Henry VII: Finance
- Created by: georgiaivybridge
- Created on: 16-12-15 14:58
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- Henry VII-Finance
- Royal Finance
- Aims
- Achieve solvency by increasing royal income
- Decreasing expenditure
- Restoring the Crown's financial strength
- Henry did not feel secure unless he was rich
- Financial administration was ruthlessly efficient.
- Used his wealth to...
- Reward loyal service.
- Bribe potential opponents
- Fund armies
- Consolidate the dynasty
- Aims
- Ordinary Revenue
- Regular income which the Crown could reply on
- Crown Lands
- Increased from £29,000 (1485) to £42,000 (1509)
- Consisted of inherited
- Customs Duties
- Provides 1/3 of the Crown's ordinary revenue
- Increased from £33,000 to around £40,000
- Feudal Dues
- Wardship and Marriage
- Increased from £350 (1487) to £6,000 (1507)
- Legal System and Profits of Justice
- Punished by fines rather than imprisonment or execution
- Extraordinary Revenue
- Came to the Crown on particular occasions
- Bonds and Recognisances
- Increased from £3,000 (1493) to £35,000 (1505)
- Clerical Taxes
- Grants made by Convocation
- £25,000 towards the cost of the French campaign of 1491-92
- Feudal Obligations
- The right to levy such obligations as distrait of knighthood
- Demand payment for special payments
- French Pension
- £159,000 to be paid in annual installments of £5,000
- Treaty of Etaples (1492)
- £159,000 to be paid in annual installments of £5,000
- Loans and Benevolences
- Made requests to his landholding subjects for financial support
- Parliamentary Grants
- Means of taxes
- Helped pay for the Battle of Stoke
- Marked the defeat of the Yorkists
- Helped with the French Campaign
- Royal Finance
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