Mid-Tudor Crisis - Economy

Question 1

What did Somerset carry on from Henry VIIIs reign?

EDWARD

Answer 1

Debasement

Question 2

EDWARD

How much income was brought in under Edward and what did it do?

EDWARD

Answer 2

• £530,000
• Made inflation worse

Question 3

What was the main reason for the Chantries Act in 1547?

EDWARD

Answer 3

Financial Gain

Question 4

When was the poor harvest?

Answer 4

1548

Question 5

When did the cloth trade collapse?

EDWARD

Answer 5

1551

Question 6

What was the Muscovy Company and when was it set up

EDWARD

Answer 6

Trade company set up by Sebastian Cabot in 1552

Question 7

What affected harvests from 1555-1556

MARY

Answer 7

Heavy rain caused the worst famine in a century

Question 8

Epidemics (1556-1558):

MARY

Answer 8

Influenza and typhus killed 1/10th of the population

Question 9

How much did agricultural wages drop by?

MARY

Answer 9

59%

Question 10

The Book of Rates:

MARY

Answer 10

• Introduced May 1558
• Improve Crown income from custom duties
• All goods leaving the country were taxed as past of ordinary revenues

Question 11

How did Mary use the privy council to establish royal finances?

MARY

Answer 11

used them to deal with specialist issues and the daily running of the government