James And early Charles Finance Flashcards
1
Q
What was the consequence of Inflation and lack of reform
A
- Difficult to conduct an aggressive foreign policy
2. Prerogative finance required (upset PN)
2
Q
What and when was Cockayne project
A
Monopoly on finished cloth, caused slump in trade
3
Q
By 1620 what was the royal debt
A
£900,000
4
Q
Subsidy act
A
£300,000 for warfare. Supervised by parliament
5
Q
Statute of monopolies
A
Limited crowns right to grant monopolies
6
Q
Bates case
A
1606 - Gave absolute prerogative to levy impositions - Led to book of rates
7
Q
Book of rates
A
1608 - Levied impositions on 1400 items - Justified by Bates case
8
Q
How did James inhibit Cecil
A
- Made promises to stop gifting land or pensions but broke this
- Failure of book of bounty
9
Q
What did Cecil propose In The great contract
A
£200,000/ year in return for feudal rights such as ward ship
10
Q
Why did great contract fail
A
- Wanted impositions delt with
- James agreed no further levying if compensated
- Neither felt they were getting a good deal
- James dissolved parliament (1611)
11
Q
What 2 finical measures happened 1611-25
A
- Sales of titles
2. Cranfeild
