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Royal Finance Under Henry Vii

In: Historical Events

Submitted By karinaormn
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When looking at the royal finance under Henry VII we observe how powerful he was and the fact that he created a strong financial situation upon which to secure his reign and dynasty. In this essay I will compare the two sources regarding the financial situation during Henry’s reign. Extract A seems to be more valuable because we know that he invested all his money in jewelry and plate in order to secure his money.

According to the Extract A, Henry reinvested much of the money because he wanted to secure his reign. After his death, there were found many accounts of his leaving jewel plate. This is very valuable because we know that he had a lot of money. On the other side, all his money was spent by Henry VIII during the war; this questions the value of his finance. We also must consider that Henry started in debt and that he balanced his account by 1492, showing a sizeable surplus from 1497 onwards, he also made big loans to other rulers and small ones to merchants. His surplus was far from sizeable and the loans were made only to other rulers with the condition that the dynasty is under control and secure. He wanted to prevent a crash of his economy and tried to do things in such a way that nothing could affect his dynasty. However, his achievement should not be considered too impressive. Because, how it was mentioned, it took only two years for Henry VIII to dissolve everything what Henry VII left behind him.
Another way in which we can question his royal finance is the Extract B were it says that he was desperate to get money, using almost all the available means of extracting money like forced loans or the purchasing of office. What totally disapproves the Extract A is the fact that in Extract B it is written that Henry had been forced to borrow money. This doesn’t necessarily imply financial incompetence as he had invested much of his money. However he only...

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