a debt of 420,000 pound, large sums lent to France and Holland expecting it to be repaid, irregular subsidies only when Parliament agreed, decline in value of subsidies and inflation over Elizabeth's reign
2 of 6
Why was it corrupt?
corrupt commissions from neighbours who wanted popularity - undervalued estates and possessions e.g. Duke of Buckingham - income was 400,000 but assessed at 400 per year; some gentry families paid 48 in 1560, but only 14 in 1626
3 of 6
How did James contribute to his financial problems?
uncontrallable extravangance; insecure so lavished gifts on friends; impressive funeral for Elizabeth; antesuppers; eg gave Hay 400 000 in gifts and gave away 80 000 per year compared to Elizabeth's 30,000; royal wardrobe expense quadrupled
4 of 6
How else did he contribute to his problems?
spent 185,000 on jewels in 9 years; expanded personnel of royal household; lavish court entertainment - music, dance, clothes etc
5 of 6
Why did he spend this amount of money?
He was a married man with a family - his wife and eldest son had their own ouseholds; Henry increased his expenditure by 10; elaborate funeral for Henry; his daughter's wedding
6 of 6
Other cards in this set
Card 2
Front
What was the situation he inherited?
Back
a debt of 420,000 pound, large sums lent to France and Holland expecting it to be repaid, irregular subsidies only when Parliament agreed, decline in value of subsidies and inflation over Elizabeth's reign
Card 3
Front
Why was it corrupt?
Back
Card 4
Front
How did James contribute to his financial problems?
Comments
No comments have yet been made