[Sidenote: Financial exactions]

It was in this field that Henry overstepped his normal policy of not only
working through the law but avoiding misuse of it. For the filling of
Henry's treasury, the law was abused. The exactions of Empson and Dudley
were made possible by the statute of 1495, empowering judges, upon
information received, to initiate in their own courts trials of offenders
who were supposed to have escaped prosecution through the corruption or
intimidation of juries. Empson and Dudley being appointed judges found it
an easy task to provide informers, who laid before them charges on which a
case could be made out for fining the accused. In theory, of course, the
King was not responsible, and the guilty judges paid the penalty with their
lives early in the following reign. But the King did in fact get his full
share of the discredit attaching; and perhaps his methods in this
particular have been emphasised out of proportion to other traits in his
character and policy by popular writers. There is some reason to doubt if
Henry was ever quite fully aware of the extent to which these extortions
were distortions of law; and there is no doubt at all that Empson and
Dudley did not conduct their operations with a single eye to their master's
benefit, but contrived to intercept ample perquisites on their own account.
The statute was soon repealed under Henry VIII.

[Sidenote: Trade theories]

Modern economic theories depend for their validity on the postulates of the
transferability of capital and of labour. In proportion to the limitation
of the industries possible to a community, their laws apply, or fail to
apply, within that community. The development of a new industry may be
impossible, in the competition with established rivals, without artificial