The first area that Edward ensured to solve during his second reign was the finance problem. Edward was the first king to die solvent in more than 200 years. This is impressive because there were serious problems during Edwards first reign that caused the crown to be in big finance troubles. Edwards’s generosity with land in his first reign led to him making money from the land and then renting it for cheap- i.e. To Herbert and Hastings, thus losing out on potential earnings. Common sense would dictate that there would have been distinct improvements in financial figures but there are no figures to substantiate it. So, with poor financial status in his first reign Edward entered back into the monarchy in 1471 with the same problems. If he wanted more money he would need to tax, which would lead to public onslaught, but also tighten up other areas of concern like; custom duties and crown lands. For Edward gaining these finances there was some luck involved. There had been a growing depression in English trade, due to the bad relations with England’s commercial neighbours, which meant that the income from trade was limited. Edward ensured that foreign relations would improve as he set up commercial treaties in the 1470’s. This meant that trade could be monitored more closely with the introduction of surveyors of the customs. Edward increased foreign trade through his policies and alliances, at the same time charging on imports and exports, so as trade increased so did custom charges.
In relation to the problems that faced Edward IV over crown lands, he resumed possession of nearly all of the royal estates, without regard to whom they were granted (1475). This suggests that Edward was extremely worried about the possibility of bankruptcy, but also that he saw the need for solvency. Edward also ensured reform in areas like the crown’s estates by using advisors to devise measures for reform to increase efficiency. Edward controlling of the crown lands and custom duties ensured that as a whole the crown was financially stable but there were personal trading and financial help that added to help Edward die solvent after his reign. Edward received over £10,000 from a French pension, which, he enjoyed from 1975 till his death, making him extremely wealthy. The pension came about because Edward IV had planned a campaign against the French, where the English were allied with the Spanish and the Burgundians. The French realised that the forces against them were too strong and also realised the poor finances that Edward had, so King Louis XI offered a treaty and a pension to prevent an attack, causing Edward and the English to ally with the French. The French pension not only helped finances from the point of view of the crown but also allowed Edward to have lucrative amounts of money for personal luxuries, without taking money from the crown. Edward IV continued to profit from his own personal trading also to ensure that he had finances to spare, and to ensure wealthiness.
The problem that faced Edward early in his first reign was that of lack of finance, affecting the economy of the crown for the worse. However during his second reign, Edward managed to implement new regimes that led to tighter control were fines or money were concerned, customs duties as an example.
It is clear that the problem of finance therefore was solved during Edward’s second reign, however I believe that Edward also managed to ensure supportive nobility.
Edward IV had previously had problems amongst his nobles, but during his second reign Edward, through intellect managed to ensure their support. Edward knowing previously the dangers of having powerful nobles-Clarence-gave his other brother Gloucester a considerable power base in Scotland. Edward however saw his brother’s power and dominance as direct power to himself. Edward did not see powerful nobles with a full complement of retainers as a threat, but rather as a reflection of his own power, plus also a useful addition should he need their armed support. Through his generous use of patronage and ennoblement, Edward made services to the king of the highest status.
The king himself would have increased his own power directly had he chosen to retain for the crown the estates of the Lancastrian adversaries. However Edward IV redistributed land as patronage in a manner befitting a generous king who saw strong nobility as a mark of his own power rather than a threat to it. That Edward was fair with his patronage ensured support for him both amongst his own nobility, but also amongst Lancastrian nobility as he distributed patronage justly. Edward rewarded loyalty amongst the nobility with patronage. This means that Edward could use patronage as a goal for nobles to ensure that they behave with loyalty. Edward tactfully ensured less chance of noble feuds, as he made certain that obedience was met amongst the nobility, as the reward was clear, patronage. Edward can be seen as a traditional king whose attitude to his nobility reflected the fact that he had once been one of their number.
I believe that Edward IV during his second reign definitely solved the growing problem of financial issues, and ended up dieing solvent. Also I believe that at such a controversial time in English history, where feudal relations were weak due to the readeption, Edward ensured that relations stayed as conservative as possible through his fair and equal distribution of patronage. Edward solved the two issues of finance and also the nobility. Therefore he solved more than one problem during his reign, more than just solvency.
