11 - Economic Development in the Reign of Henry VIII Flashcards
1
Q
How can you define economic growth?
A
- growth of industry and trade
- higher wages and lower prices
- increase in ownership
- increase in employment
2
Q
Nobles - economic growth
A
- 10% of land available for cultivation
- created 7 barons and promoted 3 existing peers
- Suffolk was granted property in Lincolnshire 1936
3
Q
Nobles - economic decline
A
- while bastard feudalism had not died away, the nobility was becoming more and more controlled by the king
- Thomas Finnes, a noble killed in 1541 hung for murder of neighbours servant
- Duke of Buckingham executed for treason in 1521
4
Q
Gentry - economic growth
A
- owned 25% of cultivation land
- 5000 gentry families by 1540
- William Stumpe, MP for Wiltshire
5
Q
Gentry - economic decline
A
- 181 gentry families became extinct
- laymen took on admission roles
- gentry x3, land x2
6
Q
What happened to the population from 1525 - 1551?
A
Grew from 2.26 mil to 3.01 mil
7
Q
What happened to rents?
A
Midlands - rent of meadowland grew x4 from 1540-85
8
Q
What happened to wages?
A
Population growth meant labour was plentiful and cheap, people would drift through towns
9
Q
What happened to purchasing power?
A
Decreased from 96 to 70
10
Q
What happened to sustenance?
A
- bad harvests in 27-29 and 44-45
- black death 46-47
- wheat, barley and rye prices grew
11
Q
Where were pasture farmers?
A
North, provided cloth
12
Q
Where were enclosure farmers?
A
Midlands, after 1517 there was legislation against removing tennants
13
Q
Where were arable farmers?
A
South East
14
Q
Cloth
A
- 10% of cloth trade
- almost doubled from 11-47
- domestic to industrial sphere
15
Q
Tin
A
Cornish tin remained a prised export
