Week 1 Flashcards
By 1700, who wants to extend their power north-east into Germany, Northern Italy, and the Low Countries?
France
True or False: By 1700, one had to have a certain amount of property value in order to vote in parliament
TRUE
True or False: Britain has a written constitution in 1700.
FALSE
What are the 2 types of laws in Britain?
- Statute
- Legal Judgments (common law)
Which monarch tries to bring Catholicism back to England?
James II
What were James’ two daughters?
Mary and Anne
What development made James’ rule unacceptable to Protestants?
- The birth of James’ son, who he would raise Catholic as the next heir to the throne
__________ comes to overthrow James II in 1688
William of Orange
Why is the Glorious Revolution important?
- It permanently prevents Catholic rule in England
- Made war with France inevitable
- Led to the increasing of parliamentary power
What was the 1689 Act of Toleration?
- This act took away some of the penalties on Dissenters in England
- But, NO toleration for Catholics
What was the Bill of Rights?
- “Not so much a bill of rights, as a limitation on the king”
- Says that no Catholic can become monarch
- Abolishes Royal prerogative
- Parliament can override a Royal Pardon
- Parliament had to be called regularly
- NO non-parliamentary taxation
- Succession goes to William/Mary, Anne
At which battle is James II finally defeated by William of Orange?
Battle of the Boyne, 1690
What was the Treaty of Limerick, 1690 ?
- Jacobite are granted safe passage to France, and those who chose to remain are given security in keeping their land and jobs
What were the 1695 Penal Laws?
- Irish protestant parliament
- Irish Catholics CAN NOT:
→ Own a weapon
→ Get educated on the continent
→ Vote
→ Teach or run in schools
→ Have their own Catholic Clergy
Why were there so many Jacobites in Scotland?
- Traditionally the Stewart family had been from Scotland
- Also, the Highlands had many Catholics
What was the Glencoe Massacre, 1692 ?
-The Jacobite chiefs (namely the Macdonalds) swore the demanded oath to William and Mary defiantly a day late (after Jan. 1st)
- So, William gets the rival Campbell clan to massacre the Macdonalds at Glencoe
What is the chief problem with foreign born kings in England?
–> They act in greater interest for their home nations
(ex. When William comes to the throne, he is obsessed with fighting France)
Why did Louis XIV support James II?
- Because he viewed James as God-ordained
- Further, he needed to break the Anglo-Dutch alliance
What is often referred to as the “English War of Succession?
The Nine Years’ War (1688-97)
What was the English goal in the Nine Years’ War?
- English seek to preserve the Dutch Republic against French ambitions
How much money each year did the Nine Years’ War cost?
5.5 million pds
Where did the majority of tax revenue come from before the financial revolution?
- Majority of Tax revenue came from the land tax
What were the problems with land taxes? (2)
- It never ended up raising enough (Many tax collectors, who were JPs, would often undervalue the land of their friends, and tax them less as a result)
- It didn’t raise money quick enough
What was the Funded National Debt, and when was it founded?
- 1693
- People can now loan money to the government, and in return, the government will pay you interest (14% for the rest of their lives)
- So many people invest, that the Government has to reduce the interest rate to 3%
Why did so many people invest in the Funded National Debt?
- It seemed safe, since the government promised to pay them through a specific pot of revenue
Why and when was the Bank of England created?
- Created to loan money to the government
- Sold stocks in self, made loans, printed paper money, and managed the National Debt
- Became the Crown’s largest single tender
What was the significance of the Financial Revolution?
- It brought in money very quickly
- It brought in far more money in general
- Creation of the Financiers (Money Men)
- Ensures military domination
- Growth in the size of central government
Who were the Financiers (Money Men)?
- Those who make money through credit and investment
By 1700, what portion of government members were implicated in finance?
1/3rd
