On 22 May 1611 King James I set up the present hereditary Order of Baronets in England . He made 200 gentlemen of good birth baronets . `` The present hereditary Order of Baronets in England dates from 22 May 1611 when it was erected by James I who granted the first Letters Patent to 200 gentlemen of good birth with an income of at least Â # 1000 a year .