Exchequer

The Exchequer was that part of the government responsible for the management and collection of the royal revenues of the King of England. At an early stage (certainly by 1190) it split into a purely administrative part (the Exchequer of Receipt) which collected revenue, and a judicial part the Exchequer of Pleas, which was a court concerned with the King's revenue.

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Originally the Exchequer referred to a large table, 10 feet by 5, on which counters were placed representing various values. According to the Dialogue concerning the Exchequer -- an early Medieval work describing the practice of the Exchequer -- the name referred to the resemblance of the table with that of a chess board.

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The term "Exchequer" then came to refer to the twice yearly meetings held at Easter and Michaelmas at which government financial business was transacted and an audit held of sheriff's returns.

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Under Henry I, the procedure for the audit adopted would involve the Treasurer drawing up a summons which would be sent to each Sheriff, which they would be required to answer. The Treasurer would call on each Sheriff to give account of Royal income in their Shire. The Chancellor of the Exchequer would then question them concerning debts owed by private individuals. The results of the audit were recorded in a series of records known as the Pipe Rolls.

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The Exchequer became unnecessary as a revenue collecting department as a result of Pitt's reforms. It was abolished in 1834. Those government departments collecting revenue paid it directly to the Bank of England.

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By extension exchequer has come to mean the Treasury; and, colloquially, pecuniary possessions in general; as, 'the company's exchequer' is low.

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Revenue: :For the tax agency in Ireland of the same name , see Revenue Commissioners....

King of England: REDIRECT List of English monarchs...

Exchequer of Pleas: The Exchequer of Pleas or Exchequer was one of the three common-law courts of Medieval and Early Modern England. The term Exchequer is used where there is no possibility of confusion with the government department of the Exchequer of which the Exchequer of Pleas formed a part....

Exchequer related Images and Photos (experimental)

A Perspective View of the Parliament House and Exchequer Edinburgh Engraved by A. Bell