Henry VII: Finances

The financial decisions that Henry VII made

What book did Henry VII update and what effect did this have?

1) The Book of Rates of Customs Duties

2) Customs duties rose from £33,000 to £40,000 p.a.

Give 4 examples of Henry VII’s ordinary income:

• Feudal dues

• Customs duties

• Crown lands

• Profits of justice

Give 7 examples of Henry VII’s extraordinary income:

• Parliamentary subsidies

• Loans

• Benevolences

• Bonds and recognisances

• Feudal obligations

• Clerical taxes

• The French pension

How much did Henry VII raise in 1485 from loans?

£10,000

How much did Henry VII raise in loans over the course of his reign?

£203,000

How much did Henry’s revenue from wardships and marriages rise p.a. from 1587 to 1507?

1587 = £350 p.a.

1507 = £6,000 p.a.

Give an example of Henry’s income through bonds and recognisances:

Henry received £9,000 and £1,000 p.a. afterwards for the attainder of Sir William Stanley in the Perkin Warbeck Rebellion

Give an example of when Henry practiced ‘simony’:

Henry got £300 for the post of Archdeacon of Buckingham

What rebellions did parlimentary taxes cause?

• The Yorkshire Rebellion (1589)

• The Cornish Rebellion (1597)

How much did the Earl of Westmorland have to pay Henry after the Battle of Bosworth?

£10,000

How much did the Council Learned raise for Henry’s war with Brittany in 1491?

£48,000

How much did Henry raise in feudal dues for Arthur’s knighthood?

£30,000