Why was the Great Contract of great significance

The first 200 words of this essay...

Why was the Great Contract of great significance?

In February 1610, James I's first parliament established together a document known as the 'Great Contract'. This document was created to try and repair James I financial issues and in other ways try and improve his relations with Parliament.

The Great contract, as I said in a previous statement, was established to try and repair James' financial issues. James was a very extravagant spender; he spent money on unnecessary items such as a £77,630-pruning knife. Despite financial measures (Bate man and the Book of Rights) the monarchy are still in debt of £280,000 and this does not include the debt bestowed by Elizabeth.

D.L. Farmer - Stuart Age

"The king's greed thus ruined the crowns best chance for 50 years to get a regular income from parliament", D.L. farmer is placing the blame entirely upon James I and he is blaming him for his greed. James' finances at this point were his costs were a lot higher than his income. Parliament were trying to come to the arrangement using the Great contract that they would give James £200,000 per annum in exchange for wardship and purveyance to