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History Unit 1
James I 1603-1625: Finance
| Question | Answer |
|---|---|
| How much debt did Elizabeth leave for James? | £350,000 |
| Why was the debt Elizabeth left for James not a serious problem? | - £300,000 grant still unused made by parliament in 1601 - £100,000 of this debt was written off by landowners who had given up expectations of repayment - French and Dutch owed the crown money and was expected to by repaid |
| Why can it be argued that the financial problems of the crown were not James' fault? | All of his problems at the start were inherited from Elizabeth, He was a Family man that had to pay for that included their households, This with a inefficient system of collection meant the king received much less than intended. |
| What was the problem with the main parliamentary tax - subsidy? | It was irregular and only collected when agreed by parliament such as emergencies, Also the value of the subsidies had declined significantly |
| Why would neighbours under-value their neighbours commission? | To carry forward a favour and meant that the person would pay less in subsidy, MP's wanted to keep this. |
| What was the Ante-supper? | A lavish meal prepared for the king and then would be thrown out without eating it, cost about £3000 |
| Who invented the Ante-supper? | James Hay, Earl of Carlisle |
| Why did James spend so much on his friends? | he had to buy people's affection, buy his friendships |
| What were Impositions? | Luxury goods tax |
| By 1608, how many luxury items could be taxed on impositions? | over 1000 |
| How popular was the imposition tax? | It was very unpopular |
| Who was the man that was taken to court for refusing to pay the imposition tax? | 1606, John Bates |
| What were recusants fines? | Fines handed out to Catholics who would rather pay than go to a protestant church |
| What was the book of bounty? | A measure by Robert Cecil to curb James and his spending, meant those interested in grants had to first go through Cecil. |
| How successful was Robert Cecil as lord treasure? | very successful as he organised royal spending and generated up to £100,00 per year |
| In 1611, James gave away £67,498 to which friends? | His 11 Scottish friends |
| Did James overestimate the wealth of his new Kingdom? | He very much did |
| What was the system of patronage for the King? | The king was expected to reward loyal followers |
| When was the Great contract made by Robert Cecil? | 1610 |
| What did Cecil suggest doing within the Great contract, what were his aims? | To give James £600,000 which would eradicate his debt and an extra £200,000 to make sure the debt doesn't come back. |
| What did the King give in return in the great contract? | He would end Purveyance, offer concessions over warships and some of his legal privileges? |
| How did Salisbury try to convince parliament to accept the contract? | It was to maintain England's reputation nationally and Internationally, He also justified the expense of Elizabeth's funeral as a national event. |
| Why was Parliament not convinced with the contract? | Their views were conservative and out-dated, They also pointed out how poorly the king spends money and the fact there was no war. |
| Why did the Great contract fail? | Feared independent income would mean the king wouldn't summon parliament again, abolishing purveyance only benefited the South so the north got barely any compensation. |
| Who took over as lord treasure from Robert Cecil in 1614? | Thomas Howard, Earl of Suffolk |
| What did Thomas Howard set up for the Kings wealthier subjects that were seen as old fashioned? | Benevolence |
| What happened to Thomas Howard in 1618 and what was his punishment? | He was charged with corruption and was dismissed as Lord treasure. |
| How much money did Benevolence generate for Thomas Howard? | £65,000 |
| What was Cockayne cloth scheme? | Introduced by Sir William Cockayne, he suggested that more profit could be made by exporting cloth in a finished state. |
| What was the problem with the cockayne cloth scheme? | The promise couldn't be kept and it was too expensive too finish. |
| What was the consequences of the Cockayne cloth scheme? | Weavers became unemployed, There were riots in the west country, Dutch refused to buy cloth from British due to the disruption. |
| What title did Salisbury try to sell to generate money for the king? | Baronet |
| What ended up being the problem with trying to sell the title by 1622? | He sold too many titles, only sold for £220 from £1095 |
| Who took over as lord treasure from Thomas Howard? | Lionel Cranfield |
| Where did Cranfield go after he tried to challenged George Villiers (Duke of Buckingham)? | Tower of London |
| how much money did Cranfield save for James? | £100,000 |
| What did parliament draw up in 1621 which asserted their rights? | A protestation |
| How many members of parliament signed the protestation? | 1/3 out of 470 members |
| How did James handle parliament with the protestaion? | he dissolved parliament in December of 1621 |
| What did James do with the protestation that was seen as controvertial? | he tore it out of the house of commons records |
| Before the parliament of 1621, when was the last time parliament was assembled? | 1614 |
| How much debt did James leave for his son Charles? | £1,000,000 |
| In 1624, Could you have a monopoly as an individual? | No, needed to be part of a company |
| Why did James dismiss parliament in 1610? | The house of commons was about to send his Scottish friends back up to Scotland, James was upset about this and dismissed Parliament |
Created by:
william0709
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