EdVI ECONOMY Flashcards
WHAT was the economic situation in England that EdVI inherited?
1) Inflationary pressures
2) Agrarian issues (enclosure, harvest failures, etc.)
3) Taxation
HOW did Somerset’s government affect inflation?
- Financing the war against Scotland continued to debase the coinage
- Basic foodstuffs (bread, cheese, meat) were worst affected
- Heigtened inflationary pressures and added to social distress
WHAT did Somerset do to tackle enclosure?
- Set up a commission to investigate enclosure
- Issued a proclamation against enclosure
- Introduced taxes to try and deter enclosure (e.g. the sheep tax)
WHAT were the consequences of Somerset’s actions against enclosure?
Little was achieved apart from raising the hopes of the poor (which led to frustration when nothing changed) and annoying landowners
WHAT were the consequences of Somerset’s sheep tax?
It mainly put huge financial pressure on small farmers (mostly in the uplands) who had little choice but to rely on sheep, rather than preventing enclosure
HOW did Northumberland improve Crown finance?
- Ended wars with France and Scotland
- Increased revenue from the church ruthlessly (e.g. melted down church plates for bullion)
- Commission produced a detailed analysis of the failings of royal finance
HOW did Northumberland tackle enclosure?
- Enforced anti-enclosure legislation
- Ended the enclosure commissions
- Sheep tax was repealed 1550
- Acts passed to protect arable farming
WHEN was the sheep tax repealed?
1550
WHAT were the consequences of a rise in population under EdVI?
- Increasing prices and rents, decreasing wages
- Vagrancy increased, people saw this as a danger
- Increased unemployment led to social unrest
WHAT laws were passed due to increased vagrancy under EdVI?
Somerset: 1547 Vagrancy Act meant that vagrants had to be branded with a V and sold into slavery (unpopular and never put into effect)
Northumberland: 1552 Poor Law meant that parishes had to raise money to look after the deserving poor
With WHO did Northumberland encourage trade?
Due to problems with the cloth trade in Netherlands, Northumberland encouraged the finding of new trade routes across the world. This included Muscovy (Russian principality) and the Gold Coast, West Africa