The Success of Henry VII in Improving Royal Finances Essay

The Success of Henry VII in Improving Royal Finances Henry VII was a political realist, he knew he needed a good financial base from which to run the country, but on a more personal note, he also saw the need to create a strong financial situation upon which to secure his reign and dynasty. As Caroline Rodgers states Henry was acutely aware of the importance of strong finances if he was to remain safely on the throne. However, it has often been said of Henry, No man has ascended to the throne with such a lack of financial experience and resources as Henry VII. S. B. Chrimes. How this inexperienced monarch was to stabilise the English economy and finances was a mixture of competent financial†¦show more content†¦As Tony Imperato points out, Medieval feudalism placed the monarch in the position of owner of all the lands in the realm, which he distributed to his nobles in return for their loyalty and service. As their overlord, the King could demand a payment whenever changes took place in landholding arrangements. This paved the way for the exploitation of his nobles in order to gain revenue. There were many means in which he did this. One was the system of wardship, and relief. These were concerned with the passing of land over to the son in a noble family. If the noble holding land died before his son had reached maturity, then the King claimed wardship. This effectively made him guardian of the heir and his lands. When a ward came of age, Henry could demand a livery payment, which was a large sum of money paid to allow the transfer of lands to its new, rightful owner. Similarly, even if the mature son of the noble was to receive the familys estate in due course when his time came, then a relief payment had toShow MoreRelatedTop Bangladeshi Business Icon6532 Words   |  27 Pagesto pay their profits to the moneylenders. His first loan, consisting of US$27.00 from his own pocket, was made to 42 women in the village, who made a net profit of BDT 0.50 (US$0.02) each on the loan. Accumulated through man y loans, this vastly improving Bangladeshs ability to export and import as it did in the past, resulting in a greater form of globalization and economic status. 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