Henry VII society/religion/economy Flashcards
Why was Henry VII so keen on keeping his finances in order? Did he manage to do this?
He did manage this as he left a solvent throne. He believed it to be incredibly important because he was a usurper and believed financial security could keep him on the throne
What method of finance did Henry VII start his reign using and why?
Exchequer method- subcontract the management of finances to a group of experts.
As a new King, he could focus on other things. It gave him time to learn. However, this was expensive and every motion had to go through several people
When did H7 change his method of finance and what did he change it to?
1497- he changed it to the Chamber method. This was where he managed his own finances through the Privy Council. Showed that he was a confident King
How much did each method of finance bring in annually?
Exchequer: about £11,700 a year
Chamber: about £42,000 a year
What are some examples of ordinary revenue?
Feudal dues (wardship, livery etc), custom duties (import/export taxes), crown lands
How many times did H7 update the Book of Rates?
2
How much do historians reckon custom duties brought in at the start and end of H7’s reign?
Went from £33,000 to £40,000 per year
What are some examples of extraordinary revenue?
Parliamentary subsidies, the French pension, clerical taxes, benevolences
How much in total across his reign did H7 raise (and repay) in loans?
About £203,000
What was the most common form of industry under H7? Why could this be seen as a minor issue?
Cottage industry- small scale industry. It meant that a lot of people were only producing enough for themselves and their community
How did H7 allow his navy to slip and why was this not really a problem?
At the start of his reign, they only had 7 ships in the navy. By 1488 this had reduced to 5, where it stayed. Henry’s defensive foreign policy meant that this wasn’t too much of an issue
What was the Hanseatic League?
They helped England to export their woollen cloth to Burgundy, which accounted for 90% of English exports
Who were the main explorers during H7’s reign? Did they achieve anything?
The Cabots (father and then son). John Cabot took 18 men and managed to get to part of America in the 1580s and was given a pension for life. He went with 6 ships on a second expedition, but only one made it. He was never heard from again
Sebastian Cabot asked for a sponsorship to go East in 1508. When he returns, H7 is dead and H8 had no plans to explore so he didn’t sponsor any more trips
Which religious movement was mainly growing during H7’s reign? What do they want?
Humanists. They are worried about corruption in the Church and want some kind of reform
How many Lollards were put on trial throughout H7’s reign? How did they respond?
73, but most recanted their beliefs
