Exchequer facts for kids
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The Exchequer is a very old part of the British government. Think of it as the government's main bank account. It handles all the money the government collects from taxes and other sources. It also manages how the government spends this money. You can often see the term "Exchequer" in official financial reports.
In the past, the Exchequer was a special government department. It was in charge of collecting taxes and managing all the government's money. It also made payments for the King or Queen. Plus, it checked all the government's financial records. Over time, it even started to act like a court, dealing with legal cases about money owed to the government. Similar offices were later set up in other places like Normandy, Scotland, and Ireland.
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What's in a Name?
The name "Exchequer" comes from a special table used long ago. This table helped people in the medieval period count taxes and goods. Imagine a really big table, about 10 feet long and 5 feet wide. It had a raised edge so nothing would fall off.
This table was covered with a black cloth that had green stripes. These stripes made it look like a chessboard. In French, a chessboard is called an échiquier. People used special counters on this checkered cloth to represent different amounts of money, like pounds, shillings, and pence.
Later, the word "Exchequer" also referred to important meetings. These meetings happened twice a year, around Easter and Michaelmas. During these meetings, government money matters were handled. Officials also checked the financial reports from local sheriffs.
The Exchequer in England and Wales
Nobody knows exactly when the Exchequer first started in England. But we know it was mentioned in a royal document in 1110. This was during the time of King Henry I. The oldest surviving financial record, called a "Pipe Roll," is from 1130. These Pipe Rolls kept a continuous record of the King's money and taxes.
Under King Henry I, there was a clear process for checking accounts. The treasurer would send a request to each sheriff. The sheriff then had to report all the money collected in their area. This included money from royal lands and local taxes. Then, the Chancellor of the Exchequer would ask about any debts owed by private people.
By 1176, the Exchequer had split into two main parts:
- The Exchequer of Receipt was the part that collected all the money.
- The Exchequer of Pleas was like a law court. It dealt with legal cases related to the King's money.
There was even a special section for taxing Jewish people from the late 1190s until 1290. This was called the Exchequer of the Jews.
In the 1600s, many goldsmiths stored their valuable treasures with the Exchequer. But in 1672, King Charles II stopped payments from the Exchequer. This caused big problems for the goldsmiths and hurt the government's trust. Because of this, the government of King William III had trouble borrowing money. This led to the creation of the Bank of England in 1694.
The Exchequer's records were kept in the Pell Office. This office was named after the animal skins, or "pells," that the records were written on.
Important People in the Exchequer
Here are some of the important roles in the Exchequer over time:
- Auditor of the imprests
- Auditor of the Receipt of the Exchequer
- Baron of the Exchequer
- Chancellor of the Exchequer
- Chamberlain of the Exchequer
- Chief Baron of the Exchequer
- Clerk of the Pells
- Comptroller General of the Exchequer
- King's Remembrancer
- Teller of the Receipt of the Exchequer
- Treasurer of the Exchequer
- Clerk of the Pipe
Changes Over Time
In the 1800s, the Exchequer's role started to change. Many of its jobs were moved to other government departments. By 1834, it was no longer needed for collecting money. Government departments started paying money directly to the Bank of England. All the money that used to go to the Exchequer now went into a central fund.
In 1866, the job of checking government accounts was combined into a new role. This new role was called the Comptroller and Auditor General. The department was known as the Exchequer and Audit Department until 1983. Then, it became the National Audit Office.
Today, when people say "Exchequer," they often mean the Treasury. This is the government department that manages the UK's money. Sometimes, it's also used to mean a company's general money supply.
The Exchequer in Scotland
The Scottish Exchequer started around 1200. It had a similar job to the English one, checking accounts and managing royal money. However, it took longer for the Scottish Exchequer to become a separate law court. It wasn't until 1584 that it became a court. Even then, its court and money-management jobs were never fully separated like in England.
In 1707, a new law made the Scottish Exchequer a law court. It was set up like the English court, with a chief baron and four barons. It started using English court procedures and gained more powers.
After 1832, no new barons were appointed. Their jobs were taken over by judges from the Court of Session. By 1856, the Exchequer became part of the Court of Session. Today, a judge in the Court of Session handles Exchequer cases.
The Exchequer of Ireland
The Exchequer of Ireland began in 1210. This was when King John of England changed how Ireland was governed. He made it more like English law. It had two main parts:
- The Superior Exchequer was a court that dealt with fairness and money cases.
- The Inferior Exchequer handled the practical side of money. This included collecting money, recording it, and approving payments.
The Court of Exchequer in Ireland existed from about 1299 to 1877. It was later combined with other courts into the High Court of Justice in Ireland.
Today, in the Republic of Ireland, the main government fund is sometimes called the Exchequer. This helps tell it apart from other government money.
See also
- Exchequer of Chester
- Exchequer Standards
- Fisc
- History of the English fiscal system
- Taxation in medieval England
- Red Book of the Exchequer
