Authors: G. J. Meyer
Nor is he likely to have wanted to give much thought to the subject of money. No ruler in the history of England had reaped a bounty of gold to compare with Henry’s, and yet somehow it had all ended with the economy of the kingdom in a parlous state and its government virtually bankrupt. And there had been absolutely no reason why things
had
to end up this way: it had all been Henry’s doing, and he had done it for no better reason than the satisfaction of his own appetites and the demands of his swollen ego. The floodgates had opened wide in the aftermath of the Pilgrimage of Grace, when the campaign began to bully and bribe the inhabitants of the larger religious houses into surrendering their lands and possessions (and to kill them when neither bullying nor bribery would suffice). The climax of that campaign came in May 1539 with Parliament’s passage of the Second Act of Dissolution, which declared all the church property confiscated since 1536 (when the smaller houses were condemned) and all the church property to be confiscated in the future to be lawfully the property of the Crown. This statute remedied an awkward legal flaw in the surrenders signed by the leaders of the larger houses: those leaders were not the owners of the monasteries
they headed and had no right to give them away. It speeded the completion of the greatest redistribution of English land and wealth since the Norman Conquest in 1066. The whole suppression worked to the direct and immediate advantage of the king, who rather abruptly became richer than any other monarch in Christendom. By the spring of 1540 not a single monastic establishment remained in existence in England or Wales. Hundreds if not thousands of the monks and nuns expelled from them had become itinerant beggars, wandering from village to village in search of work or charity. The number of England’s schools, hospitals, and institutions for the care of the aged and indigent had undergone an abrupt collapse from which it would not recover for centuries.
At the same time that all this was happening, Henry ordered the destruction of the shrines that had long been objects of veneration and destinations for pilgrims not only from England but the whole Christian world. The most famous of these was the fabulous tomb of Thomas Becket at Canterbury Cathedral, where for many generations wealthy visitors had been leaving offerings of jewels, gold, and silver. It was targeted for liquidation not only because of the immense treasure it contained (a treasure that had itself become a kind of tourist attraction, visible behind iron bars) but also because the man it honored had been murdered for defending the liberties of the church in defiance of an earlier King Henry. A farce was played out in which an order was issued for Becket, who had been dead for 370 years, to appear in court and face charges of rebellion and treason. When after thirty days he had not appeared, a trial was held at which the saint was represented by counsel appointed by the king and, upon being found guilty, was sentenced to have his bones burned and scattered. Not coincidentally, the court ordered also that the treasures of Becket’s tomb should go to the Crown. The valuables hauled away from the tomb filled twenty-four wagons—this in addition to two chests so laden with precious gems that “six or eight strong men could do no more than convey one of them.” Similar if less awesome troves were gathered up elsewhere. Particularly disgraceful was what happened at Winchester, where, in the course of looting the ancient shrine of St. Cuthbert, the king’s agents broke open the coffin and scattered the bones of the most heroic figure in all of English history,
the only English king ever to be called “the Great,” the ninth century’s genuinely courageous, good, and wise Alfred, King of Wessex. The loot from all these tombs went of course into the royal treasury.
Quite apart from the colossal sums that flowed into the king’s coffers from the shrines, and ultimately dwarfing them, was the £140,000 in rent generated annually by the monastic lands that now came into the king’s possession. Parliament, in being asked (“instructed” would be a better word) to approve Henry’s appropriation of possibly as much as five percent of all the rental income in the kingdom, was told that this would make wondrous things possible. The king would be able to rule—even to wage war—without ever having to levy taxes. He would be able to expand the ranks of the nobility (an exciting thought for wealthy and ambitious families), increase spending on education, and advance religion by creating and endowing eighteen new bishoprics. This was Cromwell’s great plan: to make the Crown financially independent and Parliament very nearly irrelevant. If carried out, it could have changed English history by giving future kings an endowment sufficient to support all the operations of their governments for any number of generations.
