King Henry I amassed and subsequently squandered a substantial wealth
In the early 12th century, during the reign of King Henry I, a significant shift in financial record-keeping occurred. The Pipe Rolls, the earliest surviving financial records, emerged as a vital source that offers insights into the king's income, expenditures, and the socio-economic structure of England during this period [3][5].
These records, with a surviving example from 1130, provide detailed accounts of royal revenue sources such as fines, fees, and feudal dues. They track the financial administration of local sheriffs and royal officials across England, offering historians a better understanding of the financial strength of the crown and the mechanisms used to govern and extract wealth from English society [3][5].
One of the most profound aspects of the Pipe Rolls is their revelation of the king's earnings from the growth of royal justice. The fines and fees collected indicate a more sophisticated and centralized royal administration than previously assumed [5]. By accounting for incomes and expenses county by county, the Pipe Rolls also illuminate the workings of the Exchequer, the king’s financial office, and provide evidence of how royal authority was enforced at local levels through fiscal means [3].
The Pipe Rolls offer scholars insight into the economic conditions of English society, the crown’s wealth, and the relationship between the king, nobles, and officials. They reflect both political control and social structure [3][5].
King Henry I's reign was marked by significant expenditures, including huge sums on war, most notably the capture and retention of Normandy. The Tower of London, which housed prisoners, including Henry I's cousin, the Count of Mortain, rumoured to have been blinded on the king's orders, saw considerable spending [1]. Spending was also recorded on two arches of London Bridge, linking the city with the suburbs of Lambeth and Southwark [7].
Finances levied on subjects could be enormous and often had to be paid off in instalments [8]. The royal court, a major logistical exercise due to the large retinue needed to accompany the king on his progress across his kingdoms, was another significant expense [9].
The king's hunt was a major expense during Henry I's reign, with huntsmen, forest wardens, and hawkers appearing on the rolls [10]. Hawks and falcons were imported from Norway, with a man named Outi accounting for 100 Norway hawks and 100 falcons [11].
The Pipe Rolls also shed light on the Jewish community in London, which was important and vulnerable. In 1130, they owed £2,000 "for a sick man whom they killed" [12].
The frontiers of the duchy were ringed with castles, now increasingly being built in stone [6]. King Henry I, the youngest son of William the Conqueror, was renowned for his wealth and had ready money at his disposal, despite spending huge sums on war [2].
In 1130, £24,000 was paid to the Treasury as cash or accounted for as expenditure [4]. The Exchequer, in the form we see it in 1130, may have been established due to the need to raise cash for Matilda's wedding to the German king [13].
The Pipe Rolls are a key source for understanding King Henry I's consolidation of royal financial power and the socio-economic structure of England under his reign. They mark the beginning of consistent financial record-keeping in England, enabling insights into medieval governance and society from the early 12th century onwards [3][5].
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