MARY I ECONOMY Flashcards
1
Q
WHAT problems did ordinary people face under Mary I that affected the economy?
A
- Harvest failures in 1555 and 1556, leading to food shortages
- Sweating sickness in 1557-8
2
Q
WHAT was the inflationary situation under Mary I?
A
Inflation continued to increase due to:
* Population increase
* Increased debasement
* Harvest failures
3
Q
WHAT financial reforms did Mary I introduce during her reign?
A
- The Court of Exchequer took over the Court of First Fruits and Tenths AND the Court of Augmentations, and used their superior methods.
- More efficient financial administration under Winchester
- Plans for recoinage 1556-8
- EdVI’s subsidy was fully remitted (lost money, but made her popular)
4
Q
WHAT was the impact of Mary I’s financial reforms?
A
While many had little impact during her reign, Elizabeth benefited from the changes after Mary died.
5
Q
WHAT poor relief did Mary I introduce for labourers?
A
- Plans to enforce laws against grain hoarding
- Encouragement to correct pasture land to tillage (move from animals to crops)
