Economic and Social Conditions

Economic Conditions under Mary I

1. Devaluation and a loss of confidence in the English currency due to the debasement of coinage.
2. Economic depression with rising prices and rising unemployment.
3. Flooding caused by persistent rainfall in 1555 and drought in 1556 brought poor harvests leading to famine and starvation.
4. Sweating sickness in 1558 left thousands dead.

Debased English shilling

How did Mary I handle these issues?

1. Plans were drawn up to reform the currency and withdraw the debased coins.
2. The Muscovy Company was granted a Royal Charter in 1555 to open up new trade routes and find new markets for English goods.
3. The Book of Rates was revised and detailed the customs duties that were to be levied on imports and exports.
4. A commission was organised to investigate the shortcomings of the Crown's finances and to recommend reforms.
5. The passing of the 1555 Poor Act, required licenced beggars to display badges. The act was an extension of the Poor Act of 1552.
6. The enforcement of laws against the hoarding of grain encouraged farmers to grow more crops.

Glossary of Terms

Queen Regnant

A female monarch, equivalent in rank to a king, who reigns in her own right.

Protestantism

A movement that began in northern Europe in the early 16th century as a reaction to medieval Roman Catholic doctrines and practices.

Heresy

Theological doctrine or system rejected as false by ecclesiastical authority.

Marian settlement

The name given to the religious arrangements made for England during the reign of Mary I, in an attempt to restore Catholicism.

Catholic restoration

Re-establishment of Roman Catholicism in England.

Debasement of coinage

The practice of lowering the intrinsic value of coins.

End of Module Summary Questions