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HVII METHODS TO IMPROVE CROWN FINANCES - Coggle Diagram
HVII METHODS TO IMPROVE CROWN FINANCES
HVII CHARACTER
had a keen financial mind and took a personal interest in the day-to-day running of the kingdom
began by observing inefficiencies in state departments, then made more decisions himself
to some historians HVII was a hoarder, but he had to be realistic given the depleted crown income at the start of his reign
ORDINARY
Crown lands
inherited through attainders
Act of Resumption 1486
feudal dues
wardship
livery
relief
legal dues
attainders and fines from court appearances
customs duties
HVII promoted this income
EXTRAORDINARY
Bonds and recognisances
loans and benevolences
emergency funds from institutions
french pension
parliamentary taxes
unpopular e.g. Yorkshire and Cornwall - HVII avoided where possible
clerical taxes
clergy exempt from taxation but not from 'gifts' to Crown
CONCLUSION
HVII's efficient methods of accumulating wealth were 'normal' until 1502/1503 with deaths of Arthur and Elizabeth of York - then began to obsess over gaining wealth for the kingdom
HVII needed wealth to ensure loyalty, bribe opponents and consolidate dynasty by maintaining security
HVII financial measures sowed fear into much of the population