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Originally
a sailors settlement on the bank of the river Nervíon, Bilbao grew
larger and more prosperous as the inhabitants of the settlement began
to export the iron ore, which was abundant in the surrounding
territory. By 1300, Bilbao, now a prosperous community of mariners and
ironworkers, had received its first charter as an independent
municipality that gave the town the right to self-governance.
With
the coming of the Renaissance, Bilbao made further progress, and in
1511, the town acquired the right to set up its own commercial
tribunal. The economic development and prosperity continued well into
the 18th century, but suffered severe setbacks during the
1800s, mainly during the Peninsular War when Bilbao was sacked, and
the Carlist Wars. By the closing years of the 19th century,
the citys economy had started picking up again, a trend that has
continued, more or less uninterrupted, throughout the 20th
century.
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