Financial management, the domestic economy and overseas trade (Exchequer and chamber)

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Financial management, the domestic economy and overseas trade

Exchequer and Chamber

H relied on Exchequer to organise his finances- It was a system that ran royal finances by employing its own officials, therefore, in effect, H sub-contracted financial management to the Exchequer.It kept accurate accounts, but said to be slow and less efficient.

Previous Y kings had relied on different financial system known as the Chamber.
It was known as this as the financial management was part of the royal household and under the direct supervision of the king.
Chamber collapsed, and when H came to throne he lacked financial experience to be able to reconstruct it immediately- He was cautious and not prepared to risk losing his throne

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