You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
You read in The Wall Street Journal that 30-day T-bills currently are yielding 8 percent.
Your brother-in-law, a broker at Kyoto Securities, has given you the following estimates
of current interest rate premiums:
Mary I, succeeded to the throne in 1553, her hopes for a
revival of English religious life proved a failure. Westminster Abbey, which had been retained as a cathedral, reverted to being a monastery; while the communities of the Bridgettine nuns and of the Observant Franciscans, which had gone into exile in the reign of Henry VIII, were able to return to their former houses at Syon and Greenwich respectively. A small group of fifteen surviving Carthusians was re-established in their old house at Sheen, as also were eight Dominican canonesses in Dartford. A house of Dominican friars was established at Smithfield, but this was only possible through importing professed religious from Holland and Spain, and Mary's hopes of further refoundations foundered, as she found it very difficult to persuade former monks and nuns to resume the religious life; consequently schemes for restoring the abbeys at Glastonbury and St Albans failed for lack of volunteers. All the refounded houses were in properties that had remained in Crown possession; but, in spite of much prompting, none of Mary's lay supporters would co-operate in returning their holdings of monastic lands to religious use; while the lay lords in Parliament proved unremittingly hostile, as a revival of the "mitred" abbeys would have returned the House of Lords to having an ecclesiastical majority. Moreover, there remained a widespread suspicion that the return of religious communities to their former premises might call into question the legal title of lay purchasers of monastic land, and accordingly all Mary's foundations were technically new communities in law. In 1554 Cardinal Pole, the papal legate, negotiated a papal dispensation allowing the new owners to retain the former monastic lands, and in return Parliament enacted the heresy laws in January 1555.[31] When Mary died in 1558 and was succeeded by her half-sister, Elizabeth I, five of the six revived communities left again to exile in continental Europe. An Act of Elizabeth's first parliament dissolved the refounded houses. But although Elizabeth offered to allow the monks in Westminster to remain in place with restored pensions if they took the Oath of Supremacy and conformed to the new Book of Common Prayer, all refused and dispersed unpensioned. In less than 20 years, the monastic impulse had effectively been extinguished in England; and was only revived, even amongst Catholics, in the very different form of the new and reformed counter-reformation orders, such as the Jesuits.