Edwards financial policy

Question 1

what were the problems with finance?

Answer 1

• exchequer so bad he didn’t bother reforming
• cut royal house expenditure
• queen got less than Anjou did

Question 2

ordinary income: crown lands

Answer 2

• forfeits where land taken away as punishment (Percy’s and Clarence)
• Edward had more land than henry
• brought in £30,000 p/a
• inspectors to collect revenue
• land income from £350 to £885

Question 3

ordinary income: custom revenue

Answer 3

• £25,000 p/a for imports and exports at start of reign
• trade treaties with hanseatics in 1468 and France in 1475
• 40% increase since start of reign

Question 4

ordinary income: feudal dues

Answer 4

• charged landowners when minors whose fathers had died, came of age
• sold people he was in-charge of to highest bidder (like daughters)

Question 5

extraordinary income: taxation

Answer 5

• collection of 15th and 10th all the time
• £100,000 from laity/ commoners
• £77,000 from clergy (only 48k for war with France - wanted to keep happy)
• tax fund exposition like 1475 in France (didn’t happen)

Question 6

what was the 1478 black book of ordinance?

Answer 6

• record working of royal house by dividing into above stairs (public) and below stairs (support upstairs
• aimed to regulate finances by improving accounting
• reduction in costs by 1478

Question 7

how did Edward get money from the judicial system?

Answer 7

• fees and fines from the judicial system went to Edward

- between £300 and £800 p/a