chapter 3 financial reform

Question 1

who was appointed to manage crown finances under james in 1608?

Answer 1

robert cecil

Question 2

what was the book of bounty?

Answer 2

survey of crown lands

Question 3

what other short term measures did cecil implement?

Answer 3

defecit borrowing and sale of crown lands

Question 4

what was the book of rates?

Answer 4

levied impositions on 1400 items which was worth up to £70,000 annually

Question 5

what was the great contract of 1610?

Answer 5

negotiated by cecil - james received £200,000 annually in return for gicing up some feudal rights e.g. wardship

Question 6

what was wardship?

Answer 6

where the crown could take over land inherited by an heir under 21

Question 7

when did the great contract collapse and what did james do?

Answer 7

1611 - dissolved parliament

Question 8

why could james no longer sell knighthoods?

Answer 8

had become devalued

Question 9

who took over crown finances and in what year?

Answer 9

lionel cranfield in 1618

Question 10

what did cranfield do?

Answer 10

carried out audit of expenses

Question 11

how did charles raise money?

Answer 11

tonnage and poundage + prerogative

Question 12

what was the forced loan of 1626?

Answer 12

charles needed money for foreign policy and so forced parliament to pay - MPs got peer pressured into paying - was a test of political loyalty, 76 imprisoned for not paying loan (only 70% of expected amount payed)

Question 13

what was the impact of the forced loan

Answer 13

5 knights case and it put a strain on relations between crown and parliament