financial weakness
- Created by: miaalvarezxo
- Created on: 16-05-19 10:31
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- Financial weakness
- James I
- Inflation and antiquated financial system.
- Elizabeth's failure to reform crown finances, and sold of crown lands.
- Book of Bounty attempt to reform rent on crown lands.
- Undertaxed, the Political Nation are the ones enforcing it. Peerage were the most undertaxed.
- Ordinary expenses increased fivefold. Household expenses went up, but necessary.
- Monopolies were a problem under James.
- Statute of monopolies limited his ability to grant monopolies.
- The Cockayne Project. This failed and impacted trade in cotton with the Dutch.
- Tensions were factional infighting, not opposition to monopolies themselves.
- Buckingham controlled patronage and gave monopolies to his relatives.
- The Great Contract 1610. Cecil, but each side had too much too lose.
- 1606 Crown had an absolute prerogative right to impositions, raised £70,000.
- Charles I
- Needed more money because he wanted to enter the Thirty Years War.
- Count Mansfield. Cadiz.
- Only granted tonnage and poundage for one year. Collected this anyway. Cycle of distrust.
- Petition of Right and Three Resolutions 1628-29.
- 1626 Benevolence, relied on the goodwill of the Political Nation, but didn't raise much money.
- 1626 Forced Loan. 70% raised.
- Problems during Personal Rule
- Ship money, 1634. Extended to inland towns and annually.
- Hampden court case. 7 for 5 against.
- coiled-spring effect- political backlash.
- fiscal feudalism: forest fines, distraint of knighthoods, wardship.
- increased fear of absolutism
- Ship money, 1634. Extended to inland towns and annually.
- Needed more money because he wanted to enter the Thirty Years War.
- Cromwell
- Charles II
- James II
- William and Mary
- James I
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