Economic change and its social Impact

Question 1

Briefly describe Mary’s economy success?

Answer 1

it had a mixed economic record

Question 2

What was the long term factor in increasing inflation?

Answer 2

Continued pressure on demand from population growth

Question 3

What was the medium-term factor for inflation?

Answer 3

debasement of the coinage

Question 4

What was a short term factor for inflation?

Answer 4

the harvest failures of 1555 and 1556 which brought severe food shortages and strain on real wages

Question 5

What years were the harvest failures?

Answer 5

1555 and 1556

Question 6

What happened as a result of the harvest failures of 1555 and 1556? (2)

Answer 6

• severe food shortages

- strain on real wages

Question 7

What years did the ‘sweating sickness’ (influenza) sweep across the country,the worst toll since the Black Death?

Answer 7

1557 and 1558

Question 8

In the long term, what did Mary do which benefitted the Crown financially ?

Answer 8

The Crown made several improvements to financial administration

Question 9

What prevented any of Northumberland’s ideas to improve the administration of Crown Finances?

Answer 9

Edward’s premature death

Question 10

What improvements to the administration of Crown Finances did Northumberland sought before Edward’s premature death?

Answer 10

to setup a commission to investigate the shortcomings of the system and to recommend reforms

Question 11

Which two courts did the Court of Exchequer take over?

Answer 11

Court of First Fruits and Tenths

Court of Augmentations

Question 12

When were the
Court of First Fruits and Tenths
Court of Augmentations
set up?

Answer 12

1530’s

Question 13

why were the
Court of First Fruits and Tenths
Court of Augmentations
set up in the 1530’s?

Answer 13

to deal with the new ‘revenue streams’ which the Crown acquired

Question 14

What did the Court of First Fruits and Tenths primarily deal with in the 1530’s?

Answer 14

the funds which had previously gone to the papacy

Question 15

What did the Court of Augmentations deal with?

Answer 15

income from monastic lands

Question 16

Under who’s control was financial administrations competent?

Answer 16

Treasurer Winchester

Question 17

What was Mary’s one big financial mistake for cheap popularity?

Answer 17

the remitting of the final part of Edward’s last subsidy

Question 18

What was a success with the level of royal indebtedness which rose?

Answer 18

it did not make any dramatic impacts, surprising given England’s war with France

Question 19

For a government at war, how was its financial record?

Answer 19

satisfactory

Question 20

What was long term security for Crown finances boosted by?

Answer 20

the plans for recoinage drawn up from 1556-1558 but implemented under Elizabeth

Question 21

What years were the plans for recoinage drawn up which were implemented under Elizabeth’s reign?

Answer 21

1556-1558

Question 22

What was the primary reason for inflationary pressures?

Answer 22

because of the proliferation of debased coins in circulation

Question 23

What enabled the efficient implementation of recoinage in the reign of Elizabeth?

Answer 23

the thoroughness of preparation under Mary’s reign

Question 24

Other than the preparations for recoinage under Mary, what else did Elizabeth reap the benefits of?

Answer 24

the introduction of a new Book of Rates 1558

Question 25

What year was the new Book of Rates?

Answer 25

1558

Question 26

What did the new Book of Rates 1558 do for Elizabeth?

Answer 26

this raised customs revenue dramatically

Question 27

Why was there a huge morality rate between 1556-1558?

Answer 27

due to the influenza epidemic