Henrys Financial Aims Flashcards
What was the crowns income at the beginning of Henry’s reign compared to the end?
12000 to 113000 pounds
Why was it important that Henry rebuild the crowns income?
War, power, prestige, kingship, smooth transfer of power to his heir and secure the dynasty in the longterm
How much did Henry leave behind for his heir?
300000 pounds
How did henry take control of his financial policies?
Shrewd financial tactics, instead of leaving the financial policies to the treasurer or the exchequer, he did it in his own ways in the privy chamber and chamber from 1495
Why was Henry labelled a miser?
Obsessed with hoarding money after the deaths of prince Arthur and his wife.
How many times greater was his income than that of his wealthiest noble?
20
Why was his income overshadowed and vulnerable compared to foreign countries?
France whose king had 800000 of revenue streaming in each yr
What was Henry’s main source of ordinary revenue and what acts enhanced it?
Crown land. Henry= biggest land owner so received money through rental income.
Acts of attainder and act of resumption in 1486 recovered all crown lands that had been given away since the start of the wars of the roses
What was feudal payments ?
Money from the people who lived and worked on his land, e.g, money would be paid to Henry if their oldest daughter married .
Wardship= gained profit from the property of underaged noble. E.g when the earl of Northumberland was killed in 1489, leaving his 10 yr old son to inherit his estate, Henry was made his ward and profited both financially and politically.
What was Henry’s income from wardship and marriages ?
1487= 350pounds. 1507= 6000 pounds per yr
What was custom duties?
Tunnage= exports. and poundage=imports
Wool wine and leather
How much did custom duties increase?
33000 pounds per yr at the beginning of his reign to about 40000 pounds at the end of
What were examples of extraordinary revenue?
Bnr and parliamentary taxes
How much was lord burgavenny put on a bond?
5000 pounds for 10 yrs for illegally retaining 471 men.
What were the wars caused by parliamentary taxes?
Yorkshire= Brittany/france
Cornish = scotland
