아래 지문을 읽고 3분 내에 정답을 맞춰보세요!
지문)
In the mid-16th century, the English monetary system faced a major crisis. Under King Henry VIII, large quantities of debased coins—low in silver and gold content—had been minted to finance military campaigns. As a result, public trust in the currency collapsed, and both domestic and international trade were severely disrupted. According to Gresham’s Law, “bad money drives out good,” citizens began hoarding high-quality coins while circulating only inferior ones. Foreign merchants, in turn, refused English currency and demanded gold payments, worsening the nation’s gold shortage.
Upon ascending the throne, Queen Elizabeth I inherited what was considered the most discredited currency in English history. Rather than tolerating the situation, she initiated a comprehensive monetary reform with the help of trusted advisors such as William Cecil and Thomas Gresham. Between 1560 and 1561, low-quality coins were systematically withdrawn, melted down, and replaced with high-quality silver coins. This not only restored credibility to English money but also strengthened the economy, encouraged international trade, and reinforced confidence in the monarchy.
This episode suggests that the success of large-scale institutional reforms depends less on temporary fixes and more on ______________________________. When guided by strategic planning, technical expertise, and political will, even deeply rooted problems can be resolved with lasting effect.
📚 Vocabulary
debased coins | 가치가 떨어진 동전 | /dɪˈbeɪst kɔɪnz/ |
hoard | 저장하다, 감추다 | /hɔːrd/ |
monetary reform | 화폐개혁 | /ˈmʌnɪtəri rɪˈfɔːm/ |
institutional reform | 제도 개혁 | /ˌɪnstɪˈtjuːʃənl/ |
political will | 정치적 의지 | /pəˈlɪtɪkəl wɪl/ |
문제) Which of the following best completes the blank?
① restoring public trust through transparent and expert-led intervention
② maintaining long-term silence to prevent public panic
③ expanding coin circulation without addressing quality issues
④ appealing to popular emotions rather than institutional solutions
⑤ delaying monetary response until external pressure demands action
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