Royal Finances Flashcards
1
Q
What is patronage
A
A reward with land or titles
2
Q
What were Henry’s financial aims
A
- Henry needed to raise funds to raise an army to defeat rebellions
- Henry wanted to be rich
- he wanted a full treasury so his son could defeat rebellions to establish the dynasty
-wanted to reorganise the financial administration as a wealthy king was a secure one
3
Q
What was the exchequer system
A
The system Henry got rid of as he only made £11,700 compared to Richard III £25,000
4
Q
What was ordinary income
A
Income from day to day life
5
Q
Extraordinary income
A
Income that required parliament
6
Q
How much did Henry make from feudal obligations
A
£8250
7
Q
How much did Henry raise from crown lands
A
£75,000
8
Q
How much did Henry make from bonds and recognisances
A
£10,000
9
Q
How much did Henry make from custom duties
A
£40000
10
Q
How much did Henry make from parliament grants
A
£230,000
11
Q
How much did Henry make from clerical taxes
A
70000
