Financial Policy - Ordinary Revenue Flashcards
What are crown lands?
They were lands held by the king by inheritance/confiscated by traitors.
How many attainders were passed during Henry’s reign?
There were 138 attainders passed of which 46 were reversed.
What happened in 1486?
Henry persuaded Parliament to pass the Act of Resumption, which recovered for the Crown all the property granted since 1455.
What did Henry do to crown lands?
He modernised the way that they were administered.
What did Henry have control over in 1485?
He had control over all land owned by York, Lancaster, Principality of Wales, Duchy of Lancaster and Earls of Richmond, March and Warwick.
What is an escheat?
An escheat is a man who died and left no heirs and Henry gained more lands as a result of this.
How much bigger was crown lands in the 1450s to the end of Henry’s reign?
Five times bigger.
What did Henry’s feudal dues extend to?
It extended to marriage when the King could give married heirs and heiresses in marriage.
Who paid feudal obligations/feudal dues?
Tenants-in-chief (held land directly from the king). Henry was the greatest feudal lord.
What was relief?
It was money paid to the king as land was inherited.
What was a wardship?
When the king had the right to look after the heir and land if the heir was a minor.
How much money did wardships earn Henry in 1487?
£350
How much money did wardships earn Henry in 1507?
£6,000
What was a livery?
Fine paid to recover lands from a wardship.
What is a bond?
A written contract of good behaviour OR for the individual to perform a specific task.
What is a recognisance?
Formal acknowledgements of debts and other obligations owed to the Crown.
What had bonds been used for?
Bonds had been used for many years as a way of ensuring good service from those in customs and excise.
How much were bonds worth in 1505?
They were worth £35,000 per year.
How much money were bonds earning Henry in 1493?
£3,000
What happened after Battle of Bosworth?
Earl of Northumberland and Viscount Beaumont of Powicke had to pay £10,000 as guarantees of loyalty.
How many bonds were collected between the years 1485 and 1495?
191
What did customs dues account for?
They accounted for 1/3 of the king’s income by 1509.
Which customs duties were the most valuable?
Duties levied on wool, leather, cloth and wine.
How much money did custom duties earn Henry between 1485 and 1495?
£33,000 per year.
How much money did custom duties earn Henry between 1495 and 1509?
£40,000 per year.
What are prerogative duties?
Exports of leather, wool, wool fells and cloth.
What was granted for life in the 1485 parliament?
Tonnage and poundage. Tax on imports and exports,
What were profits from justice?
This was when Henry had a policy of punishing by fine even in treasonable cases that deserved the death penalty.
In 1495, Sir William Stanley was found guilty of what crime?
Treason. Henry allowed for a pardon to be paid of £9,000 as a lump sum followed by a further £1000 a year after.
What was the Earl of Northumberland fined for?
Misconduct. He had assaulted a royal ward and paid £10,000 as a pardon.
What did legal action have to start with?
It had to start with a writ which had to be paid for.
