AS FP1, HVII, Economic developments : trade, exploration, prosperity and depression

Question 1

Conceptual Awareness

What was England’s economy like?

Answer 1

England was largely agricultural
Coal and Iron industry small compared to the cloth industry
Cloth was exported to the Netherlands

Question 2

Expansion in overseas trade - Burgundy

What does Henry’s policy towards Burgundy show about his attitude towards trade?

Answer 2

Henry enforced the harsh treaty of the Malus Intercursus on Burgundy in 1506, he used trade as a negotation weapon to protect his crown.

Question 3

What percent of all exports were from the cloth industry?

Answer 3

The cloth industry made 90% of all exports

Question 4

How many statues did Henry pass that were concerned with Economic matters?

Answer 4

50, however these were mainly the result of the private lobbying of merchants who had a vested interest in economic matters.

Question 5

What was a common form of supplement income in peasant households?

Answer 5

The Cottage Industry : small scale manufacturing that took place in people’s homes on simple machinery. It was as a result of peasants having to pay renths; tithes and taxes.

Question 6

conceptual awareness

What had the most economic influence in the realm?

Answer 6

The harvest - it determined if there would be enough food to feed the nation or if there would be widespread starvation.

Question 7

Describe the harvests during Henry VII’s reign, what was the impact on the economy / population?

Answer 7

• 1485 - Really Good
• 1486-89, only average - Some discontent (Yorkshire)
• 1490s were a golden decade
• 1500 to 1503 were the bad years
• Got better from 1504
  Caused extreme fluctuations in prices of foodstuffs that had a massive impact on population.

Question 8

Conceptual awareness

What was England’s trade like?

Answer 8

England was a trading nation but the profist of trade were not yet a main source of income for the crown ; imports included wine + wood from France, iron from Spain and Cod from Scandinavia.

Question 9

What percentage of trade in England was internal during Henry VII’s reign?

Answer 9

90% - 95%

Question 10

What changes did Henry make to the coinage?

Answer 10

Henry introduced new dominations in gold and silver designs, he also introduced a shilling piece which was the first ever coin to have a true portrait of the king - form of propaganda that showed Henry’s power and kingship - showed nobles that he was here to stay.

Question 11

Who did Henry finance the explorations of?

Answer 11

John and Sebastian Cabot

Question 12

To what extent did Henry support exploration?

Answer 12

Henry seemed willing to support exploration but his desire to keep a close reign on spending curtailed his total investment.

Question 13

What was England’s trading relationship with Burgundy?

Answer 13

Burgundy was England’s main export of wool and woolen cloth
* Political enemy of Margaret of Burgundy

Question 14

What were the significant events of England and Burgundy’s trade?

Answer 14

• 1493 Trade Embargo, massive effect on both English and Burgundian economy - Riots in London.
• 1496 Magnus Intercursus - allowed English merhcants to trade freely throughout Burgundy
• Intercursus Malus as part of Treaty of Windsor 1506, but never implanted in Burgundy

Question 15

Describe England’s trading relationship with France.

Answer 15

There was inconsistency in England’s trading with France ; both countries used trade as a bargaining chip in diplomatic relations.

Question 16

What did Henry do in 1492 concering his trading relationship with France?

Answer 16

Signed the Treaty of Étaples to reduce trade restrictions as well as gain a steady source of extraordinary revenue.

Question 17

What happed in 1495 concerning England and France’s trading relationship?

Answer 17

France ended all restrictions on English trade as a way to secure England’s neutral part in the Italian wars.

Question 18

What did Henry ban in 1498 and why?

Answer 18

Henry banned the export of unfinished cloth by any foreign merchants to help undermine the Hanseatic League.

He also passed an act which forbade foreign buyers from purchasing wool until English merchants had bought all they wanted. This was a deliberate move to show the new king’s recognition of the flourishing industry.

Question 19

When did Henry pass the navigation acts?

Answer 19

1485 and 1486

Question 20

What did the navigation acts specify?

Answer 20

• English ships and crews had to be used in certain trades , in an attempt to encourage English shipbuilding and end reliance on foreign ships
• Attempted to promote trade and break the monopoly of the Hanseatic League

Question 21

Were the navigation acts successful?

Answer 21

Sort of, by 1509 50% of trade was still reliant on foreign ships.

Question 22

By 1500, how many people did the cloth industry employ?

Answer 22

By 1500 the cloth industry employed around 30,000 people, roughly 1,3% of the population - however this was still insignificant compared to the contribution of agriculture to the national economy.

Question 23

Agriculture

What was the population of England at the start of the fifteenth century? How many lived in rural areas?

Answer 23

Around 2,2 million, 90% of these people lived in the countryside - the rest lived in towns which were small by continential standards.

Question 24

Agriculture

What does the greater move towards sheep farming in the 1480s and 1490s reflect?

