financial income

Question 1

changes made to Crown lands

Answer 1

Henry changed administration so less money was lost to corruption and incompetence

Act of Resumption 1486 - reclaimed all Crown lands granted away since start of WoR

Question 2

effective crown lands

Answer 2

• increased by a rate of 30%

- annual income went from £3000-40,000

Question 3

changes made to customs duties

Answer 3

prerogative duties - paid on exports of wool, leather and cloth

import and export duties

Question 4

evidence of custom duties

Answer 4

made £40,000 per annum

Question 5

effective custom duties?

Answer 5

the revenue depended on the economy so it did not raise the income much

Question 6

changes to feudal dues

Answer 6

wardship, livery and marriage

-relief payments- to the crown when land was inherited instead of it being claimed by the throne

Question 7

evidence of feudal dues

Answer 7

1487- wardships and marriages earned £350. 1507 - over £6000 per annum

however, this process alienated the nobles

Question 8

effective feudal dues?

Answer 8

it was effective as it helped Henry’s authority and increased his revenue, however, it was not consistent

Question 9

bonds and recognisances affected

Answer 9

46 out of 62 noble families were financially tied to Henry

Question 10

evidence of bonds and recognisances

Answer 10

after Bosworth, the earl of Northumberland had to pay £10,000 as a guarantee of loyalty - annoyed the nobles

Question 11

Henry saw bonds and recognisances

Answer 11

as a way to keep the nobles in check- the more money he had, the more authority he had

Question 12

changes made to profits of justice

Answer 12

many cases ended with a fine being paid - Henry was entitled to all fees and fines

Question 13

evidence of profits and justice

Answer 13

the leaders of the cornish rebellion were executed but their followers were fined

Question 14

effective profits of justice

Answer 14

it was a good source of income and discouraged treason.

However, he was criticised for manipulating the legal system and caused resentment

Question 15

parliamentary grants

Answer 15

Henry avoided these as much as possible

Question 16

evidence of parliamentary grants

Answer 16

1487- request to pay for the Battle of Stoke

1496 - Warbeck and Scotland

Question 17

effective parliamentary grants?

Answer 17

it was fairly effective except that it caused two rebellions

Question 18

benevolences

Answer 18

a forced loan with no repayment

Question 19

evidence of loans and benevolences

Answer 19

£203,000 gained throughout his reign

Question 20

benevolances

Answer 20

• effective short term, however, showed his weakness as he had to borrow from nobles
• he raised £48,500 in 1491 to take his army to France

Question 21

changes made to clerical taxation

Answer 21

simony- the selling of church appointments

the crown kept the revenue from vacant bishoprics

Question 22

evidence of clerical taxation

Answer 22

charged £300 for Arch Deaconry of Buckingham

later in his reign Henry got £6000 a year from vacant bishoprics

Question 23

effectiveness of clerical taxation

Answer 23

effective as it got revenue, however, it caused corruption within the church and was not a consistent form of revenue

Question 24

feudal aid

Answer 24

collection of money on special occasions - like Prince Arthurs knighting

Question 25

evidence of feudal obligations

Answer 25

£30,000 raised from the knighting of Prince Arthur

Question 26

effectiveness of feudal obligations

Answer 26

it was effective short term, but it annoyed the nobles

Question 27

example of extraordinary income

Answer 27

the French pension from the treaty of Etaples

Question 28

amount from French pension

Answer 28

overall £159,000 paid in annual amounts of £5000

Question 29

effectiveness of the French pension

Answer 29

it prevented war and England gained £5000 a year

Question 30

In 1489

Answer 30

the Church gave £25,000 for war with France.

Question 31

overall

Answer 31

his financial policies were cautious and realistic. He avoided as far as possible an aggressive FP as that had been the single biggest reason for the poverty of earlier Kings.

Question 32

he exploited

Answer 32

his legal rights to claim special payments from his nobles to swell his treasury and to remind them of his control

Question 33

to some historians

Answer 33

Henry was a miser, obsessed with hoarding money

Question 34

he did spend

Answer 34

lavishly to entertain foreign guests and to promote himself and his dynasty - symbols of the tudor rose and the Beaufort Portcullis appeared everywhere

Question 35

he loaned

Answer 35

huge ammounts of money to Emperor Maximillian and Philip of Burgundy. Whilst never repaid, the money was spent for the security of England and Wales