Henry VII and Revenue
- Created by: bethfrench99
- Created on: 07-10-15 15:47
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- How did Henry VII raise revenue?
- Astute appointments
- Members of the clergy could buy Church positions off of Henry for a sum.
- Exploiting extraordinary revenue for specific purposes
- For special occasions such as marriages, coronation, Royal Progress and knighting of princes, money could be raised. Through marriage of Margaret, his eldest daughter, and Prince Arthur's knighting, Henry raised £30,000.
- Henry could raise a taxation for war or to put down rebellions. An example of this is the Battle of Stoke and the Cornish rebellion.
- In the Treaty of Etaples, the French paid Henry a large initial sum for the removal of English troops and an annual pension of £5,000
- Through bonds and recognisances, Henry could gain money from disloyal nobles. In 1493, Henry was collecting £3,000 p/a. This went up in 1505 to £35,000 p/a.
- Extracting money from nobility
- Through bonds and recognisances
- Through bonds and recognisances, Henry could gain money from disloyal nobles. In 1493, Henry was collecting £3,000 p/a. This went up in 1505 to £35,000 p/a.
- Wardships
- Through feudal dues i.e. wardships, rents, arranging marriages, Henry could achieve a profit for himself.
- Through bonds and recognisances
- Foreign policy
- Treaty of Etaples with France
- In the Treaty of Etaples, the French paid Henry a large initial sum for the removal of English troops and an annual pension of £5,000
- Intercursus Magnus with Burgundy increased trade between the two states, increasing custom dues.
- Treaty Medina del Campo brought with it a dowry of 200,000 crowns for Prince Arthur from Catherine of Aragon
- Treaty of Etaples with France
- Revenue from Church
- Henry sold church positions and managed to accumulate revenue through this.
- Henry also left empty bishoprics empty so he could collect the money from these positions. He usually did this for a period of twelve months before filling the position.
- When receiving a grant from Parliament, the Church normally gave a grant to go alongside it.
- Exploiting ordinary revenue more effectively
- By using the Chamber and effective treasurers more than the Exchequer, Henry's revenue from the Crown lands increased from £12,000 to £42,000. He also increased his land through Acts of Attainder and Resumption. Peerages that became extinct also had their lands passed over to the king, increasing his profits.
- By exploiting profits of justice, Henry managed to increase revenue. Fines for pardons and other such things to do with judicial matters were given to Henry.
- Through custom dues, Henry managed to raise £40,000 p/a by the end of his reign. He did this by continuing Edward IV's work to stamp out embezzlement.
- Through feudal dues i.e. wardships, rents, arranging marriages, Henry could achieve a profit for himself.
- Astute appointments
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