James' key financial problems Flashcards
1
Q
How much debt did James inherit?
A
He came into debt from Elizabeth I - £350,000
2
Q
Parliaments control over taxation.
A
Tax wasn’t collected often only when something was needed.
3
Q
The expectation that James would “live of his own”.
A
- James was expected to live of his own money as was seen as wealthy.
- So he kept going to parliament but wouldn’t give him money until he did what they wanted.
4
Q
Inefficant assessors.
A
- James Hay was in charge of the royal wardrobe where expenditures quadrupled.
- The only way to stop him was to buy him out which cost £20,000.
5
Q
James’ uncontrollable extravegances.
A
He spent £185,000 on jewels over 9 years.
6
Q
James’ expensive family.
A
- He spent £7000 to kit his son Charles for his debut in the tilyard.
- He spent £116,000 across his sons Henry funeral and his daughter Elizabeths wedding.
