5 - Economic Development: Trade, Exploration, Prosperity + Depression Flashcards
What was the estimated population at the start of Henry VII’s reign?
2.2 million
How was the population distributed between urban and rural areas?
- 90% rural
- 10% urban
How big were urban areas?
- Most small: only 20 had population over 3000
- Largest urban area: London had population 50,000
What groups existed in urban areas? What did they control? How many were there in London?
Urban guilds (66 in London)
- Entry to industry
- Apprenticeships
- Wages + prices
- Quality control
What was the biggest sector of the economy?
Agriculture
When did agriculture decline and when did it recover?
- Decline in 1300s-1400s (Black Death)
- Recovery in the reigns of Henry VII + Henry VII, as population began to regrow (Tudor population explosion)
What was the Tudor population explosion?
Growth of the English population after the Black Death, under the reigns of Henry VII + Henry VIII
- 1522: pop 2.3 mill
- 1545: pop 2.7 mill
How did agriculture type differ regionally?
- SE: Mixed (exceptions: pastoral in the Fens + High Weald)
- NW: Pastoral
- Welsh border/Herefordshire: Grain + fruit
What were the main changes in agriculture during Henry VII’s reign?
- Mixed farming starting to shift to more pastoral farming (for wool/cloth trade)
- Open-field husbandry starting to shift to enclosure
(Changes were JUST STARTING, more significant under later monarchs)
What is open-field husbandry?
Manor estate with tenants farming strips of land in open fields, all having common rights (legal rights of all tenants to use common land + keep animals there)
What is enclosure?
Land becoming owned by one individual and being fenced off
Why was enclosure becoming more common?
Farming becoming more profitable
How was enclosure affecting peasants?
Negative effect
- Lost land
- Lost common rights
- Caused a slight rural population decline
BUT - Some historians argue negative effect has been exaggerated
- Midlands (most enclosure at time) had less than 3% land enclosed
- Negative effects often confused with effects of engrossment (multiple farms joining)
Was most English trade internal or external?
Internal (between specialised regions)
What were the main imports to England?
Products for the wealthy
- Wine
- Raisins
- Dye
- Glass
What were the main exports from England?
- Cloth (growing)(increased by 60% under Henry VII - Lander)
- Wool (shrinking)
What percentage of England’s export value was from cloth?
90%
Outline the process of cloth exportation
- Pastoral (sheep) farming produced wool
- Cottage industries (small scale in homes) spun + wove cloth
- Commercial enterprises (fulling + dying) to cleanse, thicken, dye cloth
- Exportation (London-Antwerp-Europe)
Where + what was Antwerp?
- In Duchy of Burgundy, Netherlands
- ‘commercial metropolis of Europe’-Coleman
- Where English cloth exported to before distribution around Europe
What were the other industries (aside from cloth) under Henry VII?
Area-specific, smaller scale industries, e.g…
- Mining (largest of smaller scale industries, required some investment, e.g. water powered pump installed by Crown in Durham coal mine - 1486)
- Metal work
- Leather work
- Shipbuilding
What were the trading companies?
- Merchants of the Staple
- Merchant Adventurers
- Merchants of the Hanse (Hanseatic League)
Who were the Merchants of the Staple?
Merchants controlling export of WOOL
- Royal charter: 1319 (existed before)
- Beginning to decline under Henry VII (wool export replaced with cloth)
- Main shipping route: East-coast English ports - Calais - Europe
Who were the Merchant Adventurers?
Merchants controlling export of CLOTH
- Royal charter: 1407
- Beginning to peak under Henry VII (wool export replaced with cloth)
- Positive relationship with Crown: had influence in trade treaties
- Declined in 17thC when Parliament stripped privileges
- Main shipping route: London - Antwerp - Europe
Who were the Merchants of the Hanse (Hanseatic League)?
Collection of merchant communities from North + Central Europe monopolising (controlling) trade
- Formed: 1356
- Peaked 13thC-15thC
- England’s biggest competition (English forced to forfeit Baltic area)
What was Henry VII’s relationship with the Hanseatic League?
