Charles I and his Finances

MICHAEL YOUNG: Russel portrayed Crown and Parliament in 1976 as two declining institutions, being overtaken by the breakdown of administration, as there was increasing gap between cost of government and royal revenue, alongside tension between central government and the localities. 

Charles first issued benevolence, which had been illegal since the fourteenth century, and facing resistance issued a forced loan which yielded several subsidies. 

He then used antiquarian research. This consisted of getting those who earned over £40 a year to be knighted at his coronation in 1626. Those who didn't attend would be fined on a graded scale, and this yielded two subsidies, when in 1628 Parliament had voted five. Next ancient laws on forest boundaries were reinforced to irritation of gentry, as they would be fined for encroaching on historic limits. Little money was obtained by commissioners for…