Finance and other issues

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Finance and other Issues
Financial Position in 1667
Many people in parliament though Charles was trying to achieve absolutism but if he
was, there should have been some evidence for him trying to find a financial solution.
Instead Charles had acquired a great amount of debt by the end of his reign.
Financial Options
Charles could have cut his spending (but this still wouldn't have been enough for
him to rule without parliament
Charles could have relied on parliament to finance his policies (but this would
have meant he would have to listen and be influenced by parliaments ideas)
Charles could try and rule without parliament, but he would have to find new
sources of income and improve the current system of revenue.
1665 Became a MP
1668 Treasurer of the Navy
1672 Privy council member
1673 Lord Treasurer
1674 Earl of Danby
1675 Chief minister
Royal income
In 1665 the royal income was £820,000 but by 166767 it was £647,000. MP's
perspective was that the problems in the drop of income were due to the crown's
mismanagement rather than structural problems with the financial system.
Corruption was rife at court and in 1667 parliament appointed commissioners to
examine the public accounts when it gave a parliamentary grant of £1.8 million.
Parliament used finance to try and restrict the religious freedom Charles wanted to
Expiry of the conventicle act 1668
Parliament was unhappy that Charles had let the Conventicle act expire so refused to
grant him £300,000 which forced Charles to issue a much more ridged conventicle act in

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Replacement of customs farmers with paid commissioners to collect customs
revenue 1671
The system of customs farmers was abolished in 1671 and put the collection into the
hands of paid commissioners, with immediate beneficial effects for the crowns finances.…read more

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Royal income
From 167477 royal income was at an average of £1.4 mil (not too bad Charlie!). But
Charles spending meant that debt increased by £750,000 from 167479. This was a
MAJOR ISSUE between crown and parliament. Let me paint you a word picture...…read more


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