Royal finance and domestic policies
- Created by: Alicia18
- Created on: 19-12-16 12:20
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- Royal finance and domestic policies
- Royal Finance
- H7 financial aims were quite simple to achieve solvency by increasing royal income
- H7 did not feel secure unless he was rich
- Reward loyal service
- Bribe potential opponents
- fund armies
- Consolidate the dynasty: a full treasury would provide his heir
- H7 did not feel secure unless he was rich
- H7 financial aims were quite simple to achieve solvency by increasing royal income
- Ordinary Revenue
- Ordinary revenue was the regular income on which the Crown could rely to finance the costs of monarchy
- Crown lands consisted of inherited lands that included:
- Earldoms of Richmond
- March and Warwick
- the Duchy of Lancaster
- Principality of Wales
- Crown lands increased from £29,000 in 1485 to £42,000 in 1509
- Custom duties provided a third of the Crown's ordinary revenue
- The average annual receipts rose from £33,000 to around £40,000
- Feudal dues: in 1487 the annual proceeds from feudal such as wardship and marriage
- £350,000, but by 1507 this had risen to £6,000
- Legal system and profits of justice: Henry ensured the most criminal acts
- including treason, were punished by fines rather than by imprisonment or execution
- Crown lands consisted of inherited lands that included:
- Ordinary revenue was the regular income on which the Crown could rely to finance the costs of monarchy
- Extraordinary Revenue
- Extraordinary revenue was money that came to the Crown on particular occasions
- Bonds and recognisances: the practices of subjects paying a sum of money
- Clerical taxes: grants made by Convocation,
- such as the £25,000 towards the cost of the french campaign of 1491-92
- Feudal obligations: the right to levy such obligations
- as distraint of knighthood or to demand payment for special occasions
- Such as marriage as of his eldest daughter
- French pension: the king of France promised (Treaty of Etaples, 1492)
- to pay Henry £159,000 in annual instalments of £5,000
- Loans and benevolences: requests made to his landholding subjects for financial support
- even though they were traditionally in the form of 'agreements'
- Extraordinary revenue was money that came to the Crown on particular occasions
- Domstic Policies
- Henry's financial administration underpinned and supported his other domestic policies
- Nobility: Controlled the nobility by issuing attainders, curbing retaining and rewarding good service
- Church: Henry offered the church his patronage and protection
- Law and order: agents of central government such as JPs and sheriffs, supported by trusted noble governors
- Henry's financial administration underpinned and supported his other domestic policies
- Royal Finance
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