into the Capital of the Valencian community.
