James I and His Finance Policy

In: Historical Events

Submitted By alistairgould
Words 1107
Pages 5
King James I can certainly be blamed for the financial issues during his reign as ultimately he had the most power and the most control in the country. However the problematic nature of the financial structure in this period cannot be underestimated as corruption was rife and many aspects of the financial system were outdated.
James didn’t inherit a very prosperous situation when he came to the English throne as the treasury was empty, the financial system was in dire need of reform and parliament were unwilling to contribute to major changes. The tax system was so outdated that people were paying four times under what they were supposed to be paying to the crown and only around 7% of the crowns income was generated by tax (4 times less than France). In addition to this, inflation was extortionate and the war with Spain and the Irish Rebellion conflict was costing the crown an unaffordable amount. For example, the Irish Rebellion had cost James £600,000 by the time it ended and money still had to be spent afterwards on maintaining border garrisons. James only made the situation worse with his extensive extravagance. A good illustration of is this is the £400,000 he gave to a Scottish favourite named James Hay (First Earl of Carlisle) throughout his reign. Although James had a lonely childhood and was keen to make close friends, he simply could not afford to spend as much as he did on his favourites; furthermore Hay dies penniless reflecting how James was not careful with money and it didn’t necessarily go to a good cause. James happily spent £20,000 on his coronation and a further £36,000 on his royal wardrobe when he came to the throne. He also spent £185,000 on jewels from 1603-16012, debt was piling up rapidly. The idea of a King ‘living by his own means’ was outdated but this could not excuse James’ folly spending.
James displayed half hearted support for his…...

Similar Documents

How Important Was James 1 Attempt to Obtain a Union Between England and Scotland in Causing Difficulties with His First Parliament in the Years 1604-1610?

...factors stained James relations with Parliament too. Finance was the biggest issue between both of them, as the Great contract was caused of parliaments dissolve in 1610 and religion to some extent caused some strain. James's open-handed generosity, particularly towards his Scottish companions, won him few friends among the English. James would become unpopular for his choices of ministers based on personality – those who flattered him - rather than from talent. Robert Carr had been James’ pageboy in Scotland, was only 25 upon taking the position, and became corrupt and poorly skilled for the position. Both Carr and his wife were found guilty of the murder of Sir Thomas Overbury in 1615, this also proved unpopular with in parliament. This caused tension between both parts as there was a kind of hatred, which in return would cause problems with passing bills into laws. Parliament rejected union of England and Scotland, preferring the monarch to be King of both whiles each maintaining their independence. After the Gunpowder Plot of 1605 James and Parliament again stood on a better footing – James commented that if he had died, he would have done so with the “most honourable and best company and in that most honourable and fittest place for a king to be in”. The parliamentary session in 1606 allowed James three direct taxes. However things had started to become sour again by 4th July 1607 when a union of England and Scotland was again rejected by Parliament which James......

Words: 980 - Pages: 4

Busn379 Finance - Course Project I

...Course Project – Part I Task 1: Assessing loan options for Air Jet Best Parts, Inc. The company needs to finance $8,000,000 for a new factory in Mexico. The funds will be obtained through a commercial loan and by issuing corporate bonds. Here is some of the information regarding the APRs offered by two well-known commercial banks. Bank APR Number of Times Compounded National First Prime Rate + 6.75% Semiannually Regions Best 13.17 Monthly 1. Assuming that Air Jet Parts, Inc. is considering loans from National First and Regions Best, what are the EARs for these two banks? Hint for National Bank: Go to the St. Louis Federal Reserve Board’s website (http://research.stlouisfed.org/fred2/). Select “Interest Rates” and then “Prime Bank Loan Rate”. Use the latest MPRIME. Show your calculations. (25 pts.) Bank Prime Loan Rate as of Jan 26, 2013 – 3.25% according to the Federal Reserve Bank of St. Louis. National First - EAR EAR = (1+(Prime Rate +6.75%)/2)^2-1 EAR = (1+(3.25% + 6.75%)/2)^2–1 EAR = (1+.10/2)^2–1 EAR = (1.05)^2-1 EAR = 1.1025-1 EAR = .1025 EAR = 10.25% Regions Best - EAR EAR = (1+13.17%/12)^12-1 EAR = (1+0.010975)^12-1 EAR = (1.010975)^12-1 EAR = 1.13995-1 EAR = 0.13995 EAR = 13.995% EAR = 14%   2. Based on your calculations above, which of the two banks would you recommend and why? Explain your rationale. (25 pts.) I would suggest that Jet Air go with National First to get their loan. I say this because of the......

