Edward took a personal role in running the country and was at the heart of his own government. He chose to use men with ability rather than nobility and even used lesser men to ensure power was balanced. He distributed patronage fairly and quite evenly. This also meant he had a larger power base. He dictated his council and rarely was opposed even by Parliament. His financial dependence on Parliament was not too great; his only depended on them with expenditure. He had two steady sources of revenue which were customs duties and royal estates. The introduction of the Land revenue led a greater prominence of the chamber. His royal household now collected the taxes in place of the Exchequer. He was seen as a financially capable businessman and was therefore able to borrow loans easily from merchants in London.
Although Edward was mainly successful with his financial policies and his treatment of the nobility, he was in fact too reliant on the Duke of Gloucester and Northumberland. This led to them becoming over-mighty nobles, giving them the opportunity to eventually depose Edward’s heir from the throne. Although it was not obvious at the time, this was a critical failure as it meant an undisputed succession was not ensured.
Edward’s commercial policy was mainly successful. He promoted the development of the English merchant marine, a new market for English trade and commerce. His treaty with Burgundy created a bigger British export trade. The export of cloth doubled and the problem of piracy decreased. Also, the treaty of Utrecht increased Hansiatic trade. Edward’s only notable failure where trade was concerned was his tendency to rely too heavily on both English and foreign merchants for loans. This fault shows that Edward was not successful in everything except ensuring an undisputed succession.
Edward’s unsuitable marriage to Elizabeth Woodville had many effects on his reign. Elizabeth was previously married and had children from that marriage therefore could not announce her virginity. She was also a commoner and greatly disliked. As the marriage was not supported by his councilors, Edward had to buy their support. For instance, he allowed his brother Richard to build huge power bases in the provinces if he showed support for the Woodville marriage. Also, Edward’s son would not have the true support the nobility or public when he came to the throne as the son of a Woodville.
Edward’s invasion of Scotland was not productive. Edward responded to Scottish raids in 1482 by sending an army to Edinburgh. Little was gained from this. In the same year, Burgundy and France made peace. Consequently, Louis stopped paying Edward his pension. This meant England was receiving less from France and yet the Scottish invasion was costing more.
Edward relied heavily on his own personal control in government. He sacked Lancastrian office-holders and introduced a tighter management of revenues in order to reduce the Crown’s debt. He traded successfully in wool for his personal benefit to restore his family’s fortunes. This also enabled him to rely less on others for personal profit. Edward, however, did not work hard enough to ensure an undisputed succession. It was his responsibility to ensure this. He did set up councils to govern in the Marches of Wales in order to secure his son’s power base there, but this was not enough. Of course, his early death did contribute to his son’s usurpation and this was a matter beyond his control but perhaps he could have secured his son’s position if he had not relied so heavily on Gloucester or married into such an unpopular family, amongst other things.
Edward’s reign was mainly prosperous. He had many successes in all aspects of his kingly duties. Trade and commerce improved, foreign relations improved, he died solvent and his treatment of the nobility and his councils was mainly sound. However, his over-reliance on nobles, his unproductive attack on Scotland and the Woodville marriage were all political mistakes that show that his inability to ensure an undisputed succession was not in fact his only failure.
