Economic Change

Question 1

How did Mary have a mixed economic record?

Answer 1

On one hand, various converging trends continued to produce inflation:
- Continued pressure on demand brought in by rapid increase in population
- Impact of debasement in coinage
- Harvest failures 1555 and 1556 = severe food shortages + strain on real wages for poor
- ‘Sweating sickness’ (influenza) 1557-1558, death toll worst since black death

On the other hand the crown made several improvements in financial administration; in the longer term the country largely benefitted from these.

Question 2

How was progress made through revenue administration?

Answer 2

• Duke of N’land set up commission to investigate shortcomings of system and recommend reforms
• EdVI premature death prevented any recommendations being implemented in his reign.
• Some were in 1554 even though person responsible - Walter Wildmay - regarded with suspicion on religious grounds: Court of Exchequer took over both Court of First Fruits and Tenths and Court of Augmentations but adopted some of more recent courts’ superior methods
• Under Lord Winchester, financial administration was competent.

Question 3

What was the one big mistake Mary made?

Answer 3

• Remitting (cancel/send back) final part of EdVI’s last subsidy
• This bought some cheap popularity but at some financial cost.

Question 4

What was finance like during war with France?

Answer 4

• For a govt at war, financial record was satisfactory
• Long term security of crown finances boosted by plans for recoinage draw up from 1556-8 but implemented under EI.
• Thoroughness of preparation under Mary which enabled efficient implementation under EI.

Question 5

How did Elizabeth reap benefits?

Answer 5

• Introduction of a new Book of Rates 1558
• Raised customs revenue dramatically

Question 6

How was Mary’s government more actives in areas relating to poor relief?

Answer 6

Response to extent of problems country faced 1556-8
- Huge mortality rate from influenzas
- Harvest failures
- Taxation high to pay for war with Fr

Particular emphasis placed on enforcement of laws against grain hoarders
- Strong encouragement to convert pasture land to tillage

Difficult to assess the effect of these measures