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How did Charles raise Finance?
Charles needed money but he didn't want to call Parliament. Political Classes hit hardest
With the Dutch excluded, England had full control of Iberian Trade. Trade became very prosperous
in the 1630's.
This increased crown revenue by 2/3rds and attributed to custom revenue. Increased trade meant
tonnage and poundage increase (which Charles still didn't have permission to take from
Royal spending cuts
£260,000 spent on the royal household. The King has 24 meat dishes served twice a day.
This was not very successful, the household didn't cut back because they believed it was their right
to have lavish spending, but they did stop the upward curve of spending.
Distraint of Knighthood Prerogative right
Anyone who earned more than £40 per year was supposed to present themselves to court to
become knighted. Due to inflation many people could become knights, so Charles taxed them for
not presenting themselves. Received £170,000 from this tax.
It was successful in raising money but many believed it to be unfair that they were being penalised
for ignoring an obsolete custom.
Forest Law Prerogative right
Forest law was set out by Henry II and it defined the boundaries of the Kings Forest. Now in the
1630's many were living in the Kings forest and could be fined.
It became successful it raising money but again landowners were disgruntled and thought it was
unfair. Salisbury was ordered to pay a fine of £20,000.
Court of wards Prerogative right
Increased wardship fines. Revenue went from 1617 £35,000 to 1638 £83,000
King became unpopular
Monopolies and Grants
Charles found a loophole in the 1624 statute of monopolies. He could grant monopolies to
companies rather than individuals.
Very unpopular. Bitterly resented for every £100,000 raised for the king £750,000 went to the
patent holders. Soap monopolies were particularly unpopular.
Tax on ships that was only supposed to be paid during emergencies and by the coastal counties.
When it was extended to all counties it was seen as unjustifiable and the emergency seemed to be
permanent. Finally stopped in 1640. Example of lack of popularity was the Hampden Case. Most
profitable but very unpopular. Raise £190,000 in a year.