Words: 901 - Pages: 4

Hi I Am Pinky

...presentations and career workshops • unique opportunity to network with other graduates A and professionals from around the world • An excellent chance of receiving a job offer • Be part of the most successful event of its kind! Applications are welcome from candidates with: • Fluency in English and at least one other Asian language • Work authorisation for at least one Asian country • An undergraduate degree or professional qualification Job Opportunities: Attending companies will be recruiting for positions across a range of functional areas, including: • Engineering • Finance • Human Resources • Information Technology • Logistics/Supply Chain • Marketing • Management/Consulting • Sales “ At the Careers in Asia Recruitment Summit I attended three challenging and exciting interviews. I even secured an on-the-spot offer from HSBC! Annie, Careers in Asia, London 2011 ” I managed to secure an on-the-spot interview on the first day of the Summit! Thank you for the opportunity. Syed, Careers in Asia, London 2012 “ ” www.careersinasia.com Apply Now! www.careersinasia.com ...

Words: 326 - Pages: 2

Policy Analysis I

...Policy Analysis I CJA 464 October 7th, 2013 Policy Analysis I The constant battle of illegal immigration is a major issue in the United States that has been a constant issue for many years. The issues of illegal immigration are described as the migration of foreign citizens into the United States of America. This is done through illegal routes, such as hiding on boats porting in the United States, crossing through miles of treacherous terrain illegally to jump the borders of Mexico, and violating the agreement of a tourist visa as well as illegally boarding planes bound for the United States. It is a known fact that the men and women who enter this country do not meet the legal requirements to enter the United States from foreign countries. The research conducted will describe the issues of illegal immigration, whether the current policy is a regulatory or legislative-initiated policy, and the issue with the policy. A review of the possible constitutional violations will be described as well as if this issue or policy will affect the community, the accused, and the victims of any crimes committed by the illegal immigrants. The Issue The policy makers of the American government typically will take multiple routes in taking care of these issues before needing to develop a policy that will assist in combatting the concerns of the government. The existing immigration policies have been active for many years and for that same amount of time the policies have been......

Words: 1991 - Pages: 8

"Don't Call Me I Won't Call You" James Shelley

...Stylistic analysis of the article “Don’t call me and I won’t call you”, Jim Shelley with the chilling story of one man for whom the party line’s over, published in Weekend Guardian. The extract reveals us a life-story of James Shelley, the story of his unusual addiction, the obsession to phone and to be phoned that led to his dismissal from the office, abandonment of friends and above all led to the personal psychological crisis. The correspondent’s aim is to confess frankly in ironical way to his telephone addiction ( he’s used to call it telephone frenzy); in certain sense to ridicule his own obsession and some other addictions that occur in our life. To demonstrate that his confession is honest and make it convincing the correspondent uses many special techniques. For instance, the narration goes from the first person, personal pronoun “I” is like the actual evidence of all events and creates the potential context of sympathy. Framing repetition “My name is Jim Shelley, and I’m an addict” used in the beginning of the article and in the end greatly shows the degree of sincerity and persuasiveness of the author. As regards the ironical attitude, the usage of “With these words I began to break the spells” as if he was possessed by evil spells, “I’d disappear for a quick fix a swift hint” terminology of drug-addicts compared to symptoms of his telephone frenzy adds as well the portion of irony. Cradling the phone- as if he treated the phone or a receiver as a little baby,......

Words: 433 - Pages: 2

Hi I Am Qwertyayay

...Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi Hi. Hi hi hi hi hi hi hi hi hi hi...

Words: 253 - Pages: 2

Business Policy/Finance

...Task 2: Evaluating Competitor’s Stock AirJet Best Parts, Inc. is concerned regarding recent changes in its stock prices for the company and would like to determine the stock prices for key competitors. Key competitors include Raytheon, Boeing, Lockheed Martin, and the Northrop Grumman Corporation. Using the dividend growth model and assuming a dividend growth rate of 5%, what is the rate of return for one of three key competitors? Use Yahoo Finance to obtain the latest dividend amount and price for one selected company. (15 pts) Raytheon Co. as of Sept 21, 2012Price: 58.12Dividend: 2.00Rate of return2 * (1 + 0.05) / 58.12 + 0.05= 0.0361= 3.61% Using the rate of return above, what should be the current share price of AirJet Best Parts, Inc. if the company maintains a constant 1% growth rate in dividends and the most recent dividend per share paid on the stock was $1.50? Show your calculations. (10 pts) Assume AirJet Best Parts has also a preferred stock issue. The most recent dividend per share paid on the stock was also $1.50, the same as the common stock. Which one would you think has a higher price, the preferred stock or the current stock? Explain your rationale. (5 pts) What would happen with the price you computed above if AirJet Best Parts, Inc. announces that dividends at the end of the year will increase? What if the required rate of return increases? What changes in dividends will affect the stock price and how? (10 pts) Task 3:......

