Elizabeth Economic Financial Social

Question 1

How much debt did Elizabeth inherit from her sister in 1558?

Answer 1

£227,000

Question 2

What impact did the Book of Rates have?

Answer 2

Increased custom duties by 75%

Question 3

Who were Elizabeth’s chief financial advisers at the start of her reign?

Answer 3

Paulet
Sir Thomas Gresham

Question 4

How much money did Elizabeth have as a surplus by 1584?

Answer 4

£300,000

Question 5

How much did Elizabeth increase the rents on Crown Lands by?

Answer 5

From £86,000 to £119,000

Question 6

How much could Elizabeth raise through taxation?

Answer 6

£140,000

Question 7

How did Elizabeth try to increase her income?

Answer 7

Raise rents on Crown Lands
Recusancy fines
Keep bishoprics empty
Summer progresses
Taxation if no alternative

Question 8

Why did tension develop between England and Spain after 1560?

Answer 8

Religion
Competition over the New World
Antwerp

Question 9

What was the consequence of Elizabeth’s decision to seize the Genoese bullion ship in 1568?

Answer 9

A trade embargo

Question 10

What was Spanish Fury?

Answer 10

Spanish troops mutinied as they had not been paid.

Question 11

What was the consequence of Spanish Fury?

Answer 11

The Dutch united against the Spanish.

Question 12

When did Drake successfully circumnavigate the world?

Answer 12

1577

Question 13

What were the terms of the Treaty of Nonsuch, 1586?

Answer 13

Elizabeth was committed to help the Dutch against the Spanish. Granted £126,000 p.a.

Question 14

What was the impact of the attack at Cadiz in 1587?

Answer 14

It delayed the Armada

Question 15

What economic problems did England face in the 1500s?

Answer 15

• Debasement
• Inflation
• Rising prices

Question 16

What methods did Elizabeth use to try to control inflation?

Answer 16

• Revaluing the coinage
• Enforcing maximum prices
• Fish Days

Question 17

What were purveyances?

Answer 17

Monarch had the right to buy products below market rates.

Question 18

Give three examples of how Elizabeth tried to widen trade in Europe?

Answer 18

*Antwerp
* Moscovy Company
* Eastlands Company
* Levant Company

Question 19

Where did Elizabeth try to settle in the Americas?

Answer 19

Virginia

Question 20

When was the East India Company formed?

Answer 20

1600

Question 21

How much did the population increase between 1540 and 1601?

Answer 21

2.8 million to 4.1 million

Question 22

What were the terms of the Statute of Artificers, 1563

Answer 22

• Set hours of work and maximum wages
• People under 30 could be compelled
  to work on the land.
• Apprenticeships should last 7 years

Question 23

What were the terms of the Vagabond Act, 1572?

Answer 23

• Poor Relief contributions were compulsory
• Begging had to be licensed
• Ear boring was carried out on those who begged illegally.

Question 24

What were the terms of the Act for the Relief of the Poor, 1576?

Answer 24

• Licenses were needed in order to beg.
• Raw materials were provided for the “idle poor”
• Persistent illegal begging would result in a removal to a House of Correction.

Question 25

What were the key terms of the Act for the Relief of the Poor 1598?

Answer 25

• Church was no longer responsible for the poor
• Distinguished between deserving and undeserving poor.

Question 26

How much did the war with Spain cost?

Answer 26

£4.5 million

Question 27

When did Elizabeth have to deal with the issue of monopolies?

Answer 27

1597 and 1601

Question 28

What was the main product that England traded during this period?

Answer 28

Wool

Question 29

When was Hawkin’s first slave voyage?

Answer 29

1562

Question 30

Why did vagrancy increase during this period?

Answer 30

• Rising population
• Impact of wars