H7 Finance

Question 1

Crown lands

Answer 1

Large prop of ordinary rev
£12,000 per year at beginning of reign, collected by inefficient court of exchequer
From c1492 administered through the chamber
By end of reign raised to £42,000

Question 2

Prof from feudal dues + royal prerogative

Answer 2

Revenue incr by reviving/ extending medieval feudal dues
Profits from wardship (when prop was held by a minor) incr
Feudal aid (crowns right to impose taxes for certain services) granted in 1504 e.g inheritance tax + inheritance of coat of arms
Dues paid by landowners on death of a feudal tenant-in-chief… incr from £350 in 1485 to £6000 in 1509

Question 3

Customs revenue (tonnage and poundage)

Answer 3

Ab £40,000 a year bc of rise of smuggling… rates on goods coming in and out of eng

Question 4

Legal system and profits of justice

Answer 4

Bonds + recognisances in 1493 ab £3000 from B&R, by 1505 getting ab £35000… Thomas Gray fined £1000
Lord burgavenny fined £70550… 36/62 noble families had

Question 5

Loans and benevolences

Answer 5

Benevolences= forced gift, 1491 threatened ab fr…. Worried about pot of war, gets £48000 just in case
Loans could be borrowed from European bankers

Question 6

Pensions

Answer 6

From other powers
£5000 per year from Fr under t of Etaples
Grants from kings dowry for c of a

Question 7

Overall gov income 1509

Answer 7

£113,000