Chapter 3 Flashcards
What is an Ante-supper?
Preparation of two huge feasts, the first was displayed to courtiers and then thrown away before the second was eaten.
What happened after parliament granted James three subsidies?
He gave £44,000 away to three of his Scottish friends.
when was the treaty of London and what advantages did it have?
1604, it reduced crown expenditure
What was crown debt by 1608?
£600,000 because of James lavish spending.
Who was Robert Cecil?
Formerly James principal secretary, who was appointed to Lord Treasurer to manage crown finances.
What promises did James make to Cecil?
In November 1608 James promised to stop gifting land, in 1609 he promised not to grant any gift or pension without Cecil agreement.
Did James keep his promises to Robert Cecil?
No.
How did Cecil attempt to strengthen Crown Finances?
Book of Bounty, Book of Rates and The Great Contract.
What was the Book of Bounty?
In 1608 Robert Cecil aimed to make money from crown lands by revising the leasing policy.
How did James hamper Cecil efforts?
By continuing to grant land to favoured courtiers.
What was the Book of Rates?
A book that listed the official valuation of items which custom duties should be paid.
What was a problem of the Book of Rates?
Because the booked listed fixed valuations, it could not keep up with inflation.
What was the Great Contract?
In 1610 Cecil began negation with parliament, he told them crown debt was £280,000 and annual expenditure was £511,000. In hopes of shocking into granting subsidies of £600,000.
Was the official offer of the Great Contract accepted or rejected?
Rejected.
How did Cecil manage to get parliament approval to grant James an annual subsidy of £200,000?
The negotiated to exchange the subsidy for James living up a range of Feudal right, including his prerogative income from Wardship.
When did negotiations for the Great contact collapse, and why?
In November 1610, Crown and Parliament distrusted each other.
How much did James receive from the city of London?
£100,000 in 1610.
When was parliament dissolved?
1611.
How did James attempt to increase crown income?
He allowed some of his courtiers to buy knighthood.
When and why was the title of Baronet introduce?
In 1611, the title of knight was devalued.
How much Baronet sold for?
It was sold to anyone who could pay £1095, establishing 200 baronet which brought revenue of £90,885.
What happened to title of Baronet and how much money could it later be bought for?
In 1622 it could be bought for £220.
How much did James allow Earldom to be bought?
Sold for £10,000, in 1615 there were 27 earls and in 1628 there were 65.
When and what was Cockayne project?
1614, A plan to organise the cloth trade and a commission to prevent further building in London. It was a failure.
What effect Cockayne project have?
Because of the monopoly on production and sale of finished cloth business man William Cockayne, the Dutch refused to purchase cloth from England.
Why did Parliament grant James only two subsidies in 1621 (£140,000)?
They feared James would dissolve parliament (without addressing their grievances) if they gave him sufficient subsidies like he had done in 1611.
What was the 1624 subsidy act?
This act granted subsidy of £300,000 warfare, in order to have this subsidy the crown had to agree that it would only be used for specific areas of foreign policy.
What was the 1624 Statute of Monopolies?
The act that limited the crown’s rights to grant monopolies to individuals.
When did James I die?
March 1625
Why did the commons only grant Charles two subsidies?
They distrusted him and he didn’t explain his position or ask for a specific amount.
What is tonnage and poundage?
Taxed money paid to the crown as yearly prerogative
How did Charles view the granting of t&p for only a yer?
As a direct attack on his prerogative.
What did Charles do after securing the subsidy?
He continued to collect tonnage and poundage after the first year.
What was the forced loan of 1626?
without parliamentary finance, Charles introduced forced loan. There was opposition and 76 people were imprisoned for refusal to pay.
