On this day 30th October in Tudor times…

  

On This Day 30th October 1600
On 30th October, 1600 Elizabeth I refused to renew Essex’s monopoly on sweet wine with the words ‘an unruly horse must be abated of is provender that he may be the better brought to managing’. Monopolies were a common way for the Crown to give grants to favored courtiers. As the name suggests, all imports and exports of the product in question were routed through the monopolist’s hands, who was then free to take a percentage of the profits. During the 1590s, the practice of granting monopolies was heavily criticised by the House of Commons as being in restraint of trade. In Elizabeth’s last Parliament she promised to look into the matter, but no changes were made. For Essex, the loss of the monopoly effectively bankrupted him and was a contributing factor in his descent into open rebellion.

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