'King James disposing of Baronetcies', 1897. The practice of awarding baronetcies (hereditary honours) was used by King James I of England (1566-1625) in 1611 as a means of raising funds. Gentlemen 'of good birth' with an income of at least ?1,000 a year were required to pay for the upkeep of thirty soldiers for three years, amounting to ?1,095, in return for the honour. From "The Comic History of England" by Gilbert Abbott A Beckett, with satirical illustrations by John Leech. [Bradbury, Agnew & Co, London, 1897]