Edward IV 1st reign finances

Question 1

How much debt did Edward inherit

Answer 1

£350,000

Question 2

What annual income did Edward inherit

Answer 2

low - £24,000

Question 3

How did Edward increase income from royal estates

Answer 3

by sending crown administrators to the estates to check on land and ensure revenue was sent
He also began the ‘land revenue experiment’ - modernising income by ending fixed rates

Question 4

What system did Edward introduce

Answer 4

the Chamber system of finance - replacing the exchequer

Question 5

What did the chamber system of finance do

Answer 5

reduced corruption and embezzlement as well as increasing speed and ease of income

Question 6

What helped trade in E4’s 1st reign

Answer 6

Alliance with Burgundy boosted cloth trade

Question 7

When was E4 granted customs duties for life

Answer 7

1465

Question 8

What were E4s failures in his 1st reign

Answer 8

2 taxes granted for wars he didn’t go on - France 1465 and Scotland 1462 - were unpopular
Trade slump in Europe decreased customs duties