252 chapter five
the lead was sold in a deal with two Spanish merchants at Antwerp
who had the farm of alum at Civita Vecchia in the Papal States. e
price obtained was eventually £4.13s the fother, not bad in the cir-
cumstances but Henry found himself weighed down with 30,000
quintals of alum in a country that only consumed 4000 a year.
214
ere is no doubt that the sale of monastic land was speeded up,
yielding about £900,000 in the period 1541–1551.
215
Sales of £165,691
in the year ending Michaelmas 1544 rose to £237,888 in that to
Michaelmas 1546.
216
In 1545, the crown dissolved the Chantries by
Parliamentary statute which explicitly appealed to the ‘excedinge greate
& inestimable charges, costes and expences . . . of theis present warres’
but returns were slow to come in.
217
Debasement, which began in May
1544, undoubtedly lled part of the decit and was bound to have a
serious eect in a society in which coinage in any case was not in
plentiful supply. As Wriothesley put it when sending o £20,000 in
November 1545, £15,000 of it came from ‘the Myntes, our holy ancre.’
218
In May 1544, new prices for gold and silver were set and new coins,
the Sovereign (£1) and the Teston (12d), introduced. It is estimated
that the prot from debasement from 1544 to 1551 yielded £1,270,000,
of which nearly 600,000 was made by the death of Henry VIII.
219
pp. 122–135. Ultimately Vaughan was able to get oers on little more than £4 the
fother at Antwerp in 1544.
214
Richardson, ‘Financial expedients,’ pp. 42–44. L&P, XX, ii, App. 41. us a sale
of 12,065 fothers would now yield £56,100, near enough Wriothesley’s original esti-
mate for sale in 1544.
215
Figures in F.C. Dietz, English Public Finance 1485–1641, 2 vols 2nd ed. (London,
1964), p. 217. See also W.C. Richardson, e History of the Court of Augmentations
1536–1554 (Baton Rouge, LA, 1961), p. 235.
216
W.C. Richardson, Tudor Chamber Adminsistration 1485–1547 (Urbana, Ill, 1950)
pp. 270–272; idem, ‘Some Financial expedients,’ pp. 36–37.
217
Statutes of the Realm, 37 Hen.VIII, c4, III, pp. 988–999.
218
Wriothesley had sent of £15,000 to Southwell for Boulogne, £10,000 for Guînes
and £2000 to Rither for victuals (to Paget, 1 Sept. 1545, L&P, XX, ii, 268). Wriothes-
ley to Paget, [5 Nov.] 1545, NA SP1/210, fo. 12 (L&P, XX, ii, 729). For this £15,000,
Augmentations contributed £3000, the duchy of Lancaster and Court of wars £1000
each. Tenths and First Fruits had nothing and the Exchequer only £1000 earmarked
for the navy.
219
Proclamation on the coinage, May 1544, Hughes and Larkin, I, no. 228,
pp. 327–329 (L&P, XIX, i, 513 and ibid. 513.3 and 4 on the prots of the mint in
recoining at news rates for gold). C. Challis, ‘Debasement of the coinage, 1542–1551,’
Ec.H.R. 20 (1967), 454; idem., e Tudor Coinage (Manchester, 1978) It does not seem
possible to establish net prots year by year from Challis’ gures, though a quick cal-
culation of gross prots down to early 1547 can be made from the tables in ‘Debase-
ment’ pp. 457–466 (approx. £588,400).