Royal finance and domestic policies

  • Created by: lucyasnow
  • Created on: 04-01-17 10:44
What were Henry VII's financial aims?
To achieve solvency by increasing his royal income and decrease expenditure restoring the Crown's financial strength
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What could Henry use his wealth to do?
Reward loyal service, bribe potential opponents, fund armies and consolidate the dynasty
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What is ordinary revenue?
The regular income that the crown could rely onto finance the cost of the monarchy
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What are the main sources of ordinary revenue?
Crown lands, custom duties, feudal dues and the Legal system and profits of justice
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How did Henry gain money from the legal system and profits of justice?
He ensured that most criminal acts were punished by fines rather than by imprisonment or execution
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What lands did the crown lands include?
Earldoms of Richmond, March and Warwick, the Duchy of Lancaster and the Principality of Wales
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What was extraordinary revenue?
The money that came to the Crown on particular occasions and had no regularity
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What were the six sources of extraordinary revenue?
Bonds and recognisances, Clerical taxes, feudal obligations, French pension, Loans and benevolences and parliamnetary grants
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What were bonds and recognisances?
Subjects would pay a sum of money to the crown as a guarantee of their good behaviour
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How much did the bonds and recognisances receipts ride by?
From £3,000 in 1493 to £35,000 in 1505
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What were parliamentary grants?
Raised by means of taxes on moveable property called 'fifteenths' and 'tenths'
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how did parliamentary grants benefit the Crown?
They helped pay for the Battle of Stoke that marked the defeat of the Yorkists and the French campaign
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How was French pension used?
The King of France promised to pay Henry £159,000 in annual instalments of £5,000 (Treaty of Etaples)
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There were three main concerns for Henry in his domestic policies, what were they?
Nobility, the church and law and order
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How did Henry control the nobility?
By issuing attainders, banning retaining and rewarding good behaviour
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What did Henry do to co-operate with the church?
The Pope supported Henry. Henry offered his patronage and protection to the church
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How did Henry try to maintain law and order?
By using agents of central government. Justices of the peace and Sheriffs who were supported by noble governors
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Other cards in this set

Card 2

Front

What could Henry use his wealth to do?

Back

Reward loyal service, bribe potential opponents, fund armies and consolidate the dynasty

Card 3

Front

What is ordinary revenue?

Back

Preview of the front of card 3

Card 4

Front

What are the main sources of ordinary revenue?

Back

Preview of the front of card 4

Card 5

Front

How did Henry gain money from the legal system and profits of justice?

Back

Preview of the front of card 5
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