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Flashcards in Henry VII Improving Royal Finances Deck (12)
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1
Q

What were some of the sources of royal income?

A

Crown lands
Extraordinary revenue
Pensions from other powers

2
Q

What was a very important part of the crowns ordinary revenue?

A

The rental income from Henry’s property

3
Q

Where had Henry’s reign income dropped to at the beginning of his reign?

A

About £12000 per year

4
Q

What caused Henry’s reign income to drop at the start of his reign?

A

The income from lands was collected and administered through the inefficient court of exchequer

5
Q

What system of administration did Henry revert to in 1492?

A

Edwards system of administration through the chamber where policies were formulated and decisions made

6
Q

What happened to income from land after Henry reverted to Edwards system of administration?

A

Increased to £42000 per year

7
Q

In what way was the pursuit of the kings feudal rights tightened?

A

Increased profits from ward ship
Parliament granted a feudal aid in 1504
Obligations payable on the death of a feudal tenant in chief

8
Q

How was customs revenue used?

A

Tonnage and poundage had been granted for life by Henry’s first parliament

9
Q

How were pensions from other powers used?

A

Treaty of etaples in 1492: French paid Henry £5000 per annum

10
Q

How was profits of justice used?

A

Included fines and income from bonds

11
Q

How was extraordinary revenue used?

A

Henry got over £400,000 from extraordinary taxation
Raising this revenue provoked rebellions in 1489 and 1497
In 1504 Henry had to promise parliament not to raise any more money by this method

12
Q

How were landowners victims of Henry’s policies?

A

Statute of uses of 1489: prevented avoiding paying tax on a dead persons estate