text: The pragmatism of 'little by little' was coming to characterise his style of governance. At the same time, the curious combination of ability and complacency, idleness and shrewd judgement, warm emotions and lack of discretion so well described by Fontenay remained typical of James throughout his life.
  Royal finances
  Political events and developments of the Jacobean era cannot be understood separately from the economic and financial situation. James was deeply in debt in Scotland, and after 1603 he inherited an English debt of £350,000 from Elizabeth. By 1608 the English debt had risen to £1,400,000 and was increasing by £140,000 annually. Through a crash program of selling off royal demesnes, Lord Treasurer Robert Cecil reduced the debt to £300,000 and the annual deficit to £46,000 by 1610—but could not follow the same method of relief much farther. The result was a series of tense and often failed negotiations with Parliament for financial supports, a situation that deteriorated over the reigns of James and his son and heir Charles I until the crisis of the English Civil War.
  The Jacobean era ended with a severe economic depression in 1620–1626, complicated by a serious outbreak of bubonic plague in London in 1625.