Royal Treasurers Flashcards
How did Cecil and Cranfield ease problems to do with crown land in the short term?
Cecil sold £400,000 of crown lands and reduced debt by £600,000.
Cranfield refused to sell any more crown lands.
Why did the prices of titles go down?
Too many were in the market so they were devalued.
Knighthoods were sold for £30.
How much money did James make from selling titles between 1611-14?
£620,000
Why did nobility not support the selling of titles?
Titles were degraded.
Majority of the money earned was spent on the court.
Increased hostility.
How much money did James make from ‘Baronet’?
Between 1611-14 it made around £91,000 which was used for the War in Ireland.
When was the Earl of Suffolk appointed as treasurer and what faction was he from?
In 1614.
Thomas Howard, from the Howard faction.
Why did Suffolk lose his position as Treasurer?
He got charged with corruption in 1618.
How did royal debt change during Suffolk’s appointment?
Rose from £500,000 to £900,000.
What house did Suffolk build and what did James say about it?
Audley End and it cost £80,000.
James said ‘It was too large for a King, it might do for a Lord Treasurer’.
How did Chancellor Bacon try to save money?
Cut back pensions by giving out patents of monopoly.
How did the Commission try to save money?
Provided an extra £121,700 a year by increasing wardship by 25%.
What methods did the Earl of Middlesex (Lionel Cranfield) use to gain revenue?
Increased farmers rent to £4000.
Reduced household costs by 50%.
Cut the payments of gifts and pensions.
Where did Middlesex cut money from?
Saved around £18,000 by cutting Royal Household.
Cut funding from the Wardrobe from £42,000 to £20,000, and Navy from £34,000 to £14,000.
Why did James cause Middlesex’s efforts fail?
James increased expenditure.
James went back on agreements. 1619 Book of Bounty meant no gifts but James gave Buckingham a house.
What else made Middlesex fail?
Made many strong political enemies who ensured his downfall.
Failed to collect a debt of £1,624,523 from nobles.
