Portland State University. Department of History
Term of Graduation
Date of Publication
Master of Arts (M.A.) in History
External debts -- Great Britain -- History, Foreign loans -- Great Britain -- History, Great Britain -- Commerce -- History
1 online resource (2, vi, 140 pages)
As background to an investigation of the crown's foreign borrowing from 1544 though 1557, this thesis examines the general fiscal situation of the mid-Tudor Commonwealth with special emphasis on the great inflation of the 16th century, the role of Antwerp in European finance, and the relationship between war and English fiscal policy. It then examines in detail the creation of the debt under Henry VIII, its development into a standard feature of state finance under Edward VI, and its liquidation under Mary. Information on England and English crown finance was drawn principally from published primary sources while information on the Antwerp market and on continental affairs in general was derived mainly from secondary sources.
This thesis argues that the methods chosen to manage and retire the debt in the later part of the reign of Edward VI and in the reign of Queen Mary were important steps in tapping the increasing wealth of the City of London and the Merchant Adventurers for the support of the crown. These measures, together with the Marian reform of customs rates restored balance to the English fiscal system and allowed England to meet the crises of the last twenty years of the reign of Elizabeth I.
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Kline, Wayne M., "The English Crown's foreign debt, 1544-1557" (1992). Dissertations and Theses. Paper 4366.