Henry VII: Royal Finances

Question 1

What were Henry’s financial aims?

Answer 1

1. Reorganise the financial administration.
2. Exploit sources of ordinary revenue.
3. Increase income from extraordinary revenue.

Question 2

Why did the Yorkshire Tax Revolt of 1489 take place?

Answer 2

1. Henry’s need to defend Brittany from France required more funds.
2. Henry VII did not negotiate - leading to the murder of the Earl of Northumberland (the tax collector).

Question 3

Why did the Cornish Rising of 1497 take place?

Answer 3

Henry wanted to fund the defence of the invasion of Warback.

Question 4

Where did the Cornish Rebels gather in?

Where did they plan to walk to?

Answer 4

1. Bodmin

2. London

Question 5

Where were the Cornish Rebels crushed?

Answer 5

Blackheath.

Question 6

How many royal soldiers were there?

How many Cornish Rebels were there?

Answer 6

1. 25,000 Royal Soldiers

2. 15,000 Cornish Rebels

Question 7

What system was used in the Middle Ages?

What system did Edward IV use?

Answer 7

1. Exchequer

2. Chamber system

Question 8

Henry VII used both, but in what order?

Answer 8

Firstly the Exchequer, then the Chamber system - which gave him more power.

Question 9

What can be categorised as Ordinary Revenue?
What Act was made in 1486?
Where did revenue from lands increase tenfold?

Answer 9

1. Royal lands, custom duties, money from thee justice system, feudal rights.
2. Act of Resumption - could take back royal lands.
3. Duchy of Lancaster.

Question 10

How much money was raised from legal fines?

Answer 10

1. 1487 - £350

2. 1507 - £6000

Question 11

What can be categorised as Extraordinary Revenue?

Answer 11

Parliamentary taxes, loans and benevolences, money from the Church