Records: the Council on Monetary Affairs

**Created:** *the Council on Monetary Affairs*

The positions of Warden of the Mint, Steward of the Household and Chamberlain of the Household were made vacant – *and were now filled with "the Council*." These positions, which had unwisely evolved into an inheritable position within the Royal Household, were to be professionalized, pending “best practices” to be determined by the Council (most of which was the core family).

* *Arguments against the steps stopped short once the plans were heard. About half of that was logic and natural authority, about half was SNS-based "problem-solving."*
* Additionally, the roles of Lord High Treasurer (in charge of His Majesty's Treasury), Lord Privy Seal (in charge of the personal (privy) seal) and Chancellor of England (giving oversight of the courts in the role of Chief Attorney for the Crown), as well as Keeper of the Great Wardrobe and several other roles as well. This Council essentially held all of the positions of England’s Great Officers of State.
* While nobody was quite willing to question the Prince – he was a hero – the appointment of experts from Oxford and Cambridge, as well as leading merchant houses from London, gave considerable hope. At the very least, it probably couldn’t be worse than it had been – and at the very best, the future king would be rapidly educated regarding the roles of his officers.
* *Subtext: the plan was picked apart and debated, but otherwise approved. While there was no official acknowledgement, given the timing and circumstance, it was obvious Eddy & Rick were the authors*.

The findings of the Council were discussed in the Royal Court (with members of parliament making the side-trips for updates). The Council cited the economic works of Aristotle, Xenophon and Thomas Aquinas as guidance. At the time, Aquinas may have come nearer than any other group to being the 'founder' of scientific economics as to monetary, interest, and value theory within a natural-law perspective.

* Prince Edward had three family members, all non-royalty or nobility but still a part of the Plantagenet blood, accompany him as clerks, recorders and assistants. It was one family member per position (with some awareness that if they didn’t screw this up, they were about to have a major step up in life).
* *Those family members had deep SNS training and education component. Unconscious seeds of economic and financial theory were planted, which bubbled up as conditional observations or situational demands were made*.

"The Council" compiled their notes to create a multi-author body of work (over several distinct volumes) that would ultimately define ethics, the conduct of management, budgeting, econometrics and analytics, process, performance and human resources; as well as the dynamics of national and international economy.

* At the time, since the Wardrobe was still under Parliamentary oversight, select nobles and gentry were occasionally invited to the meetings. As part of that process, under *the plan's* guidance, the family clerks had created standards and were now documenting *everything*.
* Within three months, the new professionalism – *and results* – of the Royal Council soon restored the credibility and authority of the offices themselves.