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How Did Henry Vii Influence The Royal Government

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Throughout his reign, Henry VII attempted and was partially successful in strengthening royal finances. He aimed to have a stronger financial base that would give him power and strength if there was a rebellion, and also to create a stable treasury for his dynasty. Henry was a rapacious and miserly character who went to many lengths in order to increase the annual income of the royals, so that they could be comparable to that of France and Spain who at the time were making a significant amount more than England. When Henry came to the throne he realised the limitations of the Exchequer to administrate crown finances and began to restore the use of the Chamber system. He was able to strengthen royal finances by implementing methods of Ordinary …show more content…

It was used to pay for English defences, notably the Calais Garrison and they were the second biggest source of income. In Henrys favour, there was a natural increase because of an increase in the cloth trade, but a pacific foreign policy helped Henry encourage trade and enforce stricter rules on piracy. Henry demanded more paperwork, chased out corrupt officials and prosecuted more merchants for fraud to increase the yearly income. He also changed his foreign policy to encourage trade between countries which increased trade and imports thus boosting the economy. However, during Edward IV’s reign, custom duties brought in around £70,000 per annum but the average income from custom duties in Henrys reign had decreased to an average of £40,000 per annum due to the decline in the export of wool. Although Henry tried to imitate Edward’s methods, a major problem was smuggling and the income from trade relied on upon the relationships between European powers, which Henry could not control. Also, the income from customs increased modestly and quite slowly; it increased from £34,000 a year to about £40,000 so it did not dramatically or significantly affect the yearly income. Therefore, it was not a successful method in strengthening royal services because he was not able to increase or secure any finances from custom duties and it did not give him any power or more strength, which weakened the economy at the

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