22 - Economic Development In Elizabethan England

Question 1

Overall what happened to trade during Elizabeth’s reign

Answer 1

Grew considerably

Question 2

Which was greater, foreign or internal trade

Answer 2

Foreign trade surpassed in value by internal trade

Question 3

What export increased

Answer 3

Export of coal to France increased

Question 4

What internal trade grew

Answer 4

Growth in the shipping of coal from the River Tyne to the river Thames to supply the London market.

Question 5

What happened to trade with the Netherlands

Answer 5

Flourishing cloth trade with the Netherlands

Question 6

How did trade with Netherlands change in the 1580’s?

Answer 6

The main markets for English wool moved from the southern to the northern Netherlands, as William Cecil encouraged trade with protestant Amsterdam rather than with Antwerp which was under Catholic Spanish control.

Question 7

What broadening of overseas markets took place?

Answer 7

Increase in trade with the Ottoman Empire
Trade links established with India
Trading routes extended into Russia
Wider range of foreign luxury goods imported in return

Question 8

What three expeditions did John Hawkins go on?

Answer 8

Guinea in Africa from 1562, he acquired slaves to transport to South America in exchange for other goods . Was backed by London merchants and prominent courtiers and Elizabeth.

But theirs expedition suffered a Spanish blockade in Mexico in 1568- Hawkins activities worsened with Spain, but even Elizabeth saw the potential gains in riches abroad.

Question 9

What to do with trading were formed?

Answer 9

A number of trading companies.
These had varying degrees of success in widening Englands trading interests.

Question 10

What trading company was set up under Mary in 1555?
What area did it trade with?
Degree of success

Answer 10

Muscovy company
Russia and Northern Europe
Failed in long term to compete w the dutch

Question 11

What trading company was set up in 1579
Who did it trade w
Success?

Answer 11

East land company
Baltic
Had limited success

Question 12

What trading company was set up in 1581?
Where did it trade with
Success?

Answer 12

Turkish Company (later Levant company)
Ottoman Empire
Reasonably successful

Question 13

What trading company set up in 1600
What area did t trade with
Success?

Answer 13

East India Company
Asia
Short term found it difficult to compete with the better funded dutch east India company

Question 14

How did the company’s impact future capitalist development?

Answer 14

They were joint-stock companies owned by their shareholders. Would model future development

Question 15

What were the key events inspiring colonial activity in north america?

Answer 15

1580’s Sir Francis Drake returned from three year circumnavigation of the globe; showed the potential of sail and opportunity to acquire new trading lands.

Explorer Humphrey Gilbert and clergyman Harley’s author of ‘A Discourse of Western planting’ 1584. Highlighted the potential of North America.

1584 Charter granted it sir Walter Raleigh establish english control over territory in North America.

Raleigh’s success in gaining investment from Sir Francis Walsingham and others.

Question 16

What significant expedition took place 1584?

Answer 16

Expedition to Roanoke Island
Foundation of colony named Virginia (in honour of Elizabeth, the virgin queen)

Question 17

What were the results of the 1584 expeditions?

Answer 17

Further expeditions, 1585 and 87; all failed to establish a permanent settlement.

Problems of native hostility and insufficient support from England which was embroiled in war with Spain.

Question 18

What happened to agricultural production

Answer 18

Overall increased.

Although bad harvests provided as interruptions to this trend.

Question 19

What happened to cloth-making

Answer 19

Cloth making in rural areas increased, but some old-established cloth towns such as Stamford and Winchester declined.

Question 20

What and why did urban settlements develop

Answer 20

Eg Manchester and Plymouth
Thrived on a broad range of manufacture

Question 21

What happened to London

Answer 21

London grew and provided a market for internal goods (eg coal from Newcastle upon tyne)

Question 22

What areas flourished

Answer 22

The south-east
Followed closely by Norfolk, Suffolk, and the ‘inner west counties’ of Somerset, Gloucestershire and Wiltshire.

Question 23

What were the poorest counties

Answer 23

Those of the north and in the West Midlands

Question 24

What happened to government involvement in trade and industry

Answer 24

Legislation proliferated
Saw that taxes and duties could be levied on manufacturers to bring wealth to the country as a whole.

Question 25

Examples of legislation in trade

Answer 25

Acts to regulate trade in cloth, leather, coal, iron, grain and timber.
Two Navigation acts to promote the use of english ships
Statue of artificers 563

Question 26

What did the statue of artificers do?

Answer 26

Fixed prices, regulated wages, restricted workers freedom of movement, control apprenticeships.

Question 27

When were there bad harvest

Answer 27

Four successive harvests 1594-97.

Question 28

Signs of depression

Answer 28

The bad harvests
Real wages collapsed by 1596 to less than half the levels of nine years earlier.
1596-97 subsistence crisis
Distress was widespread and particularly bad in the north, where people died of starvation, both in remote rural areas and in Newcastle (to which the poor and needy from further airfield gravitated)