Chapter

James and the Problem of Money

Conrad Russell

in King James VI and I and his English Parliaments

Published in print February 2011 | ISBN: 9780198205067
Published online May 2011 | e-ISBN: 9780191725098 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198205067.003.0009
James and the Problem of Money

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  • Early Modern History (1500 to 1700)

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This chapter returns to the problem of crown finance from a broader perspective, reviewing the extent of the problem faced by the Crown, the need for high levels of expenditure to reward servants and integrate the Scots, and the disputes caused by the ‘privatization’ of revenue collection in this period. It concludes that James's extravagance is only part of the explanation for his consistent financial shortfall and that the problem was rooted in a low taxation philosophy and the reluctance of early modern representative assemblies to address problems created by inflation and the ‘Military Revolution’ except under extreme duress.

Keywords: inflation; Military Revolution; privatization; taxation; crown finance

Chapter.  13006 words. 

Subjects: Early Modern History (1500 to 1700)

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