History of The English Fiscal System

The history of the English fiscal system affords the best known example of continuous financial development in terms of both institutions and methods. Although periods of great upheaval occurred from the time of the Norman Conquest to the beginning of the 20th century, the line of connection is almost entirely unbroken. Perhaps the most revolutionary changes occurred in the 17th century as a result of the Civil War and, later, the Glorious Revolution of 1688; though even then there was no real breach of continuity.

The primitive financial institutions of early England centred round the king's household. In other words, the royal preceded the national economy in importance. Revenue dues collected by the king's agents, rents, or rather returns of produce from land, and special levies for emergencies formed the main elements of the royal income which gradually acquired greater regularity and consistency. There is, however, little or no evidence of what modern governments recognise as financial organisation until the 11th century. The influence exercised from Normandy, which so powerfully affected the English rulers at this time, tended towards the creation of records of revenue claims as well as a central treasury.

Read more about History Of The English Fiscal System:  Systematising Finance, Royal and Feudal Prerogative, Sources of Revenue, Direct Taxation, Poll Tax, Indirect Taxation, The Clergy, Further Forms of Tax Raising, The Civil War and The Commonwealth, The Restoration and Beyond, Income Tax, Estate Duty

Famous quotes containing the words history of, history, english and/or system:

    What is most interesting and valuable in it, however, is not the materials for the history of Pontiac, or Braddock, or the Northwest, which it furnishes; not the annals of the country, but the natural facts, or perennials, which are ever without date. When out of history the truth shall be extracted, it will have shed its dates like withered leaves.
    Henry David Thoreau (1817–1862)

    The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.
    Aldous Huxley (1894–1963)

    The English public, as a mass, takes no interest in a work of art until it is told that the work in question is immoral.
    Oscar Wilde (1854–1900)

    In the end we beat them with Levi 501 jeans. Seventy-two years of Communist indoctrination and propaganda was drowned out by a three-ounce Sony Walkman. A huge totalitarian system ... has been brought to its knees because nobody wants to wear Bulgarian shoes.... Now they’re lunch, and we’re number one on the planet.
    —P.J. (Patrick Jake)