INCLASS-Government Facts-Northumberland Flashcards
Who enforced stricter methods of accounting?
Winchester
What was a privy coffer?
this was an emergency household fund
Although Northumberland aimed to reduce expenditure what was unrealistic to expect?
for a mid sixteenth century king to “live within his means”
Who did Northumberland appoint to the task of reforming finances in feb 1550?
William Paulet, the Marquis of Winchester
What role was given to William Paulet, the Marquis of Winchester in feb 1550
Lord treasurer
Bologonge was returned to France for how much?
£133,333
What saw drastic reduction under crown finance?
military and household expenditure
What did debts in 1550 stand at in comparison to £180,000 in 1553?
£300,000
What did debts in 1553 stand at in comparison to £300,000 in 1550?
£180,000
What was a disadvantage and advantage of selling crown lands and Chantry lands?
this raised £200,000 but weakened crown finance in the long term
How much extra ordinary parliamentary finance did Northumberland raise?
£336,000
How much in debts did Northumberland manage to claw back?
£16,000
What were 4 methods used by northumberland to increase crown finance?
- sale of Crown and Chantry lands
- extraordinary finance
- debts claimed back
- borrowed from Europe
What markets had the crown borrowed money from, which later they had to return after a collapse?
Antwerp markets
Who did Northumberland authorise to pay off royal debts whom did a very good job?
Sir Thomas Gresham
Sir Thomas Gresham was appointed to pay off royal debts and did a very good job and managed to renegotiate the loans at a reasonable ___% rate?
12%