Henry VII - Finances

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Was he greedy of just ruthlessly efficient?

  • Seen as a greedy miser with money.
  • Made use of 'at his disposal' to improve his financial position.
  • Obsessed with making money.
  • Ensured continuation of strong and stable government
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Why might he be so determined to build funds?

  • Poor years in exile
  • Death of his wife (Elizabeth) and son (Authur)
  • The security of his dynasty at risk
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Beginning of HVII reign - Financially

  • He was in  financial weak position.
  • Money needed to meet the government's expense.
  • He had no exerience of managing estate in exile.
  • After Bosworth - loans needed topay for coronation and marriage.
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The Royal Finance was split into:

Ordinary Revenue 

(Money collected regularly)

  • Crown Lands
  • Custom Duties
  • Feudal Dues
  • Profits of Justice

Extraordinary Revenue

(One-off payment -emergencies)

  • Parliamentary grants
  • Loans and Benevolences
  • Clerical Taxes
  • Feudal obligations
  • Profits of Foreign Policy
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The Exchequer

  • Centre of the crown's financial administration

2 Fuctions

1) Recieve/store/pay out money

2) To audit (inspect/ check) accounts

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The Chamber

  • Was a more informal set-up than The Exchequer.
  • Was relatively new institution.


  • Orginally was to take care of kings private expenditure.
  • 1490s it became the centre of most royal finance collections.
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Henry VII and Exchequer and Chamber

  • Exchequer: He allowed the exchequer to continue to royal finances
  • Chamber: 1487- HVII started restoring the chamber system to centre of Royal finances.
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