finances

Cards (28)

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    Outdated tax assessment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    • Outdated property assessment system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