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Finance (Other ways of gaining finance (Sold titles including newly…
Finance
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Why he lacked finance
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He had a wife and family, his wife Anne of Denmark had own household as did son Henry
James spent lots of money on funerals for Elizabeth and son Henry as well as weddings for his daughter Elizabeth and for Buckingham
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Inherited debt of £400,000 from Elizabeth
The Great Contract 1610
Salisbury suggested parliament should pay off royal debts and agree to give £200,000 a year to crown
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Difficult to encourage parliament- believed extravagance problem, saw no foreign threat, thought they wouldn't be called anymore and lack of trust that James would give up privileges
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The Book of Bounty 1608
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Designed to lower expectations of courtiers but partially did not succeed as James gave them cash instead
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Not entirely successful as Salisbury could not afford to oppose Kings wishes and retain his favour and position
Bates Case 1606
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Salisbury pursued Bate in court of Exchequer and Judge Flemming found that the crowns prerogatives allowed it to impose impositions on selected goods
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The Book of Rates 1608
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In single year £70,000 raised
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Sale of crown lands
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Raised £430,000 between 1608-1612
£14,500 lost each year in rent
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Cockayne Project
Persuaded James to end export of unfinished cloth to the Netherlands, so that it could be finished in England
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