The
rigsraad, which was dominated by the wealthy landowning nobility, held extensive powers, including the right to approve extraordinary taxes and the right to veto the declaration of war. Moreover, the regency government prior to 1596 had been reasonably successful in its management of finances, and landowners generally benefited handsomely from an overall prosperity in Denmark. Thus, from the outset of his personal rule, Christian was challenged to defend his authority against a powerful and wealthy nobility.
Christian undertook many projects aimed at improving the economy of his country. He realized that developing his financial strength was the most effective method of preserving his political independence. Among his many activities, the sound management of his personal finances was to be his most resounding success. Through land speculation (with many interests in north Germany) and by lending money, he accrued a vast personal fortune. In this way, he was able to bind much of the Danish nobility to him politically. For example, from 1618 to 1624 (a time of economic crisis) he provided much needed capital. It was his wealth (or, his "ten tons of gold," as it was called), and the corresponding political independence that it afforded him, that was to make Christian one of the most powerful figures in early 17th-century Europe.
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