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ECON 30843 Financial History John Lovett

Study Questions for Neal, Larry (2000). How it all began: the monetary and financial architecture of Europe during the first global financial capital markets. Financial History Review. 117-140.

1. _____ When is the start of the Protestant Reformation traditionally dated? i.e. When did the Protestant Reformation start? Any answer within 20 years is full credit.

2. _____ When was Henry VIII of King? Henry VIII ruled England: a. in the late 1400’s and very early 1500’s e. from 1625 to the 1640’s b. in the middle 1500’s f. from 1685 to 1688 c. in the late 1500’s on until 1603 g. beginning in 1688 (or 1689) d. from 1603 to 1625 h. from 1727 to 1760

3. Which of the following are true of Henry VIII of England? Check any and all that are true.

_____ He had 6 wives

_____ He greatly debased the English coinage

_____ He agreed to give Parliament complete “Power of the Purse”

_____ He was a devout “radical” Protestant. He favored churches by their congregations rather than a formal hierarchy.

_____ He was a devout “Puritan” Protestant. He liked a simple church rather than one with formal sacraments and rich decorations.

_____ He was a devout Catholic. He especially believed in papal supremacy.

_____ He broke with the and created the as the official church of England.

_____ He was from the .

4. _____ What was the “Gunpowder Plot”? a. Blah b. Blah c. Blah d. Blah

5. _____ What effect did the “Gunpowder Plot” on the religious leanings and religious toleration in England? a. Blah b. Blah c. Blah d. Blah

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ECON 30843 Financial History John Lovett

6. _____ When was Charles I of England King? Charles I ruled England: a. in the late 1400’s and very early 1500’s e. from 1625 to the 1640’s b. in the middle 1500’s f. from 1685 to 1688 c. in the late 1500’s on until 1603 g. beginning in 1688 (or 1689) d. from 1603 to 1625 h. from 1727 to 1760

7. _____ What was one of the main complaints Parliament had against Charles I? a. Blah b. Blah c. Blah d. Blah

8. _____ What is another reason Parliament, and many of the English people, disliked and distrusted Charles I? a. Blah Bonjour! I am Henrietta b. Blah Maria de Medici, wife of c. Blah Charles I. What aspect d. Blah of Charles I’s reign do I represent?

"HenriettaMariaofFrance02" by Anthony van Dyck ‐ San Diego Museum of Art. Licensed under Public Domain via Wikimedia Commons ‐ http://commons.wikimedia.org/wiki/File:Henrietta MariaofFrance02.jpg#/media/File:HenriettaMariaofFrance02 .jpg

9. _____ What major event happened during the reign of Charles I? a. Blah b. Blah c. Blah d. Blah

10. _____ How did the above (# 9) event work out for Charles I? a. Blah b. Blah c. Blah d. Blah

11. _____ Who ruled England after Charles I? a. Blah b. Blah c. Blah d. Blah

12. _____ What best characterizes the rule of the above (# 11) person? He or she: a. ruled in a very restrained manner, operating with the consent of Parliament. b. basically ruled as a dictator.

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ECON 30843 Financial History John Lovett

c. let Papal representatives run England’s domestic policies while he or she was away on foreign wars.

13. _____ How did England transition from the rule of to that of Charles II (Charles Stuart the 2nd)? a. Blah b. Blah c. Blah d. Blah

14. _____ When was James II of England King? James II ruled England: a. in the late 1400’s and very early 1500’s e. from 1625 to the 1640’s b. in the middle 1500’s f. from 1685 to 1688 c. in the late 1500’s on until 1603 g. beginning in 1688 (or 1689) d. from 1603 to 1625 h. from 1727 to 1760

15. _____ What was one of the complaints Parliament had against James II? a. Blah b. Blah c. Blah d. Blah

16. _____ What is another reason Parliament, and many of the English people, disliked and distrusted James II? a. Blah b. Blah c. Blah d. Blah

17. _____ What happened shortly after James II’s wife, Mary, had a baby boy? a. Blah b. Blah c. Blah d. Blah

18. _____ When was William King of England? William II ruled England: a. in the late 1400’s and very early 1500’s e. from 1625 to the 1640’s b. in the middle 1500’s f. from 1685 to 1688 c. in the late 1500’s on until 1603 g. beginning in 1688 (or 1689) d. from 1603 to 1625 h. from 1727 to 1760

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ECON 30843 Financial History John Lovett

19. _____ To whom was William married? a. Blah b. Blah c. Blah d. Blah

20. _____ How did William come to power in England? a. Blah b. Blah c. Blah d. Blah

21. ______Who came to power in England’s “Glorious ”?

22. ______How did the above come to power in England’s “”? a. God was seen as favoring England after freak storms sank two invasion fleets in rapid succession. b. English Parliamentary leaders invited a foreign ruler and his English wife to take over the crown. c. successfully invaded England. The new king, however, soon broke away from France. d. Parliamentary forces became deeply religious and finally defeated the king on the battlefield.

23. ______Roughly when was England’s “Glorious Revolution”?

24. ______Why is the term; “Glorious Revolution” used? a. Englishmen finally received complete freedom to practice whatever religion they pleased. b. Both the English “rebels” and the French were very happy with the outcome. c. While England chose a devout Catholic to rule, he/she strongly supported Protestant causes. d. The change was non-violent and gave England a powerful, yet restrained government.

