Government
Elizabethan England was not particularly successful in a military sense during the period, but it avoided major defeats and built up a powerful navy. On balance, it can be said that Elizabeth provided the country with a long period of general if not total peace, and generally increasing prosperity. Having inherited a virtually bankrupt state from previous reigns, her frugal policies restored fiscal responsibility. Her fiscal restraint cleared the regime of debt by 1574, and ten years later the Crown enjoyed a surplus of £300,000. Economically, Sir Thomas Gresham's founding of the Royal Exchange (1565), the first stock exchange in England and one of the earliest in Europe, proved to be a development of the first importance, for the economic development of England and soon for the world as a whole. With taxes lower than other European countries of the period, the economy expanded; though the wealth was distributed with wild unevenness, there was clearly more wealth to go around at the end of Elizabeth's reign than at the beginning. This general peace and prosperity allowed the attractive developments that "Golden Age" advocates have stressed.
Read more about this topic: Elizabethan Era
Famous quotes containing the word government:
“We talk about a representative government; but what a monster of a government is that where the noblest faculties of the mind, and the whole heart, are not represented! A semihuman tiger or ox, stalking over the earth, with its heart taken out and the top of its brain shot away. Heroes have fought well on their stumps when their legs were shot off, but I never heard of any good done by such a government as that.”
—Henry David Thoreau (1817–1862)
“The newspapers, I perceive, devote some of their columns specially to politics or government without charge; and this, one would say, is all that saves it; but as I love literature and to some extent the truth also, I never read those columns at any rate. I do not wish to blunt my sense of right so much.”
—Henry David Thoreau (1817–1862)
“... it were impossible for a people to be more completely identified with their government than are the Americans. In considering it, they seem to feel, “It is ours, we have created it, and we support it; it exists for our protection and service; it lives as the breath of our mouths; and, while it answers the ends for which we decreed it, so long shall it stand, and nought shall prevail against it.””
—Frances Wright (1795–1852)