Elizabeth 1- stabilising the currency-RG1

Question 1

Regarding the debasement of the coinage, what was announced early in Elizabeth’s reign?

Answer 1

A scheme was announced for the withdrawal of debased coins and their replacement by soundly mint ones

Question 2

What did Elizabeth’s debasement of the coinage ensure?

Answer 2

It ensured that only sound coins were in circulation and the government wisely did not resort to debasement throughout the rest of the century

Question 3

Although after the debasement of the coinage, prices still continued to rise but what was a positive for the government?

Answer 3

The government could no longer be held responsible for the problem as they had tried to deal with it