Henry VIII embarking in Dover.
Throughout this year, and the beginning of 1544, preparations were made for the great invasion of France under the combined leadership of Henry of England and Charles of Spain. The cost of the undertaking was so vast, however, that the general coinage of the realm was debased by introducing a larger amount of alloy into its gold and silver coins. By these means the king’s mint acquired large sums of money, since the face value of the currency was the same despite the smaller amount of precious metal. Prices naturally rose, at a rate of approximately 10 per cent each year, and the economy took twenty years to recover. These were the results of the king’s passion for war.
Other ways of making money were also found. It was decided to exact a ‘benevolence’ from the nation. Those who owned lands worth more than an…
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Utopia, you are standing in it! 
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