Financial Reforms HVIII

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  • Created by: Cat Stott
  • Created on: 27-02-17 17:02
Strong financial base would allow Henry to...
Put down unrest, defend himslef from invasion and leave HVIII in a good position
1 of 17
3 ways to do this
Reform financial administration, Exploit ordinary revenue/ extrodinary revenue
2 of 17
Chamber System
Managed crown lands, feudal dues, profits from justice, FP
3 of 17
Change to Chamber System = change to privy chamber
Increased importance of treasurer of the exchquer/gentlemen of the Bedchamber = greater control over finances
4 of 17
Ordinary Rev/Extrodinary Rev
Comes from crown lands, customs and justice and feudal dues / payments for war
5 of 17
Act of Resumption
1486 Act of Resumption: seisure of land from traitors, £29,000 - 42.000
6 of 17
Customs Duties
Failure: smuggling was a big problem, income had dropped for £70,000 under EIV to £40,000
7 of 17
Justice
Gave punishment by fines rather than imprisonment, as he did with the Cornish Rebels
8 of 17
Feudal Dues
Fully exploited marriage and fine of 'relief' - Rose from £350 per year to £6000 1507
9 of 17
Bonds and Recognisances
Written agreements - could either pay off their punishments with money
10 of 17
Parliamentary Taxation
Regular put unpopular and taxation in times of war was excpetional, collection of money based on out of date info = never brougt in what was needed
11 of 17
Wealthy Subjects
Had to repay those he owed (despite £203,000 earned)
12 of 17
Benvolences
Forced loans, had to be paid and showed a sign of loyalty e.g. used in 1491 Expedition BUT could provoke resentment
13 of 17
Church
Would chip in when parliament did e.g. £25,000 towards FE
14 of 17
Church (less justifable methods)
Sold offices, left Bishoprics vacant to earn revenue (£600 per anum) Feudal Aid, done on special occasions e.g. Knighting of Price Arthur
15 of 17
French Pension
£5000 Per anumnn
16 of 17
Evaluation
Brought in a considerable amount but also spent a lot to keep his court in shape - image to foreign leaders was v. important Arguably alienated the nobility (potential revolt) and exploited to the max, French king still had income of £800,000
17 of 17

Other cards in this set

Card 2

Front

3 ways to do this

Back

Reform financial administration, Exploit ordinary revenue/ extrodinary revenue

Card 3

Front

Chamber System

Back

Preview of the front of card 3

Card 4

Front

Change to Chamber System = change to privy chamber

Back

Preview of the front of card 4

Card 5

Front

Ordinary Rev/Extrodinary Rev

Back

Preview of the front of card 5
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