Finances under Henry, Edward and Mary
- Created by: eleanorfarnold
- Created on: 31-12-14 13:02
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- Finances in Henry, Edward and Mary
- Henry
- Debasement. 1550. massive inflation, gold and silver content of money falls
- War
- money spent on unneeded fortifications
- Battle of Solway Moss (1542) - helped F/S relations. Proved Henry's pride comes b4 financial security...
- France- cost £2mill. raised from loans and subsidies. Only gained Boulogne
- Cromwell helped finance evolve by delegating to trained men and councils. Henry undermined this w/ French wars...
- War vs. Scotland £2,100,000 + loans and selling of crown lands. £1,173, 755 debt
- Somerset further crippled Economy
- Garrisoned troops on Scottish Border. cost £351,000
- continues debasement. Afraid of retaliation if increased taxes.
- spiralling inflation. V unpopular
- debasement must end
- last debasment= 1551. too scared to replace coinage.
- 1551 Antwerp Market crash (inflation)
- continues debasement. Afraid of retaliation if increased taxes.
- spiralling inflation. V unpopular
- debasement must end
- last debasment= 1551. too scared to replace coinage.
- 1551 Antwerp Market crash (inflation)
- last debasment= 1551. too scared to replace coinage.
- last debasment= 1551. too scared to replace coinage.
- Enclosure laws (reintroduced previous legislation) and Vagrancy acts (housing for deserving poor/ slavery act). aim to help poor. undermined by other failures.
- raised hopes - then crushed them
- rising price of grain. poor harvest1549. fear in gentry.
- Enclosure laws (reintroduced previous legislation) and Vagrancy acts (housing for deserving poor/ slavery act). aim to help poor. undermined by other failures.
- raised hopes - then crushed them
- Enclosure laws (reintroduced previous legislation) and Vagrancy acts (housing for deserving poor/ slavery act). aim to help poor. undermined by other failures.
- Somerset further crippled Economy
- War vs. Scotland £2,100,000 + loans and selling of crown lands. £1,173, 755 debt
- Before 1536 funds go straight to exchequer. Slow and Innefficient. Cromwell creates councils to deal with this.
- 1536 - Court of Augmentations - deals with Monastatic poperty and revenue
- 1554 = office of Augmentations (as part of Xchequer)
- Court of General Surveyors (under Wolsey)
- 1540 - Court of Wards - Y from wardships to crown (prevent corruption)
- 1541 - court of Fruits and Tenths
- 1542 - Court of General Surveyors
- 1536 - Court of Augmentations - deals with Monastatic poperty and revenue
- Could government finance itself?
- No! the division between private and public costs and war meant taxes needed.
- Edward
- Somerset further crippled Economy
- Garrisoned troops on Scottish Border. cost £351,000
- rising price of grain. poor harvest1549. fear in gentry.
- Northumberland tried to rectify somerset's mistakes with clear strategy
- King's income= expenditure
- Boullogne returned (£133,333 and garrisons ended
- commissions
- winchester = stricter methods
- emergency hh funds.
- forced compromise to keep support. i.e. selling lands
- continued selling church and chantrylands
- Boullogne returned (£133,333 and garrisons ended
- King's debts paid
- continued selling church and chantrylands
- parliament taxes
- calling in debts
- Thomas Gresham. manip change of sterling to pay of debts to antwerp.
- paid all debts + loans at 12% IR
- almost half debt. £300,000 - £180,000
- King's debts paid
- parliament taxes
- calling in debts
- Thomas Gresham. manip change of sterling to pay of debts to antwerp.
- paid all debts + loans at 12% IR
- almost half debt. £300,000 - £180,000
- King's debts paid
- long term position less secure
- King's income= expenditure
- Somerset further crippled Economy
- Mary
- calais
- loss of trade
- robert titler = exaggerated cos of long term decline of markets
- just anotherexp. frontier to defend
- Marriage to Phillip = power but responsibilities...
- troops to Neds
- war on france 1557
- more money on Phillip then own FP objectives
- refunding monasteries= exp. but money in lay hands...
- economy in ruins when Elizabetb ascended
- calais
- best when leaders delegate. Henry's example = difficult to rectify.
- Henry
- Henry
- Debasement. 1550. massive inflation, gold and silver content of money falls
- War
- money spent on unneeded fortifications
- Battle of Solway Moss (1542) - helped F/S relations. Proved Henry's pride comes b4 financial security...
- France- cost £2mill. raised from loans and subsidies. Only gained Boulogne
- Cromwell helped finance evolve by delegating to trained men and councils. Henry undermined this w/ French wars...
- War vs. Scotland £2,100,000 + loans and selling of crown lands. £1,173, 755 debt
- War vs. Scotland £2,100,000 + loans and selling of crown lands. £1,173, 755 debt
- Before 1536 funds go straight to exchequer. Slow and Innefficient. Cromwell creates councils to deal with this.
- 1536 - Court of Augmentations - deals with Monastatic poperty and revenue
- 1554 = office of Augmentations (as part of Xchequer)
- Court of General Surveyors (under Wolsey)
- 1540 - Court of Wards - Y from wardships to crown (prevent corruption)
- 1541 - court of Fruits and Tenths
- 1542 - Court of General Surveyors
- 1536 - Court of Augmentations - deals with Monastatic poperty and revenue
- Could government finance itself?
- No! the division between private and public costs and war meant taxes needed.
- Marriage to Phillip = power but responsibilities...
- troops to Neds
- war on france 1557
- more money on Phillip then own FP objectives
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