Pre-1504: Tried to remove them + promote Merchant Adventurers:
- E.g. 1487: Banned cloth exports by foreign merchants
1504: Had to reassert the power of the Hanseatic League to prevent them offering support to the Yorkist Edmund de la Pole
Post-1504: English merchants had to accept their inferior status in Baltics
How did Henry VII try to boost English trade?
Trade laws + clauses in other treaties
- The Navigation Acts (1485 + 1489)
- Clause in Treaty of Medina del Campo (1489)
- Clause in Treaty of Etaples (1492)
- Intercursus Magnus (1496)
- Intercursus Malus (1506)
What actions did Henry VII take that limited trade, showing his priority: his own security?
- Trade embargo with Netherlands (1493-1496)
- Reassertion of Hanseatic League (1504)
What were the Navigation Acts? How did they help trade?
The Navigation Acts (1485+1489)
- Banned foreign ships from exporting certain English goods
- Encouraged English shipbuilding + shipping
- Success: Partial. BUT 50% exports still from foreign ships by end of Henry VII’s reign (1509)
What was the clause in the Treaty of Medina del Campo that helped trade?
Clause in Treaty of Medina del Campo (1489)
- Affected trade with Spain
- Hoped to open new Spanish trading markets with reduced tariffs
- Success: Low. Focused on marriage alliance not trade.
What was the clause in the Treaty of Etaples that helped trade?
Clause in Treaty of Etaples (1492)
- Affected trade with France
- Hoped to improve commercial relationship, including trade, as France had restricted English trade when England backed Brittany in Breton Crisis
- Success: High. Restrictions eased + completely removed in 1495.
What was the Intercursus Magnus? How did it help with trade?
Intercursus Magnus (1496)
- Affected trade with Netherlands (and rest of Europe - Antwerp)
- Ended trade embargo and allowed trade to anywhere within Philip Duke of Burgundy’s lands (Burgundy + Netherlands) excluding Flanders
- Success: High. Restored important export routes for English cloth trade.
What was the Intercursus Malus? How did it help with trade?
Intercursus Malus (1506)
- Hoped to improve trade by giving English merchants huge trading privileges over the Burgundians
- Success: None. Never ratified, restored to Magnus following year.
Was trade successful under Henry VII?
Mainly unsuccessful
- Wasn’t yet a primary source of Crown revenue
- Security had been placed above trade priorities (Embargo + Reassertion of Hanseatic League)
Didn’t get worse, just limited progress
- Treaty of Etaples + Intercursus Magnus restored previous conditions
Which nations did the most overseas exploration under the reign of Henry VII?
Spain + Portugal
English much less
Was Henry VII interested in exploration? Why?
- Yes (funded some explorers, e.g. the Cabots)
- Potential to gain new land + economic benefits.
Was Henry VIII interested in exploration?
No
Who was John Cabot?
- Fishing merchant based in Bristol
- Went on expedition to search for new fishing grounds (1497)
- Encouraged by Henry VII: “search out any isles…unknown to Christians”
- Received limited funding from Crown (£50)
- Discovered Newfoundland + reported existence of extensive fishing grounds
- Never returned from his second voyage (1498)
- His lands became dominated by Spanish + Portuguese fishermen
Who was Sebastian Cabot?
- Son of John Cabot
- Went on expedition to search for North West Passage (1508)
- Wanted to increase trade with Asia for spices + other goods
- Received even lower funding than John (less than £50)
- Unsuccessful
What changes to coinage did Henry VII make?
- Introduced new coins, e.g. ‘Ryal’ (10 shillings)
- Introduced first coin to have English monarch on (shilling), in the same style as Maximilian I
What impact did Henry VII’s changes to coinage have?
- Allowed for economic growth
- Circulated message that King was in power (publicity)
How prosperous was England under Henry VII?
Fairly prosperous showing some signs of growth with cloth leading way, but still economically far below the superpowers
- England’s average Crown income in 1509: £113,000
- France’s average Crown income: £800,000
Why did England’s prosperity fluctuate?
England heavily relied on agriculture, so farming caused fluctuations
- Usually: 1/4 harvests deficient, 1/6 harvests really bad
Trade Embargo 1493-6
Did Henry VII encourage trade? Why?
Yes (but still prioritised Crown security)
- Partly desire to increase wealth
- Partly ability to increase security in some cases, by working with other countries
