1.3 - The Finances of the Crown & Attempts at Reform

Question 1

what were the underlying weaknesses of crown finances?

Answer 1

• inflation (wages weren’t rising with it)
• inability to ‘live of one own’ (parliament wanted to restrict the crowns control over money so they couldn’t become absolute)
• Elizabeth’s failure to reform
• crowns rising expendature

Question 2

what was the impact of the underlying weaknesses?

Answer 2

• difficult to govern efficiently and conduct an aggressive foreign policy
• the crown was eager to be independent from parliament
• during wartime the crown had to find new ways to raise money.

Question 3

what were the financial weaknesses of the crown in 1603-25?

Answer 3

• made peace with Spain through the 1604 treaty of London.
• court spending was double that under Elizabeth e.g. the ante- supper (one in1621 cost £3300
• granted 3 subsides in 1606 but immediately gave £44,000 to friends so MPs were reluctant to help him further
• parliament dissolved in 1611 so he was willing to take advice from everyone however it meant patronage became important.

Question 4

what were James’ expedients?

Answer 4

1610 loan
sale of honours and peerages
1614 cockayne project
sale of monopolies
sale of crown lands
borrowing

Question 5

what were James’ reforms?

Answer 5

1608 cessation of gifts
1608 book of bounty
1608 revision of the book of rates
1610 great contract

Question 6

what was the 1610 loan and what was the impact? (James)

Question 7

what was the sales of honours and peerages and what was the impact? (James)

Question 8

what was the 1614 cockayne project and what was the impact? (James)

Question 9

what was the sale of monopolies and what was the impact? (James)

Question 10

what was the sale of crown lands and what was the impact? (James)

Question 11

what was borrowing and what was the impact? (James)

Question 12

what was the 1608 concession of gifts and what was the impact? (James)

Question 13

what was the 1608 book of bounty and what was the impact? (James)

Question 14

what was the 1608 revision of the book of rates and what was the impact? (James)

Question 15

what was the 1610 great contract and what was the impact? (James)

Question 16

what was Charles’ financial inheritance?

Question 17

what were Charles foreign policy plans?

Question 18

how did Charles plan to raise money in parliament?

Question 19

what was benevolence?

Question 20

what was the 1626 forced loan and what was the impact? (Charles)

Question 21

what was Charles’ financial position by 1629?

Question 22

what was Charles political position by 1629?