1. Finance Flashcards
What was ship money?
A tax traditionally levied on coastal counties for defence purposes but in 1635 it was extended as a national tax until 1640 and made Charles £200,000 annually, a huge amount compared to a £70,000 subsidy. However it created a lot of opposition and resentment.
What was the Hampden Case?
In 1637, John Hampden challenged the legality of ship money and refused to pay. Charles won the case with 7/12 judges voting in favour of ship money’s legality. However public opinion was concerned and alarmed by the verdict as it showed that Charles could raise tax without parliament’s approval.
What were the Forest Laws?
Charles’s government look into the extent of medieval forest laws to fine landowners who had estates on the medieval forest areas. They couldn’t produce title deeds for the land and therefore had to pay the tax.
What was the distraint of Knighthood?
A long-forgotten law that states that any man who possessed more than £40 a year was required to attend a royal coronation, when one occurred, to receive a knighthood. Failure to do so resulted a fine.
What were monopolies?
Charles sold corporations the sole right to produce, import or sell products. This led to corruption charges at court when the Lord Treasurer procured a monopoly of soap for his friend.
