Final answer:
The irony in praising Queen Elizabeth I for purity and far-sightedness lies in her politically cunning tactics, such as endorsing privateers to weaken Spanish influence. The purpose of this quote is to underscore her skillful rulership and the ability to maintain a positive reputation while pursuing England's global power.
Step-by-step explanation:
Considering Queen Elizabeth I's reign, the irony in the quote 'That is very good. I see purity itself reigns over your land. I should like to see the good Queen, who is so sagacious and far-sighted and who has made all these rules.' lies in Elizabeth's political maneuvers that contrast with the praise of her purity and far-sightedness. While Elizabeth is lauded for her wisdom and rules, the irony stems from the fact that her reign was marked by shrewd political strategies, such as supporting privateers like Francis Drake to plunder Spanish ships, and navigating international politics to advance England's interests. The purpose of this quote, ultimately, may be to highlight Elizabeth's adeptness at ruling and maintaining a positive image, which allowed her to consolidate power both domestically and internationally.