Nothing of the kind came to pass. Instead Henry ran through his windfall with a speed that defies belief. Almost as soon as the church lands fell into his hands he began selling them, in some cases even giving them away to a fortunate few. In the last eight or nine years of his life he divested himself, and his heirs, of land with a value of approximately £750,000. There were political advantages in this: by giving the most powerful families a share of the monastic spoils, and by allowing other families to become powerful from feasting on the pillage, he created a potent constituency with the strongest possible reason for supporting what he had done. Most of the sold lands went for prices approaching fair market value, rather than being deeply discounted or given away. If Henry had husbanded his receipts, they could have not only given him unprecedented and potentially permanent autonomy but also funded at least some of the good things promised to Parliament. But instead he squandered it, almost literally threw it away, creating a legacy of financial neediness that would cripple his successors for a hundred years and finally contribute to the collapse of the monarchy under his great-great-grandnephew King Charles I.
He squandered his riches at home first, spending half a million pounds on building in the 1540s, much of it on coastal fortifications but as much as £170,000 on the construction, expansion, and unending improvement of his many palaces. (Even Hampton Court, which grew to more than a thousand rooms with luxurious sleeping accommodations for three hundred guests, was dwarfed by Nonsuch Palace, which was still a work in progress when Henry died, would never become an important royal residence, and in the space of a few generations would disappear from the landscape almost without leaving a trace.)
But what ruined the Crown financially was Henry’s resumed pursuit, as the 1530s ended and his mastery of church and state seemed complete, of military glory. As in the first years of his reign and again in the 1520s, he made war on both France and Scotland, and as before, there was no real point in attacking either. As before, he accomplished nothing of consequence, did nothing to enhance his reputation at home or abroad, and aggravated problems that would torment his successors. Even in their most farcical aspects, Henry’s last international adventures were painfully like his first. They began in 1543, when Francis of France and the emperor Charles—who five years earlier had signed a meaningless ten-year truce and then, with equal lack of seriousness, pledged that neither would enter into additional alliances without the other’s consent—once again went to war with each other and began to court England. Henry, who had no good reason to involve himself in this sterile old quarrel and many good reasons to stay out, nevertheless entered into a treaty with Charles by which both promised to invade France in the following year. Henry did in fact lead an army into France in July 1544—his deplorable physical condition made him less the army’s leader than a cumbersome part of its baggage—but predictably he and Charles neither cooperated nor even attempted to coordinate their operations.
Within two months Charles was making a separate peace with Francis, ending whatever chance Henry might ever have had of accomplishing anything. The conflict with Scotland was equally confused, confusing, and intermittently ridiculous. In 1542 Henry insisted on making a major issue of the kinds of skirmishes that had long been routine in the borderlands that separated the two kingdoms, demanding that the Scots acknowledge him as overlord of their king. The death of his
his nephew King James V after the English victory at Solway Moss in that year (Henry did not participate) opened up the possibility not only of peace but of union between the two countries. In 1543 Scotland’s infant queen was betrothed to little Edward, Prince of Wales, as part of the Treaty of Greenwich, but the Scots were soon repelled by England’s “rough wooing.” In each of the following two years an angry Henry sent armies under the late Queen Jane’s brother Edward Seymour not only to invade Scotland but—these were Seymour’s specific instructions—to cause as much mayhem as possible. One result was an outlandish amount of death and destruction. Another was the raising of Scottish hatred of the English to a pitch rarely seen before. The Scots turned to France for support, and the stage was set for the marriage of their queen into the French royal family. In the end the only result of Henry’s aggressive policy was the cementing of a French-Scottish alliance.
The French and Scottish campaigns cost England, in the five years leading up to Henry’s death, the stupendous total of more than £2.2 million—this at a time when the Crown’s customary revenues (those exclusive of the money from the monastic suppression) were in the neighborhood of £200,000. Just the three-month incursion into France in 1544 cost £586,000, and the subsequent defense of that campaign’s one trophy (the city of Boulogne, which had little real value to England, and which in any case the English had no chance of holding on to permanently) cost another £426,000. The war against Scotland, conducted at Henry’s insistence with gratuitous and self-defeating savagery, consumed £350,000, and the building up of an English navy took another £265,000. England had never seen spending on this scale. In almost any previous reign the burden imposed on the king’s subjects would have sparked resistance, even revolt. So cowed were the people by the 1540s, however, that Henry had little difficulty in matching his unprecedented spending with unprecedented taxation. Almost literally, he pulled out all the financial stops.
