Elizabethan Legacy Flashcards
What were the 4 key problems left for James in 1603?
War against Spain
Debt
Inflation
Selling crown lands
Why had the Spanish Armada begun?
The Spanish king, King Phillip II, saw himself as the rightful successor to the British throne as as he had been married to Elizabeth’s predecessor Mary I.
Why was Spain a considerable threat?
It was one of the world’s leading powers at the time due to its empire in Central and South America.
When was the Spanish Armada defeated?
1588
After the defeat, how much did rebuilding the navy cost Britain?
Cost them around £161,000 .
In order to support the Dutch against Spanish invasion, how much money was spent?
An estimated £2 million
What two other reasons were there for spending so much money to defend from Spain?
- Efforts to suppress the Irish supported by Spain cost million
- A nationwide fear of Spanish invasion meant an increase of expenditure on coastal defences.
What was Elizabeth’s debt estimated at by her death?
Around £400,000
What did this mean for James?
He gained immediate financial challenges which forced him to seek revenue through unpopular means and increased reliance on Parliament.
What is inflation?
A general rise in prices impacting both the cost of living and cost of governance.
What did this inflation mean for the population?
Wages did not increase at the same pace to match price of goods leading to a decline in living standards.
Elizabeth selling crown lands meant what for the money James was inheriting?
The reduction of long-term revenue base of the monarchy meaning a diminished annual income.
What did this mean James had to resort to?
Seeking alternative revenue sources becoming more reliant on parliamentary grants and subsides.
What did this mean for his relationship with parliament?
It strained his relationship as members were often reluctant to grant funds without securing concessions.
What did James have to introduce to make up for the sold crown lands?
Imposed fines and seeking unpopular monopolies.
