J1 and Finance:
Ordinary revenue was the income that J1 received annually. It came from:
Crown lands – most important source of revenue despite E1 previously selling off £800,000.
Convenient form of patronage. This was the quickest/easiest way to £ in emergencies so their
importance .
Customs revenue/T&P – 2nd major source. By 1612, they brought in nearly X3 as much as Crown
lands. 1604, Crown stopped directly collecting customs (taxes on imports/exports) and it was leased
out to a group of merchants in return for annual rent. Basically the ‘customs farmers’ payed J1 for
the right to collect customs revenue, which they were able to keep. The + of this was:
J1 got a regular income + additional source of patronage. The group became v close
w/Crown who would probably be willing to make loans in emergencies.
Good for farmer because J1 never demanded a price for the customs that reflected their
true worth. J1 valued merchants’ support over getting maximum income.
BUT P saw its control of taxation being undermined
Bate’s Case 1606 – Happened in the Court of Exchequer (deals w/cases affecting the revenues of
the Crown). It’s often referred to as the ‘case of impositions’ (case of tax’s).
J1 imposed a duty (tax) on currants that were being imported.
John Bate (merchant) refused to pay. He argued that the duty had not been sanctioned by P.
Bates lost the case because J1 has the right to regulate trade for the security of the realm.
This case opened the way to hugely the range/extent of customs (the duties levied by a gov
on imported goods).
1608 – new duties AKA impositions (duties on specific goods) were levied on 1400 items,
w/no real proof that it was in the interest of the trade. These impositions brought in an extra
£70,000 a year to the Exchequer. By the end of the 1630’s, the Crown was dependant on ½
of its income on customs.
Wardship – if a landowner died and kids were too young to inherit the land (or a woman), J1 had the
right to take it and make profit till the kids grew up. 1610, brought in £65,000.
Purveyance – the right of the court to buy things at fixed prices well below the market rates. This
system was abused by corrupt officials.
Lord Hay – banquet, spent £2200. J1 paid for this
Robert Cecil (Earl of Salisbury) – tried to restrain J1 by ‘Book of Bounty’ (1608). This prohibited J1 giving away
major items (lands, customs), but it was a FAILURE. J1 gave cash instead and no one could afford to oppose
him for long if they valued their position.
He was also taking advantage of the revenue system as he got £1400 from a wardship that earnt J1 £370. He
stole from the Crown yet negotiated the Great contract to strengthen royal finances. This shows how many
people didn’t want the system to be reformed.
OTHER PROBLEMS: Despite making peace w/Spain, military costs still . In Ireland between 1603-8, £600,000
was spent on the army. English garrisons had to be upheld in the Netherlands (England’s biggest trading
partner) which also cost. The system which J1 got revenue was v corrupt.
Corrupt taxation – the poorest were excluded from this. Those who were liable had to declare their worth
and then be taxed. This was v abused as many stated less than what they were worth so they would pay less.
EG: Cranfield (worth £90,000 but taxed £150) and B (2nd richest in England but taxed £400).
Subsidy rolls – records of taxation that determined how much each area should pay. More people died than
those who moved into an area so this made subsidy rolls shrink. Major landowners didn’t want to pay more
than they had to just to make up for others. EG: SUFFOLK, 1557 = 66 people assessed (land/goods) worth
£521 BUT 1628 = 37 people assessed on £77.
1624 Subsidy Act – Commons generously (their opinion) gave J1 £300,000 which was inadequate (LOOK AT
J1/P FOR MORE INFO)
Ordinary revenue was the income that J1 received annually. It came from:
Crown lands – most important source of revenue despite E1 previously selling off £800,000.
Convenient form of patronage. This was the quickest/easiest way to £ in emergencies so their
importance .
Customs revenue/T&P – 2nd major source. By 1612, they brought in nearly X3 as much as Crown
lands. 1604, Crown stopped directly collecting customs (taxes on imports/exports) and it was leased
out to a group of merchants in return for annual rent. Basically the ‘customs farmers’ payed J1 for
the right to collect customs revenue, which they were able to keep. The + of this was:
J1 got a regular income + additional source of patronage. The group became v close
w/Crown who would probably be willing to make loans in emergencies.
Good for farmer because J1 never demanded a price for the customs that reflected their
true worth. J1 valued merchants’ support over getting maximum income.
BUT P saw its control of taxation being undermined
Bate’s Case 1606 – Happened in the Court of Exchequer (deals w/cases affecting the revenues of
the Crown). It’s often referred to as the ‘case of impositions’ (case of tax’s).
J1 imposed a duty (tax) on currants that were being imported.
John Bate (merchant) refused to pay. He argued that the duty had not been sanctioned by P.
Bates lost the case because J1 has the right to regulate trade for the security of the realm.
This case opened the way to hugely the range/extent of customs (the duties levied by a gov
on imported goods).
1608 – new duties AKA impositions (duties on specific goods) were levied on 1400 items,
w/no real proof that it was in the interest of the trade. These impositions brought in an extra
£70,000 a year to the Exchequer. By the end of the 1630’s, the Crown was dependant on ½
of its income on customs.
Wardship – if a landowner died and kids were too young to inherit the land (or a woman), J1 had the
right to take it and make profit till the kids grew up. 1610, brought in £65,000.
Purveyance – the right of the court to buy things at fixed prices well below the market rates. This
system was abused by corrupt officials.
Lord Hay – banquet, spent £2200. J1 paid for this
Robert Cecil (Earl of Salisbury) – tried to restrain J1 by ‘Book of Bounty’ (1608). This prohibited J1 giving away
major items (lands, customs), but it was a FAILURE. J1 gave cash instead and no one could afford to oppose
him for long if they valued their position.
He was also taking advantage of the revenue system as he got £1400 from a wardship that earnt J1 £370. He
stole from the Crown yet negotiated the Great contract to strengthen royal finances. This shows how many
people didn’t want the system to be reformed.
OTHER PROBLEMS: Despite making peace w/Spain, military costs still . In Ireland between 1603-8, £600,000
was spent on the army. English garrisons had to be upheld in the Netherlands (England’s biggest trading
partner) which also cost. The system which J1 got revenue was v corrupt.
Corrupt taxation – the poorest were excluded from this. Those who were liable had to declare their worth
and then be taxed. This was v abused as many stated less than what they were worth so they would pay less.
EG: Cranfield (worth £90,000 but taxed £150) and B (2nd richest in England but taxed £400).
Subsidy rolls – records of taxation that determined how much each area should pay. More people died than
those who moved into an area so this made subsidy rolls shrink. Major landowners didn’t want to pay more
than they had to just to make up for others. EG: SUFFOLK, 1557 = 66 people assessed (land/goods) worth
£521 BUT 1628 = 37 people assessed on £77.
1624 Subsidy Act – Commons generously (their opinion) gave J1 £300,000 which was inadequate (LOOK AT
J1/P FOR MORE INFO)
