property (e.g. in one instance, one-fourth), or by exacting levies for offences, actual or alleged. The establishment of a dedicated Exchequer of the Jews is an indication of their fiscal value. Direct taxation formed an extraordinary or occasional source of revenue. The Danegeld was succeeded by the carucage, and scutage developed from the commutation of the feudal tenure of knight-service from actual military service into cash payments. Customs and dues claimed at the ports which were small in amount but which nevertheless contained the germ of the fully developed customs system of later years. The history of the English financial system consists mainly of the different flows over time of the above exchequer receipts. For example, a sheriff was bound to account twice yearly at the Exchequer for the royal revenues of his county (the "county farm" or corpus comitatis). During the century and a half that lay between the Norman Conquest and the granting of Magna Carta, this system operated well. Nevertheless, the character of the ruler affected the vigour of administration, both fiscal and general. For instance, the relatively popular Henry I and Henry II secured far better fiscal results than the unpopular and divisive kings Stephen and John, even though the collection of rents and profits from the royal demesne together with feudal and other dues continued as the mainstay of the revenue. However, indications of change are to be found, and the substitution of the carucage (or plough tax) for the Danegeld marks an advance towards direct taxation of land through its produce. Moreover, the introduction of scutage is not only further evidence of the same tendency, but also a step toward the development of a money-based economy to replace the earlier system of payments-in-kind. The tallage (or special levies) imposed on towns in the king's demesne at times of need appear to have been a doubtful exercise of the royal prerogative, albeit belonging scientifically to the same class as the Danegeld and scutage. Perhaps the most important advance made in this period was the beginning of taxation on movable goods, first applied in the Saladin tithe of 1189 later expanding into a general system. In the reign of King John (1199–1216), the loss of Normandy and his concessions to the demands of the feudal barons set out in Magna Carta rendered financial re-adjustment inevitable. During the long reign of King Henry III(1216–1272), the enforcement by