Elizabethan England

• What financial problems did Elizabeth face? (FIGURES)1558

  The crowwn was £300 000 in DEBT anual income of about £280 000

  Annual income of about £280 000

  Over £100 000 Antwerp Exchange

  INTEREST RATE 14%
• What put Elizabeth in a difficult financial position? (beginning)1558

  Mary 1st sold off land to pay for war with france

  (her husband was king of spain)

  sooo crowns income from rent was failing

  Also the coin was debased and devalued because the amount of its silver and gold content was decreased to pay for war

  LEAD TO INFLATION