Wow! It looks like the king should have done very well under that system!
An interesting statement from the text "John of Ghent, The Last Knight" was that the long term effect of the hundred years war campaigns was that financially they just barely broke even. (More like half lost, half gained, the net effect was no real profit to the crown.) It is strange to think how usury was regarded, when the major monarchs pretty much financed the onset of campaigns by borrowing from Jews. Their treasury reserves were typically inadequate for the expenses (straight from the referenced text).

Sorry for the double post everyone! My computer was moving at snail speed and I must have double clicked on submit.

RPM

Jared,

Yesterday at work a gent that teaches with me taught on taxes in the 100 Years War and the lecture was quite interesting. I listened to it last year as well. He noted that they seem to have begun the war with some 164,000 pounds of debt and the crown only makes 25-30,000 pounds a year.... not good. The Medeival English governments seem to have a great deal in common with our governments. No one really is able to call in their debts as they are owed to by the government. I will see if I cannot find more info but a good article is Ormrod's article in Arms, Armies and Fortifications of the Hundred Years War By Curry and Hughes. It covers taxation how much was spent and how it was acquired. To make it worse the king borrow against future years payments so when the money arrived it was already spent!

The Earl of Arundel was owed some 20,000 pounds by the king at his death. At the time of his death he had some 60,000 pounds in cash!!! A veritable fortune by any standard of the time. In his will he forgives Edward and gives him 20,000 or 30,000 pounds (sorry cannot remember off hand). Not sure if he did it just to be nice or as a way to show Edward it was possible to save money or maybe even an insult! I'd assume it to be more of look I can save so can you but thats my own feeling.

It is often debated if the war was a benefit to England. Hard to say, especially as in the end the people involved are much more select group that 14th century wars. There are clearly people who made out very, very well and built their homes and fortunes with French goods but there are many who failed utterly and lost everything. Accounts of knights and soldiers getting alms from the king and church houses are a sad indication of this poor group.

RPM