How did Henry VIIs financial policies strengthen the

power of the monarchy?

(30)
Henrys financial policies strengthened the power of the monarchy by
increasing royal revenue from all sources, but most importantly by
reducing the wealth and offices of the nobility. On the one hand, increased
royal revenue from more efficiently run royal lands, the French pension of
1492, parliamentary grants, and exactions from the nobility improved the
power of the monarch, because the more money Henry had, the more he
was able to fit the expectations of Kingship. Exactions from the nobility
reduced over-mighty nobles power, thus increasing the Kings control of
the kingdom; and the threat of financial loss alone, helped ensure good
behaviour from the nobles. On the other hand, many of the nobles felt
alienated by Henrys financial penalties, carried out the Council Learned,
particularly bonds, recognicances, and feudal dues. This led to serious
resentment amongst the nobility, which could have resulted in the Kings
usurpation had he not died in 1509. Furthermore, parliamentary grants led
to two tax rebellions; clearly not strengthening the monarchs power.
Nonetheless, although many financial policies increased resentment
amongst the nobility, and to a lesser extent the commoners, the use of
financial penalties to reduce the power of over-mighty nobles massively
strengthened the monarch; particularly as extorting the nobles provided
Henry with more revenues.
Many might argue that for Henry, money and power went hand in hand as
a means of controlling both the nobility, and the commoners. To control
the nobility, Henry had to make the crown financially secure, so as not to
be too reliant on the assistance of over-mighty nobles, as with Henry VI.
There was also the risk that if the King had to keep requesting grants from
parliament, the commoners would revolt against subsequently high taxes.
Therefore Henry instigated a number of financial policies to increase royal
revenue. For example, many royal lands were made much more efficient
and power was transferred from the Exchequer to the Chamber. This
meant that more money was flowing in from the kings estates, and more
importantly, the transfer of power to the Chamber enabled Henry to take
a very close interest in the running of finance; an increase in the
monarchs power. In addition to this, Henry also took a close interest in
the Council Learned, the brain child of Sir Reginald Bray. The Council
Learned was a very large source of income for Henry; run by lawyers such
as Empson and Dudley amongst others, it exacted a lot of money from the
nobility and gentry. Questionable though it was, types of revenue from the
Council Learned included feudal obligations such as wardship, livery,

relief, escheats, profits of justice, and marriage dues. It also issued Bonds
and recognicances, and inquisitions post mortem. Not only did these
sources of revenue massively reduce many nobles power by reducing
their incomes, but they also provided the King with more revenue, and the
ability to financially cripple any potential rivals. Whats more, the bonds
and recognisances massively reduced the risk of any nobles stepping out
of line for fear of the monetary repercussions; and if they did wrong the
King, the royal revenue thus increased. To sum up then, financial policies
which extorted the nobles were doubly good for strengthening the power
of the monarch, because it lessened the Kings reliance on over mighty
nobles, and increased their obedience to him; the improved finances also
decreased the necessity for requesting parliamentary grants as often,
which could lead to tax rebellions.
One can also point out that a sound financial base allowed Henry to fulfil
his subjects expectations of kingship, improve foreign policy, and provide
financial stability for his dynasty; all of which strengthened the power of
the monarch. The increase in revenue brought in by Henrys financial
policies allowed the King to hold an impressive and grand court,
impressing foreign visitors and improving the kings honour. In regard to
foreign policy, the treaty with Brittany in 1486 was much more trade
focused and commercial than political, with terms were very beneficial to
England. More importantly than Brittany however, was that Henrys
improved finances, meant that in 1492 Henry was able to raise an army
and invade France. In the subsequent Treaty of Etaples, Henry eliminated
French support for Warbeck, and gained Edward IVs pension arrears. Had
Henry not been in a financially stable position, this great success would
have been much less likely, as his hold the crown may well have been in
jeopardy, due to the threat of over-mighty nobles. Lastly, Henry leaving
the crown financially solvent, and his heir with the means to defend
himself from rival claimants, massively strengthened the monarchs
power; throughout previous reigns, Henry VIs in particular, the king was
often unable to fight off rivals due to their being practically as rich as him.
Consequently, it can be said that Henrys financial policies very much
strengthened the monarch, as it provided the means to defend oneself, to
succeed in foreign policy, and the policies themselves prevented any overmighty nobles threatening the King, lest they lose their wealth through
bonds or recognisances, or even acts of attainder.
However, one can also argue that Henrys financial policies actually
weakened the crown, by alienating the nobility. Although Henry had
reduced the number of over-mighty nobles, the fact was that his antinoble policies were breeding anger and resentment; the risk existed that
as with Richard II and Henry Bolingbroke, the nobility would be prepared

