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Elizabeth
finances
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Cards (28)
What financial challenge involved previous obligations to pay back money?
Inherited debt
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What financial challenge is caused by rising prices over time?
Inflation
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What financial challenge refers to the expenses incurred by the government?
Cost of government
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What financial challenge is associated with military conflicts?
Cost of war
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What financial challenge refers to the restrictions on government revenue collection?
Limited tax
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What financial challenge involves assessments that do not reflect current property values?
Outdated
tax assessment
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What are the methods of raising revenue during Elizabeth's reign?
Sold crown lands
Parliamentary
tax
Monopolies
Custom duties
Feudal
dues and fines
Administration
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Who were the key figures in administration during Elizabeth's reign?
Sir Thomas Gresham
and
William Cecil
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What significant financial action occurred in 1560?
Recoinage
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By what year had Elizabeth repaid her debt?
1574
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What was established in 1565 that resembled early stock markets?
Royal Exchange
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How much revenue did the book of rates generate annually by the 1590s?
£90,000
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How did Elizabeth's spending compare to Henry VIII's?
She spent
less than
Henry VIII
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What was one way Elizabeth recycled her outfits?
Recycled
outfits
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What were the aspects of courtly pageantry during Elizabeth's reign?
Display of wealth
and power
Elaborate ceremonies
Use of
costumes
and decorations
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What was one form of patronage used by Elizabeth?
Monopolies
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Who was associated with cards in Elizabeth's patronage?
Walter Raleigh
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What significant property is associated with Burghley House?
Land
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What were the military financial challenges faced by Elizabeth?
Delayed payments
to
troops
Unpaid soldiers mutinied after Tyrone rebellion
Failure to pay Earl of
Essex's
troops led to downfall
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What was the result of Elizabeth delaying troop payments?
Mutinies
among unpaid soldiers
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What rebellion occurred from 1594 to 1603 in Ireland?
Tyrone rebellion
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What was the consequence of not fully paying the Earl of Essex's troops?
His
political downfall
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How much land did Elizabeth sell to cover expenses?
Over
£600,000
worth
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What was the income from crown lands during Elizabeth's reign?
Stagnant
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What were the taxation inefficiencies during Elizabeth's reign?
Outdated
property assessment system
Wealthy individuals unpaid
Parliament resisted tax increases
Reliance on
forced loans
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How much did Elizabeth raise in subsidies from parliament for the Spanish war?
£300,000
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Why did Elizabeth rely on forced loans?
Parliament
resisted
tax increases
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What was the impact of the outdated property assessment on taxation?
Wealthy individuals remained
unpaid
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