Personal Rule: Finance Flashcards
(29 cards)
How much was Charles in debt by 1629?
£2 million
What type of prerogative forms of income did Charles have to rely on?
Monopolies
Impositions
Wardships
Purveyance
Sale of titles
Tonnage and poundage
What did the revenue increase to from custom duties by 1639?
£425,000
How much did recusancy fines rise from the late 1620s to 1634?
Imposing fines upon Catholics increased from around £5,300 pa in the late 1620s to £26,900 in 1634. (recusancy fines)
How much did income from wardships increase per year during the Personal Rule?
Income from wardships increased by about a third to £75,000 a year.
How much did Charles raise from custom duties between 1631-1635?
He raised roughly £270,000 a year from customs duties 1631-35.
What had been refused from Charles in 1625, which he continued to collect?
Tonnage and Poundage
- In 1625, Parliament only granted it to him for a year.
How did Charles exploit monopolies during the Personal Rule?
Charles exploited a loophole in the 1624 Monopolies Act - an Act which was supposed to have curtailed the granting of monopolies(!) – in order to obtain income. (Charles’ usual way of bypassing this Act was to use the Star Chamber, which Archbishop Laud sat on, to legitimise the granting of monopolies).
What was introduced in 1635 in terms of finance?
new Book of Rates
What did Charles establish in terms of knighthoods, and how much had this raised by 1635?
Charles also established ‘distraint of knighthood’; levied fines on anyone holding land on more than £40 p.a. who did not receive a knighthood at his coronation
> By 1635, had raised nearly £175,000; caused great resentment
Who was William Noy?
Attorney General
What was Charles accused of through his fiscal feudalism?
Charles was accused of introducing new taxes without parliament’s consent, to make the Crown financially independent.
What was fiscal feudalism?
A combination of legal and military customs in medieval Europe
What was William Noy tasked with?
Tasked with finding ‘fiscal feudalism’ to exploit for income; Charles revived financial measures.
> ‘King’s mines’; money that had rightfully belonged to the Crown in the past.
What did Charles reassert surrounding the forests, and how much did this raise?
Charles reasserted ancient royal rights over forests that were owned by the Crown, reserved for the monarch for hunting. (fines only raised around £40,000)
What did Charles introduce in terms of enclosures, and how many enclosing landlords did he fine between 1636 and 1638?
Introduced enclosure fines (fined 600 enclosing landlords between 1636 and 1638)
What were William Juxon’s methods to cut spending?
Pensions were cut at Court
Commissions set up to investigate spending
Sale of Crown lands were stopped (Charles had already sold £600,000 worth)`
Who was William Juxon?
Lord Treasurer from 1635
By the mid-1630s, what had accumulated Crown debt decreased to, and what happened for the first time in a century?
By the mid-1630s, accumulated Crown debt had decreased to £1 million (halved)
Income exceeded expenditure for the first time in the century
What was ship money?
Ship money was a prerogative tax of medieval origin levied intermittently, assessed only on inhabitants of coastal areas, and used to fund the navy in times of emergency.
What did Charles decide to use ship money for?
Charles decided he would levy the tax in order to fund an ambitious programme of ship-building.
When was the levying of ship money announced?
1634
What happened in 1635 in terms of ship money, and between what years were new ship money writs issued?
Demand for ship money was extended to inland areas in 1635
- New ship money writs issued between 1636 and 1639.
Between 1634 and 1638, what percentage of ship money demanded was paid?
Between 1634 and 1638, 90% of the ship money demanded was paid.
