Marys Economy

Question 1

What was the economy like at the start in 1553??

Answer 1

Expensive FP but reducing.
Long term debasement of coin
Church Land sold cheap to gentry.

Due to SS to N

Question 2

What changes did she make??

Answer 2

Changes made to the exchequer.
Lord treasurer was Winchester.
Plans for recoinage 1556-1558
Book of rates 1558
Financial loss of war with france.
Licensed beggars wear badges.

Question 3

What errors happend during her reign??

Answer 3

Harvest Failure 1555 + 1556
Sweating Sickness 1557 - 1558

Question 4

What did the errors mean??

Answer 4

Harvests meant lower wage and higher food prices.
Sweating sickness was biggest loss of life since the black plaque.

Question 5

What did she do to help the poor??

Poor relief

Answer 5

Licensed beggars have to wear badges.

Question 6

How was Mary overall across her reign for economy??

Answer 6

Good for financial reforms as it benefited the country long term.
Population increased meaning there is a higher demand for goods.

Bad cause of inflation due to debasement.
Harvest failures 1556-1557
Influenza 1157-1558

Elizabethwould take a lot of the credit for her actions like bolstering the navy and financial reforms.