The Canceling of Royal Monopolies

Elizabeth's popularity began to wane towards the end of her reign. The war with Spain dragged on inconclusively. The parliament became less tractable and began to object to the abuse of the royally granted monopolies, which was used to reward her favorites and tolerate considerable corruption. A last Golden speech to Parliament in 1601 reaffirmed her love for her subjects, but it came in the context of a bitter clash over royal monopolies, which she ceased from.