finance

• What was the annual financial promise made to Charles II by the Convention Parliament Settlement in 1660?

  £1.2 million
• Why was the financial promise from the Convention Parliament Settlement never fully realized?

  Only approximately £1 million was raised
• What did the Abolition of Feudal Tenures in 1660 end?

  Court of Wards
• How did the Abolition of Feudal Tenures financially impact the Crown?

  Lost feudal income; excise tax became key revenue
• What was the Hearth Tax Act of 1662?

  Tax on number of hearths in a house
• What was the estimated revenue from the Hearth Tax Act, and how much was actually raised?

  Estimated £250,000/year; raised only ~£100,000
• What was the purpose of the Stop of the Exchequer in 1672?

  Suspended repayment of Crown debts
• What was the financial impact of the Stop of the Exchequer?

  Caused financial panic, harmed Crown credit
• What was the Treaty of Dover in 1670?

  Secret deal with Louis XIV for £225,000/year
• What financial independence did the Treaty of Dover provide Charles II?

  Temporary financial independence from Parliament
• What was the purpose of the Public Accounts Act in 1679?

  Parliamentary scrutiny of royal finances
• What was the outcome of the Public Accounts Act regarding royal corruption?

  Attempt to limit corruption; only partly successful
• What was the estimated cost of the Second Anglo-Dutch War?

  £5.2 million
• What was the impact of Parliament's refusal to fully fund the Second Anglo-Dutch War?

  Led to financial crisis and humiliation
• How much did the Third Anglo-Dutch War cost?

  £2 million
• How was the Third Anglo-Dutch War funded?

  By Treaty of Dover and Stop of the Exchequer
• What were the secret subsidies from France during the 1670s and 80s?

  ~£225,000/year
• What was the purpose of the secret subsidies from France?

  To avoid recalling Parliament
• What was the annual cost of the Tangier garrison?

  ~£100,000/year
• What was the financial outcome of selling Dunkirk to France in 1662?

  Short-term gain of £400,000
• What was one effect of poor finances on Charles II's reliance on Parliament?

  Undermined the idea of divine right monarchy
• How did dependency on French subsidies affect national sovereignty?

  Threatened sovereignty; fueled anti-Catholic sentiment
• What was one consequence of court extravagance during Charles II's reign?

  Undermined public trust
• Why was tax collection ineffective during Charles II's reign?

  Hearth Tax widely evaded; corrupt officials
• What was one result of the inability to finance wars?

  Forced into premature peace
• What was the outcome of the excise tax system reform?

  Moderately successful but fell short of need
• What was the intended purpose of the Hearth Tax?

  To raise large income
• Why was the Hearth Tax largely unsuccessful?

  It was inefficient and unpopular
• What was the short-term financial outcome of selling Dunkirk?

  £400,000 gain
• What was the impact of the Stop of the Exchequer on the Crown's reputation?

  Damaged Crown reputation and creditworthiness
• What was the political danger of accepting French subsidies?

  It made the king politically vulnerable
• What was the outcome of the Parliamentary scrutiny from 1679 to 1681?

  Partly successful in exposing mismanagement
• What were the main financial challenges faced by Charles II during his reign?

  • Never secured financial independence from Parliament
  • Wars were too expensive for Crown income
  • Dependency on French subsidies made him vulnerable
  • Taxation reforms largely failed due to corruption
  • Extravagance led to public suspicion and tension