Do You Agree That Before 1621 James L’s Problems with Parliament Were Caused Mainly by the Financial Difficulties He Inherited from Elizabeth?

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Since the beginning of James I’s reign he has been facing many financial issues were have many possible sources. Although Elizabeth caused many financial problems in England she is not the key reason for James’ bad relationship with parliament. James’ extravagance caused many financial issues within England as it led to a bad economy. If he wasn’t so extravagant then the financial problems left by Elizabeth of £350,000 debt would have been resolved leading to James relationship with parliament flourishing. Elizabeth made up a lot of debt mainly by fighting the war with Spain which didn’t end until 1604 and so James had to spend some of the governmental money on funding this war. James also wasn’t very good at political debated or talking to the English parliament as they weren’t keen on his favourable Scots so this led to tension there and them not wanting to help fund the war on Spain now James was king. However id James had worked on getting rid of Elizabeth’s debt from the war, monopolies and purveyance then the economy in England would have been more stable. James had financial issues which were down to Elizabeth and what he inherited from her. In source 1 Smith states that “The Spanish war imposed heavy burdens on the country” which is shown in the fact Elizabeth incurred debts of ‘£300,000 a year in ordinary revenue’, and her expedition in the new world lost the English over £5,000 and gave henry iv of France £20,000 to gain his loyalty. Elizabeth then decided to ‘sell crown lands’ in order to help pay for the war but by doing so she damaged the English economy as it meant that the income she got from crown lands was a one of payment as they no longer belonged to her, unlike when she had put them up for renting which would gain more money overtime and was a steady way for the crown to gain money. Smith also talks about the ‘monopolies crisis of 1601’ which is
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