James I Flashcards
James and finance - extravagant spending, for
- Where Elizabeth was frugal in giving gifts to friends and supporters, James was magnanimous and generous. By 1610 he was giving away £80,000 a year compared with £30,000 under Elizabeth (he particularly favoured James Hay and Robert Carr)
- His total annual expenditure rose to £500,000 compared to Elizabeth’s £300,000
- Not only was the scale of this spending unpopular, but it was largely directed towards Scots which attracted widespread English resentment
- James expanded the personnel in the royal household
- Gentlemen of the privy chamber increased from 18 in 1603 to 48 in 1624
- 200 extra gentlemen in court
- James Hay was appointed Master of the Robes, overspending his 1614 allocation by 75%
- James was fond of masques and chivalric pageantry - £6,467 was spent on Prince Charles’ debut in the tiltyard in 1621, Masques cost around £3000 for one night
James and finance - extravagant spending, against
- Elizabeth had been very sparing in her gifts in her later years so there was some pent-up demand to satisfy, but James went much too far.
- James had more family to support - his wife and eldest son Henry both had their own households
- Therefore it was inevitable that spending would increase as she was a single monarch whereas James was a man with a family and several households to support
- Prince Henry was similar to his father and over a decade his expenditure rose tenfold.
- When he died from typhoid in 1612 he was given an elaborate funeral, while the next year James had to pay for the wedding of his daughter, Elizabeth. These two events cost him £116,000.
- These were unavoidable costs that were one-offs rather than long term issues, showing that this spending was not very significant
- Some foreign policy spending was out of James’ control
- Charles and Buckingham visited Madrid for 7 months in 1623
- Cost the crown £46,668
- Bohemian crisis of 1623 forced an escalation of spending on foreign and defence services
- Charles and Buckingham visited Madrid for 7 months in 1623
James and finance - extravagant spending, conclusion and Kishlansky quotation
Kishlansky - “the financial acumen of a child in a sweetshop”
Therefore, although one could argue that James had very little choice in terms of his expenditure due to his large family and years worth of austerity from Elizabeth in terms of a lack of giving gifts, ultimately his extravagant spending was a significant factor for his dire financial situation with his love of generosity and extension of the royal household totalling a considerable amount of money. However this extravagance only disguised fundamental issues with the financial system and allowed Parliament to reject his pleas for more money.
James and finance - inherited problems, for
- Upon his ascension in March of 1603, James saw he had been bequeathed a substantial debt of about £420,000, which was considerably more than the Crown income
- Under Elizabeth £800,000 worth of crown lands had been alienated which meant that in the long term there was less money produced from crown estates and so the crown finances were diminishing greatly when James became King
- Coupled with limited amounts of land, the income generated from it was staggeringly low with Crown Rents in 1608 being 60% below an economic rental
- The tax on land was very low, and tended not to affect the richer classes much
- Only 10% of households were required to pay the subsidy
- Only 4s on the pound was paid for landed incomes
- Local assessors undervalued themselves greatly and realistic assessments became difficult due to the difficulty of making continual re-evaluations to offset inflation
- Buckingham assessed at £400 when his income in 1623 was almost £20,000 a year
- In Sussex, the average sum the 78 gentry families paid fell from £48 each in 1560 to £14 in 1626
James and finance - inherited problems, against
- However, the debt was not as serious as it appeared. There was still £300,000 of the grant made by parliament in 1601 to come in and £100,000 of the debt was owed to the landowners who had paid a forced loan in the 1590s and who had long given up any expectation that it would be repaid.
- Once more, Elizabeth had also lent large sums to Henry IV of France and the Dutch and when she was a creditor her expectations were that there would be repayment.
