finance

• What customs and excise duties were granted to James II in 1685?

  Same as Charles II for life
• What was the estimated annual income from customs and excise for James II?

  £2 million per year
• How many Parliaments did James II call between 1685 and 1688?

  Two Parliaments
• What was the financial impact of James II ruling without new tax revenue?

  Relied on existing income
• What did the Declaration of Indulgence do?

  Suspended penal laws against Catholics and dissenters
• How did the Declaration of Indulgence affect political tensions?

  Worsened tensions with Parliament and Church
• Did James II rely on foreign subsidy treaties?

  No, he did not
• What was the estimated cost of army expansion from 1685 to 1688?

  £600,000+ per year
• How many men were in the standing army by 1688?

  Approximately 20,000 men
• What was the political perception of the army expansion under James II?

  Seen as a threat to Protestant constitution
• What was the financial impact of rebellion suppression in 1685?

  Moderate cost with expensive trials
• How was the army perceived in terms of its purpose during James II's reign?

  As a tool for Catholic absolutism
• What were the effects of James II's financial strategies?

  • Increased standing army without consent:
  • Created fear of absolutism
  • Alienated Parliament
  • Financed army from ordinary income:
  • Avoided debt but lacked flexibility
  • No direct borrowing or credit reforms:
  • Weak financial backing in crisis
• What was the outcome of James II's lifelong grant of customs and excise?

  Provided a decent base income
• What was politically unwise about James II avoiding Parliament?

  Limited ability to gain support or negotiate
• How did expanding the army affect James II's political standing?

  Backfired, seen as a threat
• What was the political perception of James II's religious policies funded by Crown income?

  Seen as subverting the Church of England
• How did James II's refusal for financial partnership with Parliament affect him?

  Helped trigger the Glorious Revolution
• What were the financial strengths and weaknesses of James II's reign?

  Strengths:

  • £2 million/year from customs & excise
  • No war debt due to peaceful reign

  
  

  Weaknesses:

  • No new income or flexible credit
  • Raised political opposition
• What was the result of James II's financial independence?

  Isolated him politically in 1688
• What was James II's financial position summary?

  £2 million/year income, no debt
• How did James II's financial situation compare to Charles II's?

  Fewer financial problems but major political issues
• What was the key takeaway regarding James II's finances and crisis survival?

  Had money to rule, not to survive crisis