Edward and money

Question 1

What was the Wool Trade Duty? - A.W.P

Answer 1

A tax on every sale of wool in England

Question 2

Which Italian organisation did Edward take money from? - A.W.P

Answer 2

Riccardi Bankers

Question 3

How much money did Edward gain as profit from replacing old coins?- D.L.G

Answer 3

£25000

Question 4

Which three coins did Edward introduce to replace the original silver penny? G.E.R

Answer 4

The groat, the halfpenny and the farthing

Question 5

What happened in the Statute of Merchants? (1285) - A.C

Answer 5

Mayors could imprison debtors.

They could seize their land.

Question 6

Who did Edward make a deal with after ending his current deal with the Riccardi bankers? J.W

Answer 6

The Frescobaldi

Question 7

What year did Edward agree to call in all existing coins and replace them with new ones? - I.P

Answer 7

1279

Question 8

How much money did Edward borrow from the Riccardi? - K.P

Answer 8

£20,000

Question 9

Why did Edward need money from Italian bankers?- J.B.L

Answer 9

War broke out between France and England

Question 10

What did coin clipping entail? - O.B

Answer 10

Cutting or filing of a small amount of a coin, excess pieces would then be melted into more coins.

Question 11

What problem did Edward face meaning he had to change the coinage? J.H

Answer 11

Coin Clipping