royal finances and their administration Flashcards
What was the role of the exchequer
receive and pay money and audit accounts
try and stop fraud
Why was it inefficient? exchequer
slow and corrupt
what replaced exchequer?
chamber
what were the advantages of the chamber
- Made up of experts
- Gave henry more control over finances
- increased revenue to £100000
- led to the formation of the privy chamber
What made up Henry’s ordinary revenue
Crown lands
Customs
Justice
Feudal dues
Crown lands
what did it increase?
what did it do for nobility?
- x5 income through 1486 act of resumption
- £29000-£42000 in 1509
- didn’t anger nobility by taking all the land
Customs
what did it decrease from?
what was an issue?
- Decreased from£70000-£40000
- smuggling an issue
- trade dependent on int. relations
Justice
what did it do?
what changed?
who was fined?
exploited the system-charged people just to fine them
- fines rather than imprisonment
- Earl of Northumberland fined £10000 for raping royal ward
Feudal dues
how many in 1507?
Feudal dues
- £350-£6000 in 1507
- exploited this as well as bonds and recognisances
What made up Henry’s extraordinary revenue
French pension feudal aid Church Parlimentary taxation Loans
French pension
Treaty of etaples 1492= £5000/yr
feudal aid
levied on special occasions such as the knighting of prince arthur costing £30000
Church
- granted king £25000 for 1489 french expidition
- sold church offices or leaving them empty to claim £6000 in revenue
parlimentary taxation
- not used too much as led to rebellion
- only used in exceptional circumstances e.g. warbeck
- used out of date data so didnt bring in as much as it should have
Loans
- Brought £23000 but had to repay
- Benevolances not repaid in times of crisis e.g. 1491 french expidition
- effective but not used so much as led to resentment
