System of finance

Question 1

What is ordinary revenue

Answer 1

Predictable money for example crown lands, custom duties or feudal dues

Question 2

What is extraordinary revenue

Answer 2

Unpredictable i.e parliamentary grants selling offices or bonds and recognisances

Question 3

What system had Henry changed to for crown lands

Answer 3

The system edward IV had used which was administering the crown courts through the chamber part of the royal household

Question 4

By 1509 what did the income of the crown lands reach

Answer 4

£42000 a year

Question 5

What were custom duties

Answer 5

Through tonnage and poundage which increased from £34000 to £38000

Question 6

What are examples of feudal dues?

Answer 6

Relief, marriage, wardship and livery

Question 7

Who was the master of the kings wards 1503

Answer 7

Sir John hussey

Question 8

Parliamentary grants, what was the main form of taxation?

Answer 8

Fifteenths and tenths it allowed Henry to collect £29,500 each time

Question 9

Bribes

Answer 9

Smaller roles ie clerks was between £18 to £26 per role
prominent positions i.e Chief Justice of the court of common pleas sold at £333 twice