A2 FP1, Mary I's economic and social policies Flashcards
(9 cards)
Conceptual Awareness
What problems pushed up inflation during Mary’s Reign?
- Rapid increase in population
- Debasement of the coinage
- Harvest failures in 1555 and 1556, caused severe food shortages and a severe strain on real wages.
- Sweating sickness outbreak in 1557 and 1558
How did May reform revenue?
The 1552 commission into the streamlining of financial administration was followed up, the Exchequer gained its pre-eminence with it handling 75% of the Crown’s finances (system lasted into the next century) ; more could have been done but the treasurer didn’t want to radically change finances.
How did Mary reform royal finances?
A survey of crownlands lead to an extra £40,000 per annum, Custom rates were increased for the first time since 1502. However these changes came too late to benefit Mary but, nevertheless, benefited Elizabeth
How did Mary reform the Navy?
Six new ships were built, leaving Elizabeth an efficient navy. There was a reorganisation of the navy, with £14,000 budgeted to navy and a new method of raising troops was devised ; treasure of the Navy created and occupied by Gonson.
How did Mary reform the militia?
Act of taking up the musters helped to modernise weapons.
How did Mary reform the coinage?
By 1553 both good and bad debased coins were back in circulation, however there was economic hardship 1556- 1557 and recoinage didn’t happen until 1560.
What and when was the new book of rates?
Book of Rates 1558 improved the crown income from custom duties.
Elizabeth reaped benefit.
How did Mary tackle poor relief?
1556-1558, flu epedemic and harvest failures as well as taxation for war leads to a period of depression. There was an emphasis on laws against grain hoarders and encouraged to convert pasture to tillage.
What was the new Court of Exchequer?
The Court of the Exchequer took over both the Court of First Fruits and Tenths and the Court of Augmentations, long term finances of the crown boosted by plans for recoinage drawn up in 1556 and 1558.