Economic Issues Of James’ Making Flashcards
What are three ways James exacerbated the economy?
- He was extremely extravagant
- He attempted to pass the Great Contract
- He gave money and large gifts to Scottish Nobles
What was the Great Contract?
A proposal to pay James £200,000 a year. However, this was rejected as James believed this wasn’t enough.
Why did James believe £200,000 wasn’t enough?
He believed it wouldn’t be enough to pay off debt as well as fit his extravagant ways.
How can we prove James’ extravagance?
- He spent £20,000 on his coronation
- Spent a lot of money on his daughters wedding and his sons funeral
- Always wearing extravagant clothing
- He would always give out lavish gifts
How did James’ absolutist view bring him trouble with Parliament?
He kept spending money they didn’t have causing them to go further into debt
How did James view the Government?
He viewed them as a nuisance rather than people there to help and guide him.
How did James’ extravagance exacerbate his economic problems?
He continued to be reckless with his money, spending it on lavish masquerade balls and court festivities.
How did the failure of the Great Contract worsen economic issues?
It meant he was spending more money leading to a larger debt.
Why didn’t the Cockayne Project help James’ economic issues?
Cockayne and his group did not know how to finish cloth so when the scheme failed , the Merchant Adventurers were restored back to their previous jobs but had to pay a fine.
This caused the Merchant class to become more hostile towards James.
