financial measures during personal rule 2 Flashcards
march 1629 c.1 had pressing financial issues to address
2m debt, he was involved in costly wars(spain/france), his ordinary expenditure rising-his actions with city of London were strained which limited chance of further loans, no safety net from parleimnt.
c.1 lord treasure was Richard western
influential fig(sus cath), as to be impeached by palreiment , advocate to get put of wars with spain/france and was fundamental in its withdraw, key architect in financial policies, sold monopolies/patents to cath friends eg popis soap
William noy
‘kings mines’
became attorney general during pr and was instructed to search back through forgotten laws/medeval customs that could help c.1 raise money ‘kings mines’
war with france and spain came to an end- not cheap
treaty of Susa(france, treaty of Madrid(spain), court was the biggest item of c.1 ordinary expedenture of an income of 600k py 1629. 1/3 was spent on court alone. western found it difficult to make economies at cost decrease the royal spending w/o upsetting the king
maximise the revenue from ordinary income
TP
t+p 1629 reassert this right to t+p which he continued to collect . 1631-5 270k py, after 1635-425k py
find new sources of income through ‘ordinary’
most of these were outdated feudal incomes-source of finance referd tools ‘fiscal feudalism’-distraint of knight hood, enclosure fines 50k p.a, forest fines 27k
impact of financial measures on political nation
landowners, puritans, mps, merchants, jp’s.
many of political nations were victims of or opposed fiscal feudalism
ship money
arguable the most contentious of c.1 financial measure in the personal rule , lacked opp but doesnt mean people were unhappy-privy council dealt with those reluctant . introduced 1634>extended 1635
ship money resulted in
numerous disgruntled gentry but initiated the most famous trial-the Hampden case 1637- John Hampden former mp brought to trial for refusing to pay.
success?
by late 1630, c.1 had income of nearly 1m py, by 1637, his income in real terms was double j.1 in 1603 and 50% higher than his income in 1625.
royal debt was down from 2m 1629 to 1.6m 1635
before the Hampden case, their seemed to be little opp to c.1 financial measures
failings
most of the ordinary measures used by c.1 in the landed class eg those who c.1 relied on to govern the provinces.
many of c.1 measures were a one off than regular source of income eg distraint of knighthood
distraint of knighthood
knighted at coronation, if not tuned up fines £40 1626>170k
however loyalty to the crown were strained as it seemed unfair
Oliver cromwell- victim
