1D.7.4.5 Economic Impact of Wars

• The Nine Years' War, fought from 1688 to 1697, cost approximately 50 million pounds.
• The Nine Years' War led to higher taxes in England.
• Order the wars fought during the reign of William III and Mary II chronologically.

  1️⃣ Nine Years' War

  2️⃣ War of Spanish Succession
• The War of Spanish Succession cost approximately 62 million pounds.
• Match the economic policy with its description and impact during the reigns of William III and Mary II.

  Increased Taxation ↔️ Raised taxes on land and trade ||| Funded military expenses, increased cost of living

  National Debt Expansion ↔️ Borrowed from private lenders ||| Covered wartime costs, created debt burden

  Stimulation of Industries ↔️ Government spending on military supplies ||| Boosted shipbuilding and related fields
• The primary economic policies during William III and Mary II's reign focused on financing wartime campaigns through increased taxation and national debt expansion
• Increased taxation during the reign of William III and Mary II funded military expenses but also increased the cost of living.
• The Nine Years' War increased the national debt to 16 million pounds.
• The War of Spanish Succession raised the national debt to 36 million pounds.
• William III and Mary II's reign faced significant financial strains due to extensive military campaigns
• The Nine Years' War and the War of Spanish Succession were the primary conflicts during the reign of William III and Mary II.
• The wars fought during William III and Mary II's reign led to higher taxes, increased national debt, and stimulated specific industries
• Government spending on military supplies during wartime stimulated shipbuilding and related industries.
• Match the economic policy with its description during William III and Mary II's reign:

  Increased Taxation ↔️ Raised taxes on land, trade, and property

  National Debt Expansion ↔️ Borrowed large sums from private lenders

  Stimulation of Industries ↔️ Government spending on military supplies
• National debt expansion during William III and Mary II's reign covered wartime costs but created a substantial debt burden
• The financial strains during the reign of William III and Mary II were primarily due to the Nine Years' War and the War of Spanish Succession.
• Order the events that led to increasing national debt during William III and Mary II's reign:

  1️⃣ Nine Years' War (1688–1697)

  2️⃣ National debt increased to 16 million pounds

  3️⃣ War of Spanish Succession (1701–1714)

  4️⃣ National debt increased to 36 million pounds
• What was the primary cause of national debt expansion during the reign of William III and Mary II?

  Wartime costs
• Government spending on military supplies and services stimulated industries such as shipbuilding
• Increased national debt and higher taxes led to financial strains during William III and Mary II's reign.
• Which wars contributed to significant financial strains during the reign of William III and Mary II?

  Nine Years' War and War of Spanish Succession
• Match the war with its financial cost and impact on the economy:

  Nine Years' War ↔️ 50 million pounds, increased debt

  War of Spanish Succession ↔️ 62 million pounds, stimulated industries
• What was the financial cost of the Nine Years' War during William III and Mary II's reign?

  50 million pounds
• The War of Spanish Succession cost 62 million pounds and stimulated industries
• The Nine Years' War and War of Spanish Succession led to higher taxes and increased national debt.
• What were the primary effects of military campaigns on trade and commerce during William III and Mary II's reign?

  Disrupted trade routes, stimulated domestic industries
• Order the impacts on trade and commerce during William III and Mary II's reign:

  1️⃣ Disruption of trade routes

  2️⃣ Boost from military supply contracts

  3️⃣ Increased colonial resource access
• Match the type of tax with its description and revenue generated:

  Land Tax ↔️ Assessed on property values, 2 million pounds

  Trade Tariffs ↔️ Levied on imported goods, 1.5 million pounds

  Excise Duties ↔️ Applied to domestic goods, 2 million pounds
• Annual tax revenues during William III and Mary II's reign rose by approximately 60%
• What were the major consequences of wartime spending on the national budget during William III and Mary II's reign?

  Budget deficits and increased debt
• The national debt reached 36 million pounds by the end of William III and Mary II's reign.
• How did industry change from pre-war conditions to wartime conditions during William III and Mary II's reign?

  Slow growth to boosted by military demand
• Order the key events during William III and Mary II's reign:

  1️⃣ Glorious Revolution (1688)

  2️⃣ Bill of Rights (1689)

  3️⃣ Establishment of Bank of England (1694)
• Which war stimulated industries during William III and Mary II's reign?

  War of Spanish Succession
• The government borrowed heavily from private lenders during William III and Mary II's reign, increasing the national debt
• What was the financial cost of the Nine Years' War during William III and Mary II's reign?

  50 million pounds
• The War of Spanish Succession expanded the national debt but stimulated some industries.
• The Nine Years' War cost 50 million pounds and led to increased national debt
• Which two wars caused significant financial strains during the reign of William III and Mary II?

  Nine Years' War, War of Spanish Succession
• The Nine Years' War cost more than the War of Spanish Succession.

  False