James Flashcards
Inherited
- £420,000
- war with Spain
- an inefficient tax system due to lack of updating tax assessments in line with inflation
- lack of crown lands
Crown lands
- rented crown lands had not changed Witt the rate of inflation
Prices had risen by 500% over 16th century but rent had not
Members of political nation under assessing income
- Buckingham claimed he earned £400 but by 1623 his income was £15,000
Population increase
From 1500 to 1603 population increased from 2.5 million to 4 million - England poorer less taxes he could levy
Henry given
25,000 annually
“Poor man … now arrived at the promise land”
Extravagant
Extravagant
1603-7 spent 185,000 on jewels
By 1610 expenditure doubled
1606 gave 44,000 to 3 Scottish friends
Monopolies
1603 revived them
Treaty of London
1604 ended war with Spain
Bates case
1606- John Bates challenges James right to impose new custom duties on currants
Book of rates
1608- introduced impositions on 1400 new items given projected income of 60,000-70,000
Great contract
1610
Cecil - parliament would grant one off 600,000 payment to clear James debts then 200,000 annually in return give up feudal rights of purveyance and wardships
Addled Parliament
1614
James requests subsidy but parliament refuse unless he banned monopolies
Complains about extravagance at court
Factional rivalries
The cockayne project
1615
Granting monopolies to individuals became increasingly detrimental
The failed cockayne project depressed cloth industry for years to come
Mary killed
284 Protestants in public during her reign
