Financial Reforms Flashcards
1
Q
When did Mary draw up a plan for recoinage?
A
1556-1558
2
Q
What was the impact of the plan for recoinage?
A
Not implemented until Elizabeth came to the throne - added long-term security to crown finances
3
Q
What else did Mary reform?
A
The Book of Rates in 1558 - Elizabeth reaped these benefits
4
Q
What was the impact of the reformed book of rates?
A
Customs revenue increased dramatically under Elizabeth
5
Q
How much did customs revenue grow as a result of Mary’s reformed book of rates?
A
1558 - less than £30,000
1560 - more than £80,000