25. ______When was the (English) Bill of Rights signed? a. 1066 b. 1215 c. 1509 d. 1689 e. 1775 f. 1825

26. _____ Who had control over English government revenue sources before the Glorious Revolution? Who had the “power of the purse” before the Glorious Revolution? a. The King had the power of the purse. b. The King had control over some revenue sources and Parliament over other revenue sources. c. Parliament had power of the purse.

27. _____ Who had control over English government revenue sources after the Glorious Revolution? Who had the “power of the purse” after the Glorious Revolution? a. The King had the power of the purse. b. The King had control over some revenue sources and Parliament over other revenue sources. c. Parliament had power of the purse.

28. (4 pts) Arrange the following in their historical order. ___ The English King, Charles I, gets his head cut off. ___ Regime change! Parliament invites a new Stuart king to take back the English throne. ___ The Gun Powder Plot ___ Regime change! Parliament invites William and Mary, to take the English throne. 4

ECON 30843 Financial History John Lovett

29. _____ When, approximately, did the events of question 28 take place? a. 1470 - 1567 d. 1605- 1627 g. 1669 - 1749 b. 1567 - 1605 e. 1605 - 1688 h. 1689 - 1779 c. 1567 - 1619 f. 1669 - 1688

30. _____ When did Great Britain get a government that was both powerful enough to assign and protect property rights, and restrained from using its power in ways that threaten property rights? a. shortly after the “Glorious Revolution” d. under Charles I b. during Cromwell’s Protectorate e. under James II c. shortly after the f. under

31 – 32. Indicate when and how did the Dutch Republic become a nation by choosing the appropriate answer for each blank

31. In ______… a. the late 1000’s c. the late 1300’s e. the late 1500’s g. the late 1700’s b. the late 1200’s d. the late 1400’s f. the late 1600’s h. the late 1800’s

32. _____ … a. the Dutch revolted against the king of Spain and formed their own country b. the Dutch revolted against the Duke of Burgundy and formed their own country. The Duke of Burgundy was basically a puppet of the English government. c. Dutch lands were ruled by an English Duke. The English duke allied with France and basically formed his own, Dutch, country. d. Dutch lands were invaded by a Viking army. The Vikings soon formed their own country which has persisted, with some boundary changed, to the modern day. e. the French expelled the English from the Dutch lands by France and set up a “puppet” Duchy. When the English attacked France again, the Duchy declared its independence from France.

33 – 34. Indicate when and how did the Dutch Republic ceased to be the Dutch Republic nation by choosing the appropriate answer for each blank

33. In ______… a. the late 1000’s c. the late 1300’s e. the late 1500’s g. the late 1700’s b. the late 1200’s d. the late 1400’s f. the late 1600’s h. the late 1800’s

34. _____ the Dutch … a. were invaded by a German army. The Germans set up their own “puppet state”. b. faced an internal revolt led by both Catholics and wealthy Dutch merchants. The Dutch government was overthrown and the Dutch lands joined with Belgium. c. Peacefully became part of the Kingdom of Great Britain. The Dutch lands were a British possession for nearly 100 years. d. were invaded by a French army. The French set up their own “puppet state”.

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ECON 30843 Financial History John Lovett

35. _____ Rank the countries below in term of their relative level of economic development (i.e. Real GDP/capita, financial institutions, etc.). Use 1st for the most advanced country, 2nd for the less advanced country. England The Dutch Year (Great Britain) Republic 1625

1750

36. ______What is another thing that is true of the Dutch Republic? The Dutch Republic: a. became rich from inflows of silver from its colonies. This, however, discouraged innovation. b. exported most of its coal to England rather than using it at home. c. lacked natural defensive borders. It suffered from many foreign invasions. d. was too large and geographically divided to be ruled effectively.

37. ______What else is true of the Dutch Republic? The Dutch Republic: a. had kings with nearly absolute power, but these kings used their powers in a very restrained way. b. had better financial and commercial institutions than England for much of the 1600s. c. was technically a part of France, but made its own domestic policy very independent of France. d. was a true democracy in which every person age 19 and up, both male and female, voted.

38. ____ When was the Dutch Republic “born”? a. The mid 1300’s c. the late 1500’s e. the late 1700’s b. the mid 1400’s d. the late 1600’s f. the late 1800’s

39. ____ How was the Dutch Republic “born”? a. The mostly Catholic Dutch revolted against the rule of Protestant England. b. The mostly Protestant Dutch revolted against the rule of Catholic Spain. c. A Dutch prince from one family married a Dutch from another family thereby uniting the Dutch provinces. A form of government in which each province had a vote was chosen. d. England and France negotiated a treaty to end the 100 Years War. England agreed to withdraw from the Dutch provinces but only if they became a new country and not part of France. e. A mommy & daddy republic wanted to start a family. They go to the hospital and get a baby republic.

40. ____ When was the Dutch Republic come to an end? a. The mid 1300’s c. the late 1500’s e. the late 1700’s b. the mid 1400’s d. the late 1600’s f. the late 1800’s

41. ____ How did the Dutch Republic come to an end? a. It has not. The Dutch Republic survived without a break to this day. b. France invaded and replaced the government with a French puppet state. c. The Dutch executive seized power and disbanded the representative government body. d. The Dutch provinces disagreed over tax and tariff policy. Each province withdrew with some joining Prussia, some France, some Belgium, and one remaining as Luxembourg. e. The Dutch King abdicated. The Dutch parliament decided to become part of Habsburg Spain in order to have a strong executive.

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