1.4) Use of Financial Resources by Henry VI Flashcards
What was the financial position of Henry VI and why?
Very poor and in a lot of debt due to the Hundred Years War with France and slump in European trade
What is patronage?
The granting of land, titles and offices as a reward in return for a royal favour
Why did monarchs use patronage?
Would keep order by gaining influence with nobles, which then nobles could give out their own patronage for the same effect
How did Henry VI use patronage?
Lack of judgement in handing out patronage so used it poorly, did not give it to the right people
What colleges did Henry VI endow (form of patronage) and in what years?
-Eton College in 1440
-King’s College in 1443
Why was handing out patronage a problem for Henry VI?
He could not afford it as the Crown was already heavily in debt and it did not grant him influence, as he gave it to people out of personal generosity rather than to strengthen his own position
What was the Act and Resumption and it what year was it passed?
Reclaiming patronage Henry VI had handed out in 1450
What house of government passed the Act of Resumption?
House of Commons
Why was the Act of Resumption not effective?
Henry VI made exceptions for people in his household, where most of his debt was
When was the second Act of Resumption passed?
1451
Why was the second Act of Resumption more effective than the first?
It made no exceptions for anyone unlike, the first
Who benefited greatly from Henry VI’s generosity and how?
-Adam Moleyns was made a Bishop and Keeper of the Privy Seal
-William Ayscouch was made Bishop of Salisbury
What is the Keeper of the Privy Seal?
Someone who was responsible for the monarch’s private seal (private business)
Which nobles also benifited from Henry VI’s use of patronage?
-Duke of York and Gloucester recieved grants
-Earl of Buckingham was elevated to Duke
How did the monarch generate income?
-Crown lands
-Customs revenues
-Taxes
-Loans
Did Customs Revenues change, by how much over what years?
Around £41,000 annually in 1421 to around £28,000 by 1446-8
What years had parliament granted taxes for the War on France in the 1440’s?
1445-9
Why was parliament reluctant to grant taxes?
-The War on France was going badly
-The King was finding it difficult to find loans
-The Crown was heavily in debt
Which treaty with France was signed and in what year, ensuring what?
Treaty of Tours in 1444, ensuring breathing space for the government to repay debt and rebuild the war chest
What were the taxes that parliament had granted in the 1440’s used for by who?
The Treasurer of England, Ralph Lumley, used the taxes to repay Crown debt rather than the war chest for the Hundred Years War
Who was appointed Treasurer of England in 1447?
Ralph Lumley
When was Ralph Lumley appointed Treasurer of England?
1447
What was the effect of taxpayers money being spent on Crown debt rather than the war chest for the War on France and why?
-Made people more willing to loan to the crown as there is proof they are paying their debts
-Cardinal Beaufort, a major bankroller to the war effort, had died in 1447?
When did Cardinal Beaufort die?
1447
Why did Cardinal Beaufort bankroll the war effort with France?
To try to secure permanent estates in France for his nephews and gain influence with the King
When and where and how was the Treaty of Tours broken, approved by who?
Fougeres in March 1449 when an English force attacked, approved by the Duke of Suffolk and Somerset
How was the breaking of the Treaty of Tours negative for the crown?
It shortened the time they could of taken to repay debts and build up the war, also the lands they had lost after this point may of not been lost if they were given more time to prepare
What tax that was granted by parliament but was minimal due to its limited support because of prior use of taxes?
February 1449