Words: 373 - Pages: 2

How Successfully Did James I Deal with Religious Problems During His Reign?

...How successfully did James I deal with religious problems during his reign? In early stages of his reign James’ focus on progressive negotiation and tolerance was effective in limiting religious divisions. However, after the outbreak of the Thirty Years’ war, such tensions intensified and James’ strategies brought limited success as people’s religious opinions became polarised and people were less inclined to negotiate with him. It can be argued that James was not so successful in resolving religious problems throughout his reign although, I think that he was quite successful in doing just this as he was persistent in keeping his philosophy of peace. James was more successful in dealing with religious divisions due to his negotiation and emphatic actions towards the problems. For example with the Hampton Court Conference which was developed from the Millenary Petition, James was willing to listen from their standpoint which showed him to be much understanding of the circumstances. Even though little change was brought to the table, James was able to publish the common prayer book in 1611 which pleased many of the Puritans. Furthermore, James’ response to the Gunpowder plot was abstained in juxtaposition (in contrast) with his predecessors. This pursued a balance within the church and illustrated James’ disposition for reconciliation. Moreover, his appointments also portrayed his emphatic ways to solve religious divisions. For instance his appointment of Puritan, George......

Words: 433 - Pages: 2

Hi I Want to Done

...astrolabe and the Antikythera mechanism (which dates from about 150-100 BC) are examples of automated calculation machines. Programming Main page: Computer programming Some people did not want a machine that would do the same thing over and over again. For example, a music box is a machine that plays the same music over and over again. Some people wanted to be able to tell their machine to do different things. For example, they wanted to tell the music box to play different music every time. They wanted to be able to program the music box- to order the music box to play different music. This part of computer history is called the "history of programmable machines" which is a fancy phrase for "The history of machines that I can order to do different things if I know how to speak their language." One of the first examples of this was built by Hero of Alexandria (c. 10–70 AD). He built a mechanical theater which performed a play lasting 10 minutes and was operated by a complex system of ropes and drums. These ropes and drums were the language of the machine- they told what the machine did and when. Some people argue that this is the first programmable machine.[1] Most historians agree that the "castle clock", an astronomical clock invented by Al-Jazari in 1206, is the first known programmable analog computer.[2] It showed the zodiac, the solar and lunar orbits, a crescent moon-shaped pointer travelling across a gateway that made some doors to open every hour,[3][4]......

Words: 1006 - Pages: 5

Stalin and His Policies

...Although it is unarguable to deny that there was certain economic progress in Stalinist Russia throughout the 1930s, it is understandable to postulate that the policies implicated under Stalin’s regime were merely introduced primarily to consolidate his political hold on the USSR. During this period, Stalin placed particular emphasis on Industrialisation and the abolition of older methods of peasant-controlled farming to be replaced with state-controlled collectives. It is debatable as to whether these policies can be viewed as successful, for example; the conditions of the Soviet industrial workers were marginally lower than in 1928. Yet whatever hardships the workers faced, the fact that Russia was ultimately capable, in an economic sense, of defeating Nazi Germany in a successful military struggle shows that some of the economic implications enforced during the 1930s were at the very least marginally productive and gainful. In this essay, I shall highlight the extent to which the aforementioned policies can be viewed as successful. Stalin’s economic policies had one essential aim—the modernisation of the Soviet economy via two essential methods: collectivisation and industrialisation. Beginning in 1928, much of Russia’s economy (in terms of agriculture and industry) was brought directly under state control. Under Stalin, this was to be total. The way these radical were changes implicated has meant that the process was referred to as the ‘second revolution,’ a way of......

Words: 299 - Pages: 2

I Am Studying Mba - Banking & Finance I Am Studying Mba - Banking & Finance

...I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & FinanceI am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & FinanceI am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & FinanceI am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA - Banking & Finance I am studying MBA -......

