Henry VII and Royal Finance

Question 1

What did ordinary revenue include?

Answer 1

• Feudal dues, which included relief, wardship and livery
• rents, sales of crops and resources from Crown lands
• fines and fees for legal documents

Question 2

How did Henry increase ordinary revenue?

Answer 2

• used the 1486 Act of Resumption and attainders
• didn’t give much land away in grants to family and friends
• improved management of Crown estates
• The Council Learned pursued feudal dues and bonds and recognisances

Question 3

What did extraordinary revenue include?

Answer 3

• Bonds and recognisances
• Loans and benevolence
• Feudal dues that were due on specific occasions (e.g., marriage of the monarch’s daughter or knighting of his son)
• Special taxes agreed by parliament for specific needs

Question 4

How did Henry increase extraordinary revenues?

Answer 4

• The Council Learned in Law investigated and enforced long-forgotten feudal dues and enforced bonds and recognisances

Question 5

How did Henry improve his administration?

Answer 5

• Used the Chamber system more than the Exchequer
• He kept a close eye on royal accounts, checking all entries.
• Introduced the Court of Audit to monitor wider govt spending

Question 6

Why did Henry VII use the Chamber system more than the Exchequer?

Answer 6

It was more efficient and he had more control over it