Bankers to the Crown

The book explores the financial strategies of Edward I of England during the thirteenth century, highlighting his innovative approach to funding his monarchy amid rising expenses. It details how he imposed duties on wool and leather and implemented more frequent direct taxes to generate revenue. Despite these efforts, challenges in collection and liquidity persisted. Edward's solution involved forging a crucial partnership with the Italian merchant-bankers, the Societas Riccardorum de Luka, to ensure a steady cash flow for his military and administrative needs.