- Rents were easily re-assessed and managed - Robert Cecil tried to improve standards of stewardship and managed to increase rental income by about £100,000 a year
James and finance - inherited problems, conclusion and Russell quotation
Russell - the financial system was “already close to the point of breakdown” when James ascended
Although the royal finances could be improved by schemes like the Great Farm of 1604 (which raised £120,000 p.a by 1607) and selling off titles, these were not as reliable as Crown land rental which had been greatly devalued by the short-term expediency of Elizabeth when she sold them off. This left James with a significant deficit in Royal finances to which a sustainable answer was not easily found, and meant that he had to run a debt from the beginning of his reign.
James and finance - unwillingness of Parliament, for
- Many believed that the King should rely entirely on his own income with the limited number of subsidiaries sanctioned being designed for emergencies such as war - ‘live of his own’
- The agrarian economy had seen unprecedented levels of coin debasement over the last hundred years (agricultural prices rising over 300%), escalating during Elizabeth’s reign, making this impossible
- Income from one-off grants by Parliament had decreased rapidly
- Elizabeth had received £137,000 at the beginning of her reign whilst James only received £72,500
- Inflation over Elizabeth’s reign which meant that James could buy about a ⅕ of what Elizabeth had been able to fund
- Great Contract of 1610 could have solved financial difficulties, with Parliament paying the crown £200,000 per annum and writing off James’ debts of £600,000 in return for an end to wardship and purveyance
- Contract collapse due to its unpopularity among those who voted in MPs and their reluctance to grant such large and regular tax - worried Parliaments might no longer be called
- All those who voted were keen for Parliament not to make any reforms that would increase their tax, so Parliament held back the attempts of James due to entrenched interests
- Parliament could argue that the King should reduce his vast spending
- In 1610, Parliament criticised the Crown for extravagant expenditure on royal household and criticised the collection of customs duties (impositions) on goods. James dissolved Parliament.
James and finance - unwillingness of parliament, against
- Problem of not receiving enough subsidies was partially James’ fault - clashed with Parliament from 1604 about contentious issue of purveyance
- James also rejected contract so partially responsible + his image of a reckless and extravagant king made MPs less willing to give him money, one describing him as a ‘leaky cistern’
James and finance - unwillingness of parliament, conclusion and Houston quotation
S.J.Houston - “pay the crippling costs of kingship from his ordinary revenue”
The unwillingness of Parliament to make fundamental and necessary changes to the system of land taxes in order to give the king a steady revenue is key to why he struggled to deal with his finances. Parliament forced James to remain on an unsteady revenue stream based on a flawed idea of self sufficiency that was not applicable to the economic climate James encountered.
James and finance - ineffective Lord Treasurers, for
- The Great Farm of Customs under the Earl of Dorset (1603-1608)
- In the Great Farm of Customs, the right to collect customs duties was sold to a merchant syndicate in December 1604 on a seven year lease for £112,400 per year which meant that if trade boomed and increased significantly, then farmers would benefit at the expense of the government
- By 1607 they were making so much money they agreed to pay £120,000 in fear of losing the lease
- In the Great Farm of Customs, the right to collect customs duties was sold to a merchant syndicate in December 1604 on a seven year lease for £112,400 per year which meant that if trade boomed and increased significantly, then farmers would benefit at the expense of the government
- Dorset could never raise enough money to balance the accounts, so ran on credit, leaving a debt of £597,000 when he died in 1608
- The Earl of Suffolk began selling peerages in 1615 (from 1615-1628 the number increased from 81-126) , however much of the money generated by selling peerages fell into the hands of courtiers.
- The value of the peerage also depreciated, which in turn annoyed holders of ancient titles who despised the up and coming new noblemen.
- In December 1614 James allowed himself to be persuaded to agree to a project put forward by a rich merchant, Alderman Sir William Cockayne, under the supervision of Suffolk
- The justification for the scheme was that the profit made from cloth exports could be much increased if Cockayne claimed that at least an extra £40,000 a year could flow to the treasury if his syndicate took over the trade
- James was taken in and he cancelled the charter of the Merchant Adventurers, who controlled the cloth trade to Germany and the Netherlands
- Cockayne’s company then turned out to be unable to find the capital to develop the dyeing industry or even sufficient skilled dyers
- In 1616 the Dutch, whose cloth markets had been disrupted, refused to accept any more English cloth.
