Northumberland- Financial policy Flashcards
What is the new perspective of Northumberland?
He was an able duke who produced a series of lasting reforms
How did Northumberland shape the council?
33 men all with military experience
When was the coinage debased for the last time?
May 1551
Who did Northumberland put in charge of the Treasury?
William Cecil
Who did N’land send to the Netherlands? And what for?
Thomas Gresham. Sent to negotiate with flemish cloth traders and foreign bankers. N’land gave him £12k a week to restore the value of sterling and to manipulate the stock market
When was the coinage recalled and to what value?
Recalled in March 1552 and re-minted to 1527 value.
How did Northumberland make the court more efficient?
He reduced 5 courts to 2 courts- therefore money was being passed through less people so no more ‘embezzlement’ by figures such as Arundel, Whalley and Paget
How did he enforce a stricter method of accounting crown income?
Provided council with up to date reports and receipts
What did N’land to protect the crown in times of emergency?
Established an emergency fund of £40k and a privy coffer. As well as liquidating overseas debt.
How did Northumberland ease the worst of social distress? -Nigel Heard
Drove down food prices Protected Arable Farming Ended Enclosures Repealed Sheep Tax New poor law Halted debasement
By how much did N’land manage do to reduce the crown’s debt?
From £260,000 to £180,000
What is Elton’s view of N’land?
“exceedingly ambitious of power and a man for whom no one ever had a good word and very greedy”
What is Heard’s view of N’land?
“while N’land did little to resolve underlying economic problems he did check inflation and ease the worst of social distress”
What is Dale Hoak’s view of N’land?
“most remarkable ruler of the 16th Century”
