Economy Flashcards
Who was the largest land owner in Tudor England
Henry himself
What was important about the income from crown lands
It was regular
What did an inefficient court of the exchequer lead to
Henry’s early income dropping to £12,000 a year
By the end of his reign, how much a year was Henry getting from crown lands
£42,000
Who were some effective treasurers
Sir Thomas Lovell and Sir John Heron
What is wardship
Enabled the crown to gain profits from property held by minors
When did parliament grant feudal aid
1504
What is feudal aid
The right of the Crown to impose a tax on tenants for the knighting of the eldest son, the marriage of the eldest daughter or to ransom a lord
What is the statute of uses
A law passed to prevent landed property from being turned into trusts which, in modern terms, were mechanisms for avoiding paying tax on a deceased person’s estate
What did customs revenue increase by
£34,000 to £38,000
Why did customs revenue increase
Due to the granting of tonnage and poundage for life
How much were England to receive from France yearly form the Treaty of Etaples
£5000
What are profits of justice
Fines and income from bonds
How much was promised to Henry from profits of justice
£200,000 not all collected however
What year did Henry say he would not raise money through extraordinary revenue anymore
1504
