AS FP2 : Henry VIII, Economic Development : trade, exploration, prosperity and depression

Question 1

Conceptual awareness

What was the most important export in England?

Answer 1

Woollen Cloth

Question 2

Successes

How did the exportation of woollen cloth increase under Henry VIII?

Answer 2

It nearly doubled

Question 3

Exploration - Failures

What was Exploration like under Henry VIII?

Answer 3

Henry VIII made no attempt to build on the achievements of Cabot and the Bristol merchants at the end of the 15th century.

Question 4

Successes

Despite trade being mostly in the hands of foreign merchants, what prospered?

Answer 4

The English Company of the Merchant adventurers ; they enjoyed special priviliges and in return provided the Crown with much needed loans.

Question 5

Successes

Evidence of prosperity in trade?

Answer 5

• Woollen exports nearly doubled
• Some entrepeneurs made vast profits
• Exports of tin and hides increased
• Import of wine = suggests an increase in wealth among certain groups

Question 6

Failure

Evidence of depression in trade

Answer 6

• Market for raw wool declined
• Ports such as Bristol, Hull and Boston declined
• Provincial traders found it hard to compete with London

Question 7

Failures

Give statistics concerning urban poverty in Henry VIII’s reign.

Answer 7

Half of coventry recorded as having no wealth,
1/3 of the population of Yarmouth having no wealth.

Question 8

Failures

When were there bad harvests in H8’s reign?

Answer 8

1520-21
1527-29

Question 9

When did Henry debasse the coinage?

Answer 9

1544-1546

Question 10

Successes

What did the government do concerning the wool and cloth trade, what did this do to exports?

Answer 10

Sponsored efforts to increase cloth exports, 25% increase in exports 1533-34

Question 11

Successes

What was constructed to help iron ore mining?

Answer 11

26 blast furnaces

Question 12

When was the first poor law, what did it do?

Answer 12

1531, split poor into ‘deserving/impotent’ and ‘undeserving/sturdy beggars’.

Question 13

When was the second poor law, what did it do?

Answer 13

1536
Vagrant children aged 5-14 placed into apprenticeships, charitable donations collected for the impotent poor in churches.

Question 14

What was the impact of the REFORMATION on the economy??

Answer 14

• Released 10% of England’s wealth into the economy
• Dissolution of the monastaries pushed up rents