Henry VII - Finances 0.0 / 5 ? HistoryBritish monarchy - Tudors and StuartsA2/A-levelAQA Created by: Hannah.pitts13Created on: 13-05-16 17:29 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
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