Words: 6927 - Pages: 28

James I Financial Policy

...the rows over finance caused the greatest conflict. Parliament and James I had conflicts in a variety of areas such as finance but the rows over finance did not cause the greatest conflict under James I. There were many other factors such as the royal prerogative and foreign policy which all caused more conflict. In terms of the extent of conflict finance was less significant than other factors. This is because the most serious the conflict that aroused over finance was an angry exchange of words when James called parliament a disgrace a disgrace in 1610. This was because they delayed in passing the great contract. This disagreement caused less conflict than foreign policy which in 1621 led to the protestation. This was the greatest conflict that arouse during the reign of James. This was because not only was there the physical element of James actually ripping the document out of Parliament’s journals but it has been described by many Whig historians to put England “on the high road to civil war. Although both the conflicts really came about because of the royal prerogative meaning that the royal prerogative caused the greatest conflict under James I. This was because the protestation was really a conflict over he believed foreign policy was his royal prerogative and it should not be discussed by the commons and the commons challenged him on this thus questioning the royal prerogative meaning that the royal prerogative was a greater cause of conflict than......

Words: 660 - Pages: 3

Policy Analysis I Paper

...Policy Development Paper Donnita Cleveland CJA 464- October 14, 2015 Harry Kirk Policy Development Paper Prison overcrowding has been a major problem in this country for the last 20 years. This problem stemmed from many different causes or reasons. The fundamental breakdown of the correctional system as a whole has contributed to this problem. This has caused havoc within our system in many different ways especially from a financial standpoint. It cost a tremendous amount of money to house prisoners, and death row inmate’s cost of incarceration is astronomically high. As this paper goes along we will look at some of the reasons as to why our prisons are overcrowded, and how we might be able to remedy the situation. Prison overcrowding has become an issue in just about every state in the country, and especially in California, New York, and Texas. In 1980 there were states that a tougher outlook on crime which in turn resulted in several new policies that were adopted. California adopted, and enforced the three-strike policy, and New York implemented the broken window policy. According to Jerome Mullins,” the three strike law has significantly increased the overcrowding of prisons” (Mullins, 2005). This policy increases the prison sentence for those already serving time although it also prevents a person previously convicted from receiving any punishment other prison time. California had major impacts due to this law from the onset, and in less than a......

Words: 2415 - Pages: 10

Why Do I Study Managerial Finance?

... Why do I study Managerial Finance? MBA in Finance Telecom Egypt Company It gives me much pleasure to give a snapshot on the benefit of studying this course, Managerial finance. I can get the best use of this course not only on my career path but also on my personal life. First, regarding my career path, I am working in the payroll department in Telecom Egypt and actually I cannot find my passion in this field but really I adore the field of finance and investment so I studied a post-graduate diploma in investment and Finance Management also I am studying MBA now and I will specialize in finance to be qualified to change my career, inside Telecom Egypt or outside it, into the field of investment and finance specially the financial analysis. Secondly, regarding my personal life I would like to enter the field of stock market but not as an employee but as an investor so managerial finance course taught me how to analyze the securities, how to calculate the return of each security, how to calculate the expected return, how to maximize my wealth and how to minimize the risk. This course gave me the knowledge of how to depend on myself in making the decision of buying and selling in the stock market not just depending on the advices of brokers who may cheat me for a certain reason specially in the atmosphere of speculation happening nowadays in the Egyptian stock market because at the end of talk I can say......

Words: 274 - Pages: 2

Hi, How Can I Help You?

..."Hi, Can I Help You?" It was so dark and cold. I couldn't stop counting the drops that hit my windshield. 7,8,9,10,11....constantly missing one, I would restart counting. I didn't want to focus on anything else while on my way to see him. Counting the drops helped keep my head calm. Although, it also helped me nearly get into a car crash. I should pay more attention at what's in front of me. Like the whole slew of cars during this bitch of a rainstorm. Nearly four years it was since I last saw him. Four years since I had last saw his boney frame and unchanged, soiled clothing. Four years since I thought this world was just compiled of shit and dirt. And four years since I couldn't wait for him to be taken away, to see what life is like without him. Maybe he had changed or maybe he was still drinking away the tiniest bit of man he had left. Hoping he would remain the drunk he always was, I pulled up to the house he supposedly was squatting in. Remembering the address I read on the restraining order documents, I couldn't stop repeating the numbers to myself. Stomach twisted, I walked up to the house. I looked at what, essentially, resembled who and what my dad was. A mangy, dirty, and neglected structure. Hesitantly knocking on "his" door, I found nor heard my dad or anyone for that matter. Panic had set in. I felt pissed off. Those feelings were not foreign when dealing with this man. Of course he wasn't at this house. Of Course He Wasn't There. He never was, why would......

Words: 1093 - Pages: 5