2447898
Description
Mind Map by BethanMayStevenson, updated more than 1 year ago
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Created by BethanMayStevenson
over 9 years ago
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Mary I-
Economic
- Progress was made with
revenue administration
- Some of Northumberland's
recommended reforms were
implimented by Mary in 1554
- Court of Exchequer took
over both the Court of
First Fruits and Tenths
and the Court of
Augmentations
- Some of Northumberland's
recommended reforms were
implimented by Mary in 1554
- more efficient
augmentation methods
into Exchequer
- Although at war with
France, the increase in
debts wasn't drastic
- competent economy
- remitted the final part
of Edward's last subsidy
- brought cheap popularity
- financial cost
- brought cheap popularity
- Mary's financial records
were, according to Penry
Williams 'at least adequate'
- competent economy
- Book of Rates introduced in 1558
- badly needed
- last fixed in 1507
- last fixed in 1507
- fixed the level of duty
to be paid on certain
products
- raised customs
revenue
dramatically
- no significant amendments
introduced by Elizabeth
- Elizabeth
reaped the
benefits
- Elizabeth
reaped the
benefits
- Alan Smith argues that the
Marian financial reforms
'were fundamental for
Elizabeth's solvency and
thus for the Elizabethan
achievements as a whole'
- badly needed
- Plans for recoinage drawn up
from 1556-58
- boosting security of Crown finances
- implimented by
Elizabeth
- lack of time
- lack of time
- boosting security of Crown finances
- Mary prepared a good
economy for Elizabeth
- 'able to bequeth to
Elizabeth a precious
legacy'-L.Porter
- began her reign with debts
of £185,000
- only increased to £300,000
by end of reign
- through war
- through war
- only increased to £300,000
by end of reign
- D.Loades regarded Mary's
final debt as a 'considerable
achievement'
- 'able to bequeth to
Elizabeth a precious
legacy'-L.Porter
- By 1559, the purchasing power of an
agricultural workers wages had
dropped to 59% of what it was 50
years before
- grain prices had increased
- population had also dropped
- grain prices had increased
- significant naval and
militia reforms
- 6 new ships built
- many required repairing
- many required repairing
- Crown finances budgeted
for a peacetime allocation
of £14,000 to the navy
- Elizabeth significantly
reduced this to £12,000
- system worked efficiently
- reforms laid the basis for
Elizabeth to win the Spanish
Armada in 1588
- Elizabeth significantly
reduced this to £12,000
- 6 new ships built
- cost of garrisoning removed
- lost Calais in war
- lost Calais in war
- 1555 and 1556- heavy
rain caused the worst
harvest failures of the
century
- couldn't control this
- couldn't control this
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