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6. History: Crown Debt- Lionel Cranfield

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AS - Level History Flashcards on 6. History: Crown Debt- Lionel Cranfield, created by Rebecca Davidson on 05/05/2016.
Rebecca Davidson
Flashcards by Rebecca Davidson, updated more than 1 year ago
Rebecca Davidson
Created by Rebecca Davidson over 8 years ago
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HOW DID CRANFIELD TRY TO SOLVE JAMES' DEBT PROBLEMS? CALLED A HALT TO BORROWING, SOLD CROWN LANDS, OBTAINED AS MUCH FROM EXISTING REVENUE. HE INCREASED FARMERS RENT BY £4000, CUT GIFTS AND PENSIONS THAT JAMES OFTEN GAVE OUT.
DID JAMES FOLLOW CRANFIELD'S SOLUTION? NO, HE MADE EXCEPTIONS FOR BUCKINGHAM (GAVE HIM £30,000 FOR A NEW HOUSE). SPENT LAVISHLY IN BOHEMIA CRISIS.
WHY DID CRANFIELD'S PLAN FAIL? BECAUSE JAMES CONTINUED TO OVERSPEND- DEBT= £1,624,523 (1621).
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