The administrative historian T. F. Tout has speculated that a reason for the Wardrobe's increasing influence was its "new and elastic" nature: it was not hidebound by restrictive traditions or customary ways of working. Moreover, it was able to respond quickly in times when speedy expenditure was required – most especially in time of war – and with a flexibility which suited both the monarch and the nascent powers of English government. It did so largely by securing loans, on the basis of its valuable assets and treasures, from Italian bankers (the Riccardi and the Frescobaldi). In this way the Wardrobe became an independently powerful financial office.