- The bales piled up in warehouses, weavers became unemployed and there were riots in the West Country wool towns.
- By 1618 Lord Treasurer Suffolk had been charged with corruption and dismissed
- By 1619 the ordinary account was balanced, but the King’s debt was approaching £900,000
James and finance - ineffective Lord Treasurers, against
- The Great Farm meant the government could have a known expected income and an idea of what income to expect from the future of Customs
- The contributions of Robert Cecil, The Earl of Salisbury (1608-1612) were largely positive
- Salisbury dealt with King’s debts by selling of Crown land
- He introduced a survey and raised £445,000 by selling off the least profitable land
- Salisbury increased Customs tariffs and levied impositions on a number of items including raisins
- Salisbury drew up a list of 1400 luxury items on which impositions could be charged in a new Book of Rates published in 1608 and adjusted the Great Farm to do this, which raised an extra £70,000 a year
- By the late 1630’s, impositions were bringing in £218,000 p.a.
- Salisbury dealt with King’s debts by selling of Crown land
- The Earl of Middlesex was even able to balance the books soon after his promotion in 1621 through a ruthless policy of cutting expenditure
James and finance - ineffective Lord Treasurers, conclusion
Although the actions of poor Lord Treasurers such as Suffolk compounded James’ financial issues, they were not the most significant factor in causing them and the Lords could only achieve limited results when the monarch was spending at such a high rate. Furthermore, the effective restructuring of royal finances by Cecil was highly significant in lightening the weight of James’ financial problems.
James and finance - overall conclusion
Kishlansky - ‘James worsened his financial problems, but he did not cause them’
James’ financial extravagance overshadowed the deeper structural issues with royal finance, many of which were inherited from Elizabeth and which Parliament was unwilling to solve
James and foreign policy - aims
- James disliked war of any kind, especially religious, and saw himself as rex pacificus, he wanted to end the war with Europe and improve relations with the Spanish.
- Europe was dominated by the power struggle between Spain and France, England’s role was to be an ally to one or the other, meaning foreign policy was more reactive than proactive.
- James believed that war could be legitimate, but would only fight in a ‘just’ war and preferred diplomacy and negotiating.
- James faced problems with improved relations with Spain as many of his subjects were suspicious of Roman catholics and did not understand the foreign policy as it was part of the royal prerogative, and so instead wanted a war with Spain.
James and foreign policy - rex pacificus (peace for England and others), for
- The Treaty of London was negotiated between Spain and England in 1604 as there was no reason for the war to continue other than the insistence of the Dutch that they would continue to fight Spain.
- English soldiers in the Netherlands were transferred to Dutch regiments and England continued to be a trading partner with the Low Countries and expanded into Mediterranean markets
- There was a trade boom and expenses reduced at the same time
- James acted as an arbiter and mediator abroad
- In 1613 James helped to settle the war between Sweden and Denmark.
- In 1614 James negotiated a settlement of the Julich-Cleves dispute which was very complex.
- 30 year war began in 1618, extremely violent and divisive in Europe
- Largely out of his hands however, and Davies asserts his decision to stay out of it “may have served England well”
James and foreign policy - rex pacificus (peace for England and others), against
- Not even his commitment to act as a check on both sides of the Thirty Years War was lived up to, and under pressure James sent an expedition led by Mansfeld in 1624 to intervene
- Foreign policy thus became inconsistent and in disarray
- Left England in a state where it was preparing to go to war with Spain and both Parliament and his subjects were calling for it (Catholic hysteria)
James and foreign policy - rex pacificus (peace for England and others), conclusion
James considered himself a Rex Pacificus, stating “blessed are the peacemakers”
James excelled as a man of peace - managing to settle a plethora of otherwise serious foreign conflicts, and despite the uncertain legacy he left in terms of peace in Europe, his achievements in key treaties such as the Treaty of London largely outweigh this. James was far more successful in his actions as an arbiter and mediator than his extension of alliances or ‘just’ expeditions.
