1640-60 Econ/finance Flashcards
1
Q
line of arg- interregnum focus
A
- financial issues often meant an increase in tax for the political nation, which ultimately created more resentment and led to the local govt not complying with rules/laws which contributed to political failure.
2
Q
line of arg- long parl/end of Charles I focus
A
- financial weakness of Charles I allowed Parl to undermine him, as financial strength could lead to absolutism. Was often the centre of tension.
3
Q
-VE: 1640s
A
- Lack of funding for Bishops Wars caused Short and Long Parliament - April 1640 and Nov 1640
–> Short parl- lasted 3 weeks, achieved nothing (no subsidies) as Charles just wanted money and the MPs wanted to address their grievances.
–> Long parl- clashed over issues of subsidies and Charles was forced to sign a series of acts after Strafford’s death eg. The 10 Propositions (June) - Parl used finances to undermine and control Charles: Parl passed new legislation: Triennial Act and Act Against Forcible Dissolution May 1641. They used financial pressure to get Charles to sign these bills into law. Also, parl kept making concessions and exploited Charles who was now vulnerable after Strafford’s death= lead parl to take away most of his rights (Ship Money, abolition of Star Chamber +High Commission…) so that the king was dependent on Parl for financing
4
Q
-VE 1650s
A
- Rump: deficit of £700,000 by 1650- had to increase monthly assessments from £90,000-120,000 by dec’52 (upset PN)
- Major-Generals: 1655-57: had to enforce a Decimation tax (10% royalists income) to fund this= tax increased (by mid 1650s, avg annual tax peaked at £1.75 mill - 1 mill more than in PR - angered PN)
→ increased hostility from royalists= unpopularity - shown in defeat of Militia bill (124-88) and led to failure of FPP - 3PP: deep resentment from Army who wanted their arrears paid: total was now £900,000 but the protectorate had a total debt of £2.5 million SO RC had to call parl (3PP) (jan-april ‘59)
