Henry 7 finance

• income from crown lands rose from £29,000 to £42,000 in 1509
• 1486 act of resumption taking back lands given as rewards from previous kings
• acts of attainder was the seizure of lands by those declared traiters; 138 given out
• Henry often punished by fines and not imprisonment
• Exploitation of feudal dues: income rose from £350/ year to £6000 in 1507
• bonds and recognisances exploited: used on 36/62 noble families
• looked for money from parliamnent but only in circumstances
• had £203,000 of loans in his reign
• subsidy of 1495 raised £100,000
• benevolences used e.g., in 1491 to raise money for expedition in France £48,500
• Henry sold church offices, which left bishoprics vacant but made £6000 in revenue a year
• the knighting of prince Arthur = £30,000 or marriage of daughter to the king of Scotland
• French pension made total of £5000/ year and 5% of annual income
• income from custom duties had dropped from £70,000/ year to £40,000 (smuggling was a problem and foreign relation was sticky)
• of all the 183 acts of attainders, 46 were reversed
• when asking for money from parliament he used an out of date assessment so could not bring in as much wealth
• loans of £203,000 to be paid back
• benevolences could not be used regularly as caused resentment
• henry made the most out of what was available to him
• Henry regarded as rapacious (greedy)
• lent money to Phillip of Burgundy and Maximillian to support
• alienated nobility by ways of raising money
• crown income rose to £113,000/ year yet French was £800,000/ year in comparison
• spent lots on lavish courts to boost position
• Henry created 3 new earls; Edward 4 created 9
• used 'the carrot' and 'the stick' to control (inducements and sanctions)
• abandoned rewarding nobles through grants of land: created overmighty subjects and diminished the wealth of the crown