Elizabethan Economy and Finance Flashcards
What was the biggest development in internal trade during Eliz’s reign?
Trade in coal from the Tyne to the Thames
Which English sailor founded the slave trade?
John Hawkins
Between what years of Eliz’s reign were there bad harvests?
1594-97
How many harvests in Eliz’s reign were ‘poor’?
9 out of 44
What was England’s financial position by 1585?
£300,000 debt from Mary paid off, £300,000 reserve built up
What was a by-product of English exploration under Eliz?
Antagonising the Spanish
How much debt did Elizabeth leave at the end of her reign?
£350,000
By what percentage did the price of food inflate under Eliz?
75%
Which trading companies were set up and where did they trade?
Muscovy - Russia
Eastland - Baltic
Levant - Ottoman Empire
East India Company - Asia; India
How did farmers benefit under Eliz?
A rise in agricultural prices and living standards, especially in the South-East
What did the Act for Maintaining Tillage do?
1563, prevented land from being converted to pasture if used as tillage for 4+ years.
Where were the poorest counties in England under Eliz?
The North and the West Midlands
What were the main changes in English trading patterns under Eliz?
Main market for English wool moved from Antwerp to Amsterdam
How much income was generated from selling crown lands under Eliz?
£600,000
What were monopoly rights?
When the crown granted someone exclusive rights over the sale/trade of a product
