How far did financial reasons undermine Henry VI? (-1460)

Question 1

How did financial reasons undermine Henry VI and his government?

Answer 1

• created unpopularity through corruption (lingered in SE since Jack Cade’s rebellion in 1450)
• alienated London’s merchants (as shown when Margaret’s army were barred from London on 22nd Feb 1461)

Question 2

Why did financial reasons significantly undermine the Lancastrian regime?

Answer 2

• economic depression caused by poor commercial policies and piracy in the English Channel since 1450
• fall in export of wool, significant drop in royal income
• purveyance (necessities, like food, for King’s household) abused in 1450s leaves large debt + resentment
• increased spending by royal couple (Margaret, Eton College, King’s College) creates reputation for decadence, resented

Question 3

What are some examples of financial weakness in Henry VI’s government 1450-61?

Answer 3

• Henry VI’s royal revenues just 60% of Henry V’s
• Richard of York still owed £38,000 from French war loans

Question 4

Why did financial reasons NOT significantly undermine the Lancastrian regime?

Answer 4

• merchant oligarchs barely affected by pre-1459 conflicts
• economic instability was common at the time, and no evidence of Lancs losing support in nobility because of it
• stronger reasons? e.g. debt of French war = political failure instead, or actions of York = a more significant reason for collapse?