Mary I Economic Change Flashcards
How did inflation increase in Mary’s reign?
Rapid increase in population= continued pressure on demand
Debasement of the coinage
What did harvest failures in 1555 and 1556 bring?
Severe food shortages
Severe strain on real wages for the poor
What did the sweating sickness of 1557 and 1558 bring?
Devastating death toll
What did the duke of Northumberland set up that was a financial success?
A commission to investigate the shortcomings of revenue administration
What financial reform was implemented in 1554?
The court of exchequer took over the court of first fruits and tenths and the court of augmentations
What was Mary’s major financial mistake?
She remitted the final part of Edwards last subsidy
How was the security of crown finances boosted?
The plans for recoinage drawn up from 1556 to 1558
How did Marian government offer poor relief?
Laws enforced against grain hoarders
Encouragement to convert pasture land to tillage
