The ancient god of the sun and also the arts, Apollo, represents the generosity of kings. In a pose which echoes the King’s nearby in 'The Wise Rule of James I', he is painted with light radiating from his head, as he triumphs over a semi-naked woman, who represents Avarice or Greed.
Apollo holds a cornucopia- a horn of plenty - from which pour golden coins and the royal regalia/ [OR the crown, sceptre and orb]. James I was renowned for his personal generosity.
In contrast, Avarice clutches a tightly closed purse in her hand.