Henry VII Financial Policy

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Henry VII Financial Policy

AdvantagesGetting Started

  • Bound his noble subjects to him financially so they would not try to corrupt power/rebel.
  • Spent a lot of the money on the court.
  • Determined to improve the countries and the crowns financial background.
  • No need for financial support.
  • Freedom and restore the crowns reputation.
  • Restored financial state of the crown.
  • Got money from nobility (richer people)
  • Not unusual amounts.
  • Helped the country with money.
  • Revenue was not unusual.
  • Used the system better.
  • Wouldn't tax nobles the same amount every time (sometimes less)
  • Son and wife had died- excuse, insecure, grew up without financial experience.
  • Less money than France.

Disadvantages

  • Overcharged people/ may of gone too far as he was obsessed with making money.
  • Feudal Dues were stretched and were very high.
  • Exploited collecting system (Knighthood of dead son)
  • Charged people when they didn't need to be charged.
  • Huge income.
  • Made up reasons to fine nobility.
  • Risky as he alienates people that he relies on.
  • Aware that he had done wrong.
  • 20x more wealthy than the wealthiest noble.
  • Nobles were suffering.
  • Didn't defend himself.

Evaluation

Although Henry sometimes exploited his sources of income such as special feudal dues and loans and benevolence's, Henry was very effective with his financial policy. Not only did he use it for it's main purpose- raising money which he successfully achieved leaving jewels and plate for his heir Henry but he also used it to stop rebellions and corruption. For example he used bonds of recognises to stop Yorkist supporters from rebelling. 

Comments

Anonymous1949

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What is the writer of the above thinking? Do my eyes deceive me or has a supposedly educated person written "may of gone"? 

  • Overcharged people/ may of gone too far as he was obsessed with making money.

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