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Elizabeth I
Elizabeth I
Society + Economy:
- 1550s: 3M vs 1603: 4M population → London 130-150K population
- 2nd largest: Norwich 15K → 90% lived in villages
- Higher fertility rate (34.5/1000) + lower death rate (25/1000)
- Higher life expectancy - 40yrs
- By 1597 acute food shortage → famine in some parts
- Decline of property owning aristocracy + rise of gentry in wealth (monopoly) + socially
→ 60% of aristocracy were in financial ruin by 1603 (over spent)
- Decline in “mere” gentry → small scale landowners suffered from inflation
- New land from dissolved monasteries + chantries
- Rising population → greater wealth from agriculture
- COPYHOLDERS
Causes of inflation;
- Debasement of coinage (secretly in 1542-44) + publicly 1544-45
- Reduced bullion in coins → greater supply of money
- H8 + Somerset wars: £3.6M cost of 1540s wars → tax £1M + monastic land £1M →
closed £.16M gap by debasing gold + silver in coins
- Population increase → more demand for food than supply
- Poor harvests 1594 → rise in corn prices
- HOWEVER: population pressure affected all of Western Europe
- Potosi Pero: Spanish mines in New World→ increased bullion supply
- Higher govt expenditure: war with Spain + Irish Rebellion → higher demand
DEC 1560: ordered all debased money to be returned + replaced with greater silver content →
returned quality to pre-debasement 1542-44 + finished in 1561
- Limited money supply + re-established public confidence
- 1568 Genoese loans - Elizabeth acquired silver
1563 Statute of Artificiers: govt attempted to limit demand by controlling wages
- Wage limits for skilled workers
- HOWEVER: reappearance of inflation in 1590s after Spanish war = fall in
living standard of skilled workers + higher cost of living
Response to Poverty + Vagrancy:
- Norwich + Ipswich + Cambridge introduced laws for poor
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Causes of Poverty:
- Population rise 43% between 1550 and 1600 → pressure on scarce food
- 1590s: harvest failure caused famine/ near famine (dearth) conditions
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Consolidation of power:
- Mary’s councillor’s accepted her accession
- 17 Nov 1558: Nicholas Heath (Mary’s Lord Chancellor + Archbishop
of York) proclaimed her succession
- Within few days: 9 of Mary’s councillors assured loyalty to Liz.
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- Rapid coronation: 9th Jan 1559
1591 Lancaster
1595
1600
1603
Threats + Opposition: