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:
(Money collected regularly)
- Crown Lands
- Custom Duties
- Feudal Dues
- Profits of Justice
(One-off payment -emergencies)
- Parliamentary grants
- Loans and Benevolences
- Clerical Taxes
- Feudal obligations
- Profits of Foreign Policy
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- Centre of the crown's financial administration
1) Recieve/store/pay out money
2) To audit (inspect/ check) accounts
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- 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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