1625: Inherited financial problems led to confrontation with P. CI asked for a £60,000 loan from the City of London merchants. Commons refused to grant the excise tax of T&P for life. This was customary for a new monarch to be granted this tax. MPs offered to grant it for only 1 year, leading to the dissolving of P.
1626: CI was desperate for money due to his foreign policy, he called a new P and faced similar problems. P refused to engage in finance debates and instead attacked Buckingham (they were suspicious of him due to his failures abroad) CI dissolved P and issued a forced loan; those who refused to pay were threated with life imprisonment or conscription.
1627: Over £200,000 raised from the forced loan. Despite the loan raising moremoney than P had granted before roughly 1/3 of what was expected was not paid. Number of gentry refused and were imprisoned, 5 were issued writs of habeas corpus. The gentry involved in the 'Five Knights Case' were told by the court that they had been detained by special command of the King; effecitvely approved royal tryanny.
1628: In futher need of funds CI attempted to pass a Bill that would provide five subsidies. After delaying tactivs from the Commons, it was passed when CI promised to give his assent to the Petition of Right.
Comments
No comments have yet been made