CHRISTOPHER HILL'S Economic Problems of the Church from Archbishop Whitgift to the Long parliament’ has long been the standard work on the financial composition of the post-Reformation English church. Over the past fifteen years, however, historians have taken a second look at the material covered by Hill and have begun to formulate new questions about it. Historians such as Felicity Heal and Rosemary O'Day have led new investigations into the economic conditions of the English church. Despite this renewed interest, no one has tackled the more difficult subject of recusant finances. Here is a world hidden behind aliases and secret trusts and one that remains almost totally unexplored. In a series of articles to appear in this journal, I shall venture ‘where angels fear to tread’ and attempt to make sense out of the complicated and confusing records of Jesuit financial activity. This article, which will serve as an introduction to the series, will be concerned with the constitutional development of the Society of Jesus, the spiritual exhortations to poverty as an evangelical counsel and a religious vow, and the legal entanglements of the penal laws in England. It is essential to remember that, first and foremost, the English Jesuits were religious bound by vows, specifically the vow of poverty. All financial activities and investments were restricted by that vow as it was then understood throughout the Society. Future articles will examine the income and the investments of the early Jesuit mission and its eventual subdivision into colleges and residences.