Students of the subject have calculated that as early as 1535, with Wolsey and Cromwell showing the way, Henry had accomplished the amazing feat of taking in (and just as quickly spending) more tax revenues than all his predecessors combined. But in the following dozen years the Crown would take in more than twice as much again—and
again we are speaking of taxes only, the riches taken from the monasteries not included. From 1540 to 1547 Parliament approved six of the traditional payments known as “fifteenths and tenths,” a percentage of the value of movable property. Each of these grants yielded approximately £29,000. During these same years Parliament also approved three “subsidies,” each requiring the clergy to give the Crown 20 percent of their income for three successive years and the laity to pay an annually increasing percentage of the value of their real and personal property. Nor was this all, or even nearly all. In 1542 Henry borrowed £112,000 from his wealthier subjects (everyone known to have an income of at least £50 received a letter informing him of how much he was expected to “lend”), and two years later Parliament declared the king free of any obligation to repay any such debts incurred since the start of 1540. Next Henry demanded and got something that Richard III had abolished because of its unpopularity and even Wolsey had been unable to revive because of parliamentary opposition: a so-called “benevolence,” a gift to the Crown that in this instance totaled £270,000. Two London aldermen dared to object. One was required not only to join the war against Scotland but to take with him a troop of soldiers raised at his own expense; soon captured, he had to pay a hefty ransom to secure his freedom. The other was simply sent to prison, where he remained for three months until being allowed to purchase his release. Throughout all this Henry was also borrowing from continental moneylenders. Foreign loans totaled some £272,000 in all, at interest rates of up to 14 percent. Much of this debt remained unpaid at the time of Henry’s death.
Even this was not enough to keep the Crown solvent. Something more was needed, and it was found in the most underhanded device available to the governments of the time: a systematic debasement of the coinage. As early as the reign of Henry VII, England had, in a legitimate response to a lowering of the value of continental currencies, occasionally and by modest amounts decreased the amount of silver or gold in its coins. In 1544, however, the royal mint began mixing more and more base metal into the coinage, not to keep in step with the Europeans but as a way of skimming off wealth. Soon its coins were only half gold or silver, and not long after that they were two-thirds base metal. Henry reaped £373,000 by this expedient, which caused his cash-strapped last chancellor, Thomas Wriothesley, to gratefully describe the
royal mint as the regime’s “holy anchor.” Few outside the government had reason to celebrate. Prices rose some 25 percent in the last two years of the reign, and the increasingly dubious value of the coinage became an embarrassment to Englishmen trying to trade abroad.
The cumulative effects of Henry’s changes were profound. If the old vision of a society in which wealth brought obligations had never come close to fulfillment, now even the ideal was dying. Stability was replaced by plunder, the institutions of government became the tools of the plunderers, and their aim, when it was not to pull in still more plunder, was to make sure that no one threatened the bounty that Henry’s revolution had funneled to them. There is no better measure of the kind of England that Henry had created than a statute passed by his Parliament at the instigation of his ministers just months after his death. Under this law, anyone who “lived idly and loiteringly for the space of three days” could have the letter V (for vagabond) branded on his chest and could be required to spend two years serving whoever had reported him (or, presumably, her). Those impressed into bondage in this way were entitled to nothing more than bread and water, could be made to wear iron rings around their necks, and were legally obliged to do whatever work their masters ordered “however vile it might be, by beating, chaining or otherwise.” Any who made themselves unavailable to their masters for two weeks or more were to have an S (for slave) burned into their faces and their two years of bondage extended into a life sentence. Further offenses could result in execution. No such law would have been conceivable in England between the coming of Christianity and the last years of Henry VIII’s reign. It was a classic case of punishing the victim, singling out for final humiliation the very people left most helpless by the pillaging of institutions that for centuries had attended to the needs of the weak and the destitute. It was too outrageous to be tolerated even by the new oligarchy for more than a few years, but it expressed in extreme form something of the spirit of the age. In a sense it was the zenith of Henry’s achievement, the highest expression of the new values that were growing out of the ruins of the old order.