Finance

Question 1

Sources of ordinary revenue.

Answer 1

1. Profits of justice.
2. Bonds and recognisances.
3. Feudal dues.
4. Crownlands.
5. Customs duties.

Question 2

Sources of extraordinary revenue.

Answer 2

1. French pension.
2. Benevolences.
3. Loans.
4. Parliamentary grants.
5. Clerical taxes.
6. Feudal obligations.

Question 3

Why did Henry change to the chamber system of finance?

Answer 3

1. Henry was a usurper and wary of relying on others because of it. The chamber system allowed personal control.
2. Increased crown revenue.
3. Quick access to money.

Question 4

The amount of crown land was ___ times larger under Henry than in the ___.

Answer 4

1. 5 times.

2. 1450s.

Question 5

Henry owned more property than any sovereign since ____.

Answer 5

The Norman Conquest.

Question 6

1. Edward IV’s annual revenue from crown lands?
2. Henry’s annual revenue from crown lands in his early years?
3. Henry’s annual revenue from crown lands in 1508?

Answer 6

1. £15,000
2. £3000
3. £42,000

Question 7

1. How much did Henry make from feudal dues in 1487?

2. How much did Henry make from feudal dues in 1507?

Answer 7

1. Under £350.

2. £6000.

Question 8

How much did Henry get for knighting prince Arthur in 1504?

Answer 8

£30,000.

Question 9

How much was left in the treasury for Henry VIII?

Answer 9

£9000

Question 10

1. Henry’s annual income by the end of his reign.
2. Edward IV’s annual income.
3. Average annual income of a French or Spanish king.

Answer 10

1. £100,000
2. £60,000.
3. £800,000.

Question 11

1. How much did Edward IV make on average annually from customs revenue?
2. How much did Henry make on average annually from customs revenue?

Answer 11

1. £70,000.

2. £40,000.

Question 12

What was Francis Drake’s view on Henry’s finances? What year did he make those comments?

Answer 12

He thought Henry was obsessed with money. He made this comment in 1612.

Question 13

Which historian believes Henry exploited people for money?

Answer 13

Christine Carpenter.

Question 14

Which historian believes Henry is clever for making the most of his wide range of incomes?

Answer 14

John Guy.

Question 15

Why was finance important?

Answer 15

1. Needed to repay the money he borrowed for the coronation.
2. Wanted to leave money for his children.
3. Needed money for image and prestige.
4. Needed money to reward people.
5. He was a usurper king with no dynastic wealth.
6. Money for defence and security.
7. Didn’t want to tax too much.