Charles Davenant

Charles Davenant (1656–1714) was an English mercantilist economist, politician, and pamphleteer. He was Tory member of Parliament for St Ives (Cornwall), and for Great Bedwyn.

The eldest son of Sir William Davenant, the poet, he was born in London. He was educated at Cheam grammar school and Balliol College, Oxford, but left the university without taking a degree. He became manager of his father's theatre. Having taken the degree of LL.D., he became a member of Doctors' Commons.

In 1678 Davenant was appointed Commissioner of the Excise, earning £500 per year (equivalent to £70,000 in 2015); taxes were collected using the "farming system". In 1683 Britain ended the tax farming system, Davenant received £1000 per year as Commissioner. In 1685 he was elected to Parliament as M.P. for St Ives. However, the revolution of 1688 saw James II was exiled to France and William of Orange installed as king by Parliament. In 1689 Davenant lost his position as Commissioner of the Excise, and his loan to James II was nullified.

In 1692 he applied for Controller of the Excise, with Godolphin's support, but did not get the position. He applied again in 1694 and again failed to get the position, probably due to objections by Charles Montagu, the Chancellor of the Exchequer. In 1696 his friends in government, Shrewsbury and Godolphin, were under political attack. Godolphin resigned shortly afterward, and Davenant lost his main supporter for appointment to a public office.

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