sentences:  Salisbury took over the reins as Lord Treasurer himself in 1608 and, with the backing of the Privy Council, introduced a programme of economic reforms which steadily drove down the deficit.In an attempt to convince James to curb his extravagance, he wrote a series of frank tracts on the matter, and he tried to induce the king to grant limited pensions to his courtiers, rather than showering them with random gifts.A believer in the necessity of parliamentary contribution to government, Salisbury proposed to the Commons, in February 1610, an ambitious financial scheme, known as "The Great Contract", whereby Parliament would grant a lump sum of £600,000 to pay off the king's debts in return for ten royal concessions, plus an annual grant of £200,000.