LIZZY THE FIRST Flashcards
(11 cards)
What economy did Elizabeth inherit?
Elizabeth inherited a very failing economy.
(it was pretty bad -Fred)
Mary had used it to try and restore Catholicism.
What impact did Henry VIII have on the economy?
Henry VIII had closed the monasteries, which left the poor without any help.
What were the main issues in Elizabeth I’s economy (1558-1603)?
- A bad series of harvests (lack of food - 1560s/70s)
- Inflation (all over Europe)
- Increasing population (yet decreasing food)
- Wages did not rise fast enough.
What was the effect of enclosure on employment?
Enclosure led to unemployment as farmland was fenced for more profitable livestock, reducing the need for workers.
What is enclosure?
Enclosure is putting fences around previous farmland to trap animals for meat, dairy, and wool, which were more profitable than crops.
How did growing trade affect England?
With fewer farmers, towns created jobs based on local raw materials (Coal, Iron, Tin), making England an attractive trade partner.
What was the purpose of stock companies like the East India Trade Company?
Stock companies allowed investors to share the risk of trading, so if one ship sank, only part of the business would fail.
How did Elizabeth support London trade?
Elizabeth gave licenses to docks and quays for foreign/trade ships, benefiting everyone involved in the trade.
What are the categories of the poor according to the Poor Laws?
- Undeserving Poor: Lazy/Violent/Able to work but choose not to.
- Deserving Poor: Young, Old, Sick.
What was the Vagabonds Act of 1572?
The Vagabonds Act stated that undeserving poor were arrested and marked, with a second arrest leading to execution.
What did the Act for the Relief of the Poor (1576) require?
The Act required MPs to find jobs for local poor, with those caught without work sent to a House of Correction.
