A2 FP1 : Mary I, Economic Changes, changes and impact. Flashcards
Conceptual Awareness
What type of economic situation did Mary inheret in 1553?
Mary inhereted a serious economic situation in 1553, it grew worse as her reign continued culminating in a serious distress in 1556-1558.
There were bad harvests and epidemics including the plague.
Conceptual Awareness
What were some of the long-term causes of inflation?
- Population growth combined with a limited increase in productivity (particularly in Agriculture).
Conceptual Awareness
What were some of the medium-term causes of inflation?
Debassement of the coinage made inflation worse.
Conceptual Awareness
What were some of the short-term causes of inflation?
- Harvest failures in 1555 and 1556 (severe food shortages, strain on real wages for the poor).
- Sweating sickness - 1557 and 1558
- High taxation to pay for war.
Successes
What was introduced in 1552 that was followed up in Mary’s reign?
1552 commission was followed up to streamline the financial administration by reducing the number of individual money, receiving departments. The Exchequer gained its pre-eminence handling 75% of the crown’s finances.
Successes
What did a survey of the crown lands lead to?
An increase of £40,000 per annum.
Successes
When was the new book or rates introduced - what did it result in?
1558, New book of rates increased custom revenues from £29,000 to £85,000
Beneficial in the long-term but did not impact Mary directly
Successes
How many new ships were built in Mary’s reign?
6 new ships built and many others repaired.
Successes
How much money was budgetted to the Navy?
£14,000
What did Mary’s Naval and military reforms lead to in the long-term?
The success in the Spanish Armada.
Successes
Name another militia reform.
Methods of raising troops was reorganised by parliament - John Guy states ‘a landmark in English Military organisation.’
