Henry VII was the king of England when John Cabot discovered Newfoundland in 1497, giving England its first claim on North America. In a fit of unwonted generosity, Henry VII rewarded Cabot with 10 pounds.
Poor John Cabot -- you only get 10 pounds when you're five years too late.
Ah yes, Giovanni Caboto, the famous, ahem, "English" navigator and explorer.
Heh heh.