James and foreign policy - creation of alliances through marriages, for
- In 1612 James married his daughter Elizabeth to Frederick, Elector Palatine of the Rhine, whose excellent Protestant pedigree delighted his Puritan subjects
- James also created an alliance with France through his son Charles’ 1625 marriage to Henrietta Maria of France
James and foreign policy - creation of alliances through marriages, against
- However these successful marriages are overshadowed by the tremendous failure that was the ‘Spanish Match’, an attempt to marry Charles to the Spanish Infanta Maria
- James’ negotiations with the Spanish ambassador, Gondomar, proved ineffective
- Charles and Buckingham’s voyage to Spain in February 1623 to see the Infanta Maria was great failure, as both the Infanta Maria and Philip III strongly opposed the match
- They also demanded ludicrous concessions such as that Charles become a Catholic and laws and discrimination against Catholics be ended, as well as refusing to give any concessions regarding the Palatinate, one of James’ key aims from the match
- Furthermore, this foreign policy exacerbated financial issues, with the 7 month trip costing the crown over £46,000
- Not only did the policy fail, it was also deeply unpopular - staunch Protestants on the council such as Winwood and Neville vehemently opposed it
- Despite the peacemaking potential of Charles’ eventually marriage to Henrietta Maria, it too was deeply opposed across the country due to her insistence on practicing Catholicism upon her entry to England
James and foreign policy - creation of alliances through marriages, conclusion
Although the eventual outcome of the marriages arranged by James were largely positive, the attempted ‘Spanish Match’ was hugely damaging to his Kingship, inflaming both religious and financial issues. As such, his success in negotiating marriage contracts was very limited. The bitter feeling left by the Spanish Match also served to undermine his earlier peacemaking attempts with Spain.
Reasons for conflict between James and Parliament - finance, for
- Upon his accession to the throne in 1603, James inherited a debt amassing to £400,000, and financial issues acted as a rift between James and parliament. Over the course of his reign, Parliament proved unwilling to grant further subsidies or consider a reformed taxation system, due to James’ royal extravagance acting as a mask for underlying tensions.
- Parliament displayed continued concern at the level of James’ spending - driven to some extent by anti-Scottish sentiment
- James was perceived by Parliament as an extortionate spender - he spent over £400,000 on one of his favourites James Hay and would give away around 3 times as much as Elizabeth would
- Led to severe political problems with Parliament - one MP referred to him as a “leaky cistern” - partially caused the failure of the Grand Contract 1610
- Spending on favourites, with Clarendon claiming James Hay received a sum of £400,000. Exaggeration, but one which reflects tensions.
- High tension over finance during the 1604-1610 parliaments: James’ expenditure increased from £64,000/year in 1603 to £114,000/year in 1610.
- In 1610, Parliament criticised the Crown for extravagant expenditure on royal household and criticised the collection of customs duties (impositions) on goods. James dissolved Parliament.
- James was perceived by Parliament as an extortionate spender - he spent over £400,000 on one of his favourites James Hay and would give away around 3 times as much as Elizabeth would
- Financial extravagance translated into an unwillingness to provide subsidies (also influenced by the antiquated belief that the King should “live of his own”)
- Royal extravagance provided grounds for Parliament not to offer James subsidies e.g. spending over £165,000 on jewels.
- In 1614, James requested a parliamentary subsidy for funeral of Prince Henry and marriage of Princess Elizabeth to Frederick. Parliament presented petitions against customs duties (impositions) and complained again about James’ extravagance. Parliament voted no subsidies, resulting in James dissolving Parliament again, resulted in name -Addled Parliament. Parliament was not called again until 1621
Reasons for conflict between James and Parliament - finance, against
- However, Parliament was not always difficult for James to work with, granting him £400,000 of subsidies in 1606