What did Elizabeth I do to improve England's economy?

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Queen Elizabeth I faced some serious economic challenges during her reign. First of all, she inherited some serious debts from her father. King Henry VIII left the English monarchy with terrible credit and a debt of £227,000. In order to make it easier for the Crown to borrow money domestically, Queen Elizabeth supported a major piece of economic reform. In 1571 this legislation passed Parliament to rewrite the lending laws of Great Britain. As a result of her general frugality and of now being able to borrow domestically at lower interest rates, the Queen was able to pay off her father's debts by the end of her reign. Being able to borrow domestically was also seen as a way for the country to improve its economic image abroad. No longer would the monarch need to go to other nations to beg for loans. Now her own countrymen could would lend her money (and do so quietly) for patriotic purposes.

Another financial challenge that the Queen struggled with resulted from the rapid population...

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