New Monarchy

• Henry VI's government was ineffective - state of lawlessness. Edward promised a reform
• Edward shifted towards absolutism. Destruction of power of nobility, removed protections against taxation, legislation and imprisonment.
• Similarities to other medieval monarchs:

  • made key decisions but did not act alone
  • decisions sought by petitions, complaints, etc... initiated by himself or a close advisor
  • relied on household men (knights, yeomen, chaplains)
  • he worked well with parliament to avoid clashes and take complaints seriously.
• Key changes:

  • used patronage such that nobility owed their positions directly to him
  • he took control of royal finances
  • importance of display of majesty
  • restored loyal supporters to ranks - 32 titles were created. New men relied on to bring about efficiency and order
• Many institutions inherited by him were old and creaking. Instead of reforming them, he just bypassed them and used other systems.
• Edward inherited a bankrupt monarchy, £375,000 debt and expenditure was £50,000. There was a massive fall in income due to custom charges on imports and exports. Great slump still was felt. He had to spend a lot of money consolidating his authority.
• He taxed the country 4 times during his reign. 2 were for a war that didn't happen, 3rd was cut short and 4th was for his sister's wedding. He forced loans, gifts and benevolences.
• He tried to recover lands that were given away through an act of resumption. He had more land than any other monarch of the 15th century. Rents were increased where possible.
• He acted like a merchant. He sought profit where he could. He used agents to export large sums of wool. Recoinage and French pension.
• He bypassed the Exchequer, it was so inefficient that he didn't attempt to reform it. Money was diverted directly into the royal coffers. Excellent system but relied on a stable and capable monarch.
• Royal household was a great expense. Costs were cut, Elizabeth's endowment was less than Margaret's
• The Black Book:

  • described and regulated the expenses of the household
  • 'above stairs' seen by the outside world and would impress the public
  • 'below stairs' counting house, bakehouse and cellar to support the above stairs
• There was improvement after 1475, but Edward was having to reduce expenses like food, fuel and ordinary wages. 1478 - ordinance introduced austerity measures for the royal household. It outlined the economies that were to be made and improved methods of accounting.