Henry VII - Finances

HideShow resource information

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
1 of 7

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
2 of 7

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.
3 of 7

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
4 of 7

The Exchequer

  • Centre of the crown's financial administration

2 Fuctions

1) Recieve/store/pay out money

2) To audit (inspect/ check) accounts

5 of 7

The Chamber

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

Function

  • Orginally was to take care of kings private expenditure.
  • 1490s it became the centre of most royal finance collections.
6 of 7

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.
7 of 7

Comments

No comments have yet been made

Similar History resources:

See all History resources »See all British monarchy - Tudors and Stuarts resources »