Answer 24

The greater move towards sheep farming not only shows the depressed profitability of arable farming, but also the improved profitability of sheep farming caused about by the increasing demand for wool, as the population grew and trade overseas developed.

Question 25

# Agriculture Describe the presence of enclosure in Henry VII's reign.

Answer 25

Enclosure wasn't as great of a problem as it had been seen by contemporaries. In the Midlands, where the problem was more concentrated, less than 3% of the population was enclosed. - Did lead to depopulation + vagabondage but the extent of this has been exaggerated, Nevertheless, Henry VII passed legislation against enclosure in 1483 and 1489 to prevent depopulation, but the acts were never enforced. - Engrossing was a much larger problem

Question 26

# Conceptual Awareness - Industry How much did the export of cloth by the Hanseatic Merchants increase by during the 15th century?

Answer 26

The export of cloth by the Hanseatic Merchants increased fivefold during the fifteenth century.

Question 27

# Industry What indicates England's dependency on industry abroad?

Answer 27

Apart from woollen cloth, England virtually had no manufactured goods to export, this and the variety of goods imported shows how dependent the country was on industry abroad.

Question 28

# Industry What indicates that there was a small growth in the coal industry?

Answer 28

Coal output increased during Henry's reign, by 1503-1509, 20% of the value in export trade from newcastle was in coal.

Question 29

# Industry What was Henry VII's attitude towards Industry?

Answer 29

There is little evidence of the king encouraging industrial grpwth, however in 1496 there was a crown-sponsored blast furnace built in Newbridge.

Question 30

# Expansion in overseas trade Who were the Merchant Adventurers?

Answer 30

* Trading organisation that dominated London's trade with Antwerp, * Positive relationship with the crown - helped negotiate treaties such as Intercursus Magnus * Couldn't achieve total dominence of trade due to the Hanseatic League's trading privileges.

Question 30

# Industry In summary, what was industry like in England during Henry VII's reign?

Answer 30

England was industrially backward by contental standards, it only really provided casual labour.

Question 30

# Expansion in overseas trade What was Henry's attitude towards trade?

Answer 30

The heart of the king's trading policy was a balance between exploiting commercial interests to serve his dynastic needs and a genuine desire to ecnourage growth in trade + exploration.

Question 30

# Expansion in overseas trade What was the annual revenue for trade?

Answer 30

The annual revenue from trade only provided £40,000 by 1509 (a fraction of royal revenue).

Question 30

# Expansion in overseas trade - Burgundy How did the export of raw wool change during Henry VII's reign - compared to woolen cloth?

Answer 30

Export of raw wool was 30% lower by the end of the reign than it had been in 1485. Meanwhile, the export of woolen cloth flourished and 60% more cloth was being exported in 1509 than it had been at the beginning of the reign.

Question 31

# Expansion of overseas trade - Mediterranean What did Henry sign in 1490?

Answer 31

In 1490, Henry signed a Treaty with Florence which allowed the sail of English wool at the Port of Pisa.

Question 32

# Expansion of overseas trade How did Henry attempt to challenge the Hanseatic League?

Answer 32

In 1489 and 1499 Henry attempted to challenge the Hanse's privilege of importing their goods at preferential rates however a settlement occured when Henry gave in completely in 1504, returning them to their favourable position as he feared they would support the Earl of Suffolk.

Question 33

# Expansion of overseas trade What was Henry's successes in trade?

Answer 33

* Increased outlets for trade * Forward looking treaty with Spain * Custom duties rose * Cloth exports increased

Question 34

# Shipping What was the state of the Navy during Henry VII's reign?

Answer 34

* Henry began his reign with 7 ships in 1485 but allowed the number to fall to 5 in 1488. * Henry encouraged wealthy merchants to build vessels of not less than 80 tonnes which could be transofrmed into fighting ships. * He established the basis of a navy, his ships were bigger and better equipped, e.g the 600 tonne Regent.

Question 35

# Exploration What was established in 1506?

Answer 35

A company called the Adventurers to the Newfoundlands was in existence by 1506.

Question 36

# Prosperity and Depression What was the extent of prosperity and depression in Henry VII's reign?

Answer 36

There is relatively little evidence from which to estimate the extent of prosperity and depression in the final years of the fifteenth century. - Prices and wages remained steady - Decline in the export price of wool, price of grain and animal products by the end of the 1490s. Building workers and agricultural labourers were, on the whole, better off in the 1490s than any other time in the tudor period.

Question 37

# Expansion of overseas trade What were the weaknesses in Henry VII's policy?

Answer 37

The weaknesses of Henry VII's trading was shown in the dismal failure of breaking into the mediterranean trade, and the Hanseatic League were largely successful in limiting English trade in the Baltic.

Question 38

# Industry How did cloth towns prosper under Henry VII?

Answer 38

Cloth towns in Suffolk + Sussex were extremely prosperous however Wincester and Lincoln suffered decay.