Henry Vi Economic Policy Flashcards
(10 cards)
What was the annual royal income by the 1450s?
The annual royal income had decreased to £33,000, a significant drop from £55,000–£60,000 during Henry V’s reign.
What was the Crown’s debt during Henry VI’s reign?
The Crown’s debt surpassed £370,000, primarily due to excessive military expenditures in France and inadequate debt repayment strategies.
What contributed to the decline in trade during Henry VI’s reign?
The collapse of wool exports, exacerbated by piracy and the loss of Normandy, led to reduced customs revenue.
What issues did Parliament have regarding taxation?
Parliament repeatedly refused taxation requests, citing corruption and military failures.
How was land mismanagement a weakness during Henry VI’s reign?
Crown lands were poorly managed, with key estates granted to favourites like Somerset, undermining long-term revenue.
What was the abuse of purveyance?
Royal officials compelled localities to supply the court at unfair prices, causing unrest.
What was perceived as delusional extravagance during Henry VI’s reign?
Funding educational institutions like Eton and King’s College during times of war and economic collapse was seen as delusional extravagance.
What limited strength did Henry VI’s reign have?
Some merchants remained loyal, especially before 1459.
How did the Minority Council manage finances during Henry VI’s reign?
During Henry’s minority, the council managed finances more effectively before Queen Margaret’s influence grew.
What was the overall verdict on Henry VI’s reign?
Henry VI’s reign witnessed the worst financial collapse of the late medieval English monarchy, directly contributing to civil war and regime instability.
