Chapter Three | Attempts to Strengthen Crown Finances Flashcards
What was the Great Contract?
Cecil tried to convince Parliament to grant £600,000 subsidy = some feudal rights
How did Cecil use the Book of Rates to strengthen finances?
Impositions = parliamentary subsidy
Why did Cecil’s revision of the Book of Rates create conflict with Parliament?
Questioned right over taxation & Crown’s need for it
How did the Treaty of London strengthen finances?
Concluded 19-year Anglo-Spanish war in 1604
Why did Cecil order the Book of Bounty in 1608?
More money from crown lands by revising leasing policy
What were the figures for Crown debt and expenditure by 1610?
£280,000 & £511,000
Was the sale of knighthoods successful in strengthening Crown finances?
Allowing courtiers to offer at a price devalued title in long-term
Was the creation of a new title successful in strengthening Crown finances?
‘Baronet’ sold for £1095 in 1611 - £90,885 by 1614
What promises did James make?
Stop gifting lands in 1608 & not grant gifts or pensions w/o Cecil’s agreement in 1609
How much did Charles I secure in a limited subsidy in 1625?
£140,000
How did Charles respond to the limited subsidy?
Provocatively collected T&P after 1-yr parliamentary grant expired
What was benevolence?
Demanding money from liable subjects, through prerogative, in times of emergency
Was benevolence successful in strengthening Crown finances in 1626?
Voluntary - few offered money
What was a forced loan?
Form of prerogative income - public manner made refusal open act of opposition
Why did Charles I call a forced loan in 1626?
faced war w/ sp. & fr. w/ no parliamentary finance
