FINANCE AND ECONOMY Flashcards
What was the population of England by 1601?
4.10 million
In which parts of the UK was the cloth industry a major source of employment?
Gloucestershire, Wiltshire and East Anglia
Which of these is NOT a reason why new markets for English cloth became a major consideration from 1551 onwards.
- Philip II was no longer interested in Elizabeth and marriage so stopped Spanish trade
- The outbreak of the Dutch Revolt in 1566 meant the English could no longer trade through Antwerp
- The decline of Antwerp as a port due to financial instability
- 92% of cloth exported from Britain needed to be finished and a market was needed for this.
Philip II was no longer interested in Elizabeth and marriage so stopped Spanish trade
Which of these was NOT a direct way of raising money for war?
- Ship money (levied on coastal towns)
- Coat and conduct money (levy to meet the cost of uniforms)
- Purveyance (requisitioning of goods for soldiers below the market price)
- Debasing the coinage (mixing lesser metals to reduce the bullion content of coins)
Debasing the coinage (mixing lesser metals to reduce the bullion content of coins)
Elizabeth’s 19 years of warfare between 1585- 1604 cost her….
£4.5 million
Elizabeth inherited debt at the start of her reign following Mary’s war with France. This debt was placed at:
£227,000
The Purpose of the Statute of Artificers passed in 1563 was to deal with the shortage of labour by…
making apprenticeship compulsory in all urban crafts
The 1598 Act for Poor Relief required all parishes to appoint overseers of the poor, who were to find employment for the able poor and to provide relief for the poor. This act was passed as a result of…
The Oxford Uprising 1596
Extraordinary revenue is the term used to describe….
one off taxes agreed by parliament usually for the defence of the realm
Who was Lord Chancellor up to 1572?
William Paulet
In what year did Parliament petition Elizabeth to deal with the growing crisis of ‘Monopolies’?
1597
Which of these was NOT an instruction to JPs in the ‘Book of Orders’ (the document printed from the middle of E’s reign during times of plague and famine)?
- To ensure those with stocks of corn took them to market
- To ensure that searches for hoarded grain were carried out
- To ensure that corn was to be sold at prices the poor could afford
- To ensure the reselling of corn in the first hour of trading so the rich could make more profit
To ensure the reselling of corn in the first hour of trading so the rich could make more profit
Which of these is NOT a reason used to explain why Elizabeth’s finances did not become more secure?
- Ordinary revenue was allowed to stagnate (stay still - did not increase)
- Parliamentary taxation was not reformed
- Cecil was not the right man for the job
- Paying officials reduced their efficiency
Paying officials reduced their efficiency
) Some revenue did not find its way back to the Exchequer. Elizabeth rewarded her favourites by allowing them to use revenue from their offices. Both Winchester and Leicester owed the Crown…
£70,000
The most significant trading company, the East India Company, was founded by 218 London merchants in what year?
1600