to support a deposition. The Council Learned, was diverting the law from
its traditional meaning to extort the nobility; the instigation of feudal
obligations, whilst providing revenue for the King, also deeply angered
many nobles. It wasnt that they objected to justice so much, as that
many court actions were simply extorting them. Feudal dues such as
livery, relief, and ward ship meant that nobles were essentially paying for
their birth rights. Furthermore, the example of Willoughby de Broke family
shows that the Kings trust did not extend to the sons of his trusted inner
circle; Henry used financial policies such as large fines, an act of attainder,
court action with Council learned over inheritance, and lending him
2000, to ensure that Robert Willoughby de Brokes son was financially
dependent on the monarch, yet also making him resentful. To sum up
then, many of Henrys anti-noble financial policies were breeding
resentment towards a greedy monarch; therefore one can argue that the
financial policies were making deposition more likely, thus reducing the
Kings power.
Another way Henrys financial policies reduced the power of the monarch
was the extraordinary form of revenue from parliamentary grants. The
trouble with parliamentary grants was that to many they were almost an
admission of weakness, parliament could impose certain terms on the
King, and the money was usually generated from taxes on the poor; which
could and did lead to tax rebellions. Nonetheless, Henry was compelled to
ask Parliament for a grant in 1487 to finance the Battle of Stoke, in 1489
to pay for a war against the French and in 1496 to defend himself against
the Warbeck Rebellion. Admittedly, these grants enabled the King to take
the fight to his enemies, but they also caused tax rebellions; certainly not
strengthening the monarchs power. The taxes following the 1489 grant,
led to the Yorkshire rebellion, and 1496 grant led to the Cornish rebellion.
Both these risings were the results of the necessary high taxes on the
commoners to pay for Henrys wars; and although they were put down
with relative ease, they indicated that the Kings control over his kingdom
was far from secure. The 1487 and 1489 parliamentary grants were hard
to avoid, without risking usurpation at the hands of rival claimants, though
perhaps Henry could have used more of his own personal finances. In
1489, however the parliamentary grant to defend Brittany could have
been avoided, seeing as Henry failed to defend Brittany on reneging the
Treaty of Redon anyway. Thus it is hard to say that parliamentary grants
either strengthened or reduced the power of the monarch; they were
necessary for the King to defend himself, but they also led to tax
rebellions. Therefore, one would have to say they reduced the power of
the monarch, because the tax rebellions meant the King wasnt in a
secure enough position to ask for such large grants.

In conclusion then, it is evident that Henry very much improved the

financial position of the crown, and in doing so, the power of the monarch.
Primarily, this is because financial policies such as giving the Chamber
more power from the Exchequer and setting up the Council Learned to
help the King enforce feudal dues, gave the King the power to weaken
mighty nobles, and financially cripple any rival claimants. It also meant,
that in conjunction with increased revenue from royal lands, tonnage and
pound, and the French pension of 1492, the King was much richer than
any of his nobles. This meant he was able to fill their expectations of him,
such as being able to raise an army, and holding a grand court. It is true
that many nobles felt alienated by many of Henrys harsher financial
policies through feudal dues, but the fact is that Henry was not usurped
by them; and speculating that it might have happened had Henry lived
longer is silly, as there are any number of possible outcomes. The tax
rebellions did not strengthen the power of the monarch, but without the
parliamentary grants Henry may well have been defeated by either
Richard III or Perkin Warbeck; so the grants were necessary for the King to
defend himself, which also strengthened the power of the monarch. To
sum up then, Henrys financial policies increased the monarchs power,
because the much of the revenue came from the nobles weakening any
potential rivals to the crown, and the increase in both ordinary and
extraordinary revenue, provided Henry with the ability to show good
kingship, take an active part in foreign policy, and place his dynasty on a
stable financial footing.