Henry VII Financial policies question

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  • Henry VII's financial policies were the most important reason for the success of his rule
    • Financial policies
      • Parliamentary grants
        • Requested parliamentary assistance in 1487, 1489, 1496
          • Increased taxes
      • Crown lands
        • Took control of all lands belonging to members of the House of York
        • When a landowner dies, land is given to the king
          • Escheats
      • Customs duties
        • provided a 1/3 of royal revenue
        • reduced some privileges of foreign merchants (immunity from English taxation)
      • Feudal dues
        • enforced rights of feudal dues to max
      • Clerical taxes
        • Simony
          • Selling Ecclesiastical property or goods
        • received money from the church
      • Bonds and Recognisance
        • Forced members of the nobility into B&R
          • to guarantee good behaviour
        • Bonds (written obligations)
        • Recognisance
      • Privy chamber
        • Gave Henry closer control of the country's Finance admin
        • Importance members: Empson and Dudley
      • Feudal obligations and Foreign pensions
        • Treaty of Etaples pension
        • Henry could demand payments from his subjects
          • exploited this
      • Loans and Benevolances
        • 1496 - appealed to landowners for financial support
          • asked for sums of 10,000
        • 1491 raised a forced loan (Breton crisis)
    • Consolidation of Power
      • First parliament
        • Made Ed V illegitimate
        • Declaration of King's title
        • Dated start of reign, day before battle of Bosworth
          • To not be accused of usurping the throne
          • able to accuse RIII supports of treason and arrest them
      • Coronation
        • wore purple - symbolises royalty
        • Crowned by the Archbishop of Canterbury
        • display of kingship to the people
        • 30 October 1485
      • Propaganda
        • Tudor Rose - symbolic (end to the WOTR)
        • Named first son after King Arthur, defender of the English
        • Beaufort portcullis in HVII chapel in WA
      • Marriage to Elizabeth of York
        • United the two houses of the WOTF
        • EoY - the peoples princess
        • Helped to secure/ strengthen his claim to the throne
    • Foreign policy and recognition of foreign powers
      • Spain
        • Treaty of Medina Del Campo, 1487
        • Trade relations established (reduced tariffs)
        • Marriage between Prince Arthur and Catherine of Aragon
        • Promised not to harbour any pretenders
      • France
        • Failed campaign in Brittany (Breton crisis)
        • Treaty of Etaples 1492 was the outcome of the war
        • France would pay a pension of £142,000 to Henry
          • increased crown finances
            • country financially secure
      • Scotland
        • Treaty of Perpetual peace, 1502
          • Marriage between Princess Margaret and James VI
        • Truce of Ayton, 1497
      • Trade
        • Intercursus Magnus, 1496
          • Free trade for English traders
          • Trade in Netherlands and Burgandy (exclu. Flanders)
          • Stable trade
    • Argument: financial policies were important aspect but not possible without consolidation of power or foreign policy
    • Response to rebellions and pretenders
      • Lovell and Stafford Rebellion, 1486
        • soon collapsed
      • Yorkshire Rebellion
        • Quickly put down by army, under Earl of Surrey
        • Result of taxation for French wars
        • issued pardons to maintain peace
      • Cornish Rebellion
        • Easy to put down as rebellion was practically leaderless
        • Battle of Blackheath - 1,000 rebels killed
      • Lambert Simnel
        • Battle of Stoke, 1487 - last war of the WOTR
        • Henry had the real Earl of Warwick in the TOL
          • later executed in 1499
      • Perkin Warbeck
        • Used trade treaties to reduce support for Warbeck
          • countries promised not to harbour pretenders
        • More difficult, as no prove he wasn't Richard of York
        • Truce of Atyon with Scotland in 1497
          • Warbeck expelled from scotland
            • Became HVII prisoner
              • executed in 1499

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