Mary Social and Economic Flashcards
Who was Lord Treasurer?
William Paulet
What did Mary use to manage finance?
The Exchequer
What did the Exchequer incorporate?
Court of Augmentations and Court of First Fruits
What percentage of crown income was Exchequer responsible for?
75%
How did crown lands increase finance?
Rents were re-evaluated- added 40,000 per year
How did New Book of Rates increase finance?
There was a fixed duty level to be paid on products
Why was a new book of rates needed?
Levels of duty were last fixed in 1507, and products were still taxed well below the levels of inflation
How much higher were the new rates?
100% higher
Social problem 1555-6?
Heavy rain caused the worst harvest failures- grain prices increased and widespread famine
Social problem 1556-8?
Outbreak of typhus epidemic was followed by influenza outbreak- killed 1/10 people
What did the population reduce by in 1556-61?
5%
Social problem 1559?
Agricultural purchasing power reduced because wages were 59% of what they were 50 years ago
Why can Mary not be blamed for hardship of ordinary people?
Her government policies were just as effective as any contemporary policy would have been
What was Court of Augmentations?
Used to gain greater control of forme Roman Church land
How did Mary attempt to deal with financial problems?
1556-58 plans to reissue the coinage were drawn up but these were not implemented until the reign of Elizabeth
