Changes to patterns of domestic and foreign trade Flashcards
Evidence of the importance of the cloth trade to england
- 1450s – 55,000 cloths exported per year, 1550 –130,000 cloths per year, Elizabeth‘s reign – 100,000 cloths per year the value of which was £750,000
- very labour intensive so provided a large amount of employment
- main areas were Kent, East Anglia, West Yorkshire and the West Country
- The real drive to the change from raw wool to finish cloth was that traders could charge more for the finished cloth as the manufacturers had put in labour to finish the cloth.
Introduction to cloth trade
- Before 1400s England’s main export was raw wool and its main market aboard was Antwerp in the Netherlands.
- Made sheep farming in England very profitable for land owners.
- 1400s to 1500s English manufacturers made their own finished cloth from raw wool and exported this to the Antwerp cloth market.
- Cloth manufacturers sold directly to foreign merchants abroad or sold it to English merchants who were members of the merchant adventurers (Guild/livery company). The merchant adventurers sold the cloth to the antwerp market.
Political events abroad and their impact (Dutch Revolt 1566)
- Netherlands part of Spanish Empire and the Spanish had become concerned about the spread of protestantism in the Netherlands
- 1566 – Spanish sent troops to the Netherlands and started to reinforce direct control to reduce independence of the Dutch
- Increased concerns in England as there were fears that these troops could be used to threaten England’s security
- This also disrupted England’s most profitable trade with its most profitable market in Antwerp
- The positive impact is that this increased Dutch immigration into England and many of them were skilled textile workers. Another positive is that this encouraged English merchants to diversify the number of areas they traded with/seek new markets
Political events abroad and their impact (other immigration)
- German immigrants many of whom were skilled mine workers moved north and stimulated the manufacture of coal mainly in Newcastle so England had to import less coal
- French immigrants moved mainly to London and the surrounding areas and brang their skills in glassmaking meaning less need to import glass products
Political events abroad and their impact (currency)
- 1540s – boom in trade and in English cloth exports which was driven by the debasement of the coinage. Made English exports cheaper which led to increase in profits.
- Early 1550s – slump in cloth trade due to reevaluation of the coinage under Northumberland which made exports more expensive
- Elizabeth’s reign – coinage remained more settled in its value which gave traders confidence in the value of English coinage and exports so trade increase increased
New Draperies and foreign textile workers (CHANGES)
- Increase in industries associated with the manufacture and trade in cloth was bringing in £250,000 per year by the end of the 1500s
- diversification in the cloth industry and cloth trade (different types of cloth exported)
– expansion in the sale of new fabrics in Southern Europe/Mediterranean
– expansion of cloth trade made certain regions become very prosperous for example Norwich, Colchester, Maidstone, Canterbury and sandwich
New Draperies and foreign textile workers (REASONS)
– Dutch cloth weavers were welcomed into the country by the government as they were more highly skilled than the English workers. They developed a greater variety of fabrics and these could reach new markets. They were cheaper, lighter and more colourful and sold well in the Mediterranean. They also lasted less well which added to demand for replacements.
- Due to the new markets, more labour was needed so the government encouraged foreign textile workers to take on English apprentices
– Specific areas that grew the most grow because they were close to the ports through which the foreign workers entered England. They were also encouraged to settle in the south by the government.
New Draperies and foreign textile workers (LIMITS)
– Limited to regions and communities in which they settled so elsewhere in England there was little change in the cloth industry (impact very localised)
The role of London as a market (CHANGES)
– Growth of London stimulated the development of agricultural industries in the regions around London.
– stimulated an increasing demand for luxury goods from abroad and also became a centre for the glassware industry.
– Increasingly important trading port/a centre for the export of cloth and manufacturing
– main base for trade with merchant adventurers
- 1571 – given a royal charter to establish the Royal exchange in London, which was a key trading market
The role of London as a market (REASONS)
– Rich noble families settled or took housing in London which increased the demand for luxury goods.
– population growth – Henry’s reign 60,000 and by the 1570s 86,000 to 100,000 and by the 1600s 200,000. London was a focus for immigration and during the period it’s estimated 40,000 to 50,000 immigrants entered London and many of them were skilled workers so they contributed to London as a production/manufacturing centre
– Monopolised the export trade through the merchant adventurers and was the centre of the main trades which were organised into 12 guilds/delivery companies and they controlled the manufacture and sale of their goods in and around London.
– Thames allowed for a wide variety of goods to be bought and sold to and from Europe and from the 1540s there improvements to navigation of the Thames which meant it began to overtake all other ports in the volume of trade
- hanseatic league dominated trade around the Baltic sea but the government supported the merchant adventurers monopoly of the league for trade in the Baltic Sea
The role of London as a market (LIMITS)
– High levels of poverty shown by it being the first area to introduce compulsory poor relief
– great wealth that was generated by the livery companies and merchant adventurers only benefited those who controlled the companies and traits
– Downside to London’s growth as a trading centre as it undermined the development of other ports in England such as Bristol and Southampton.
– granting monopolies cause increasing complaints in Parliament (in the commons) in the 1580s and 90s under Elizabeth
Exploration and trade development (CHANGES)
– Increasing diversification of trade routes and links
– increasing creation of new trading companies many of them given Royal charters
– England began to challenge the Portuguese and Spanish domination trading Monopoly with the New World
Exploration and trade development (REASONS)
– New trade routes and companies emerged out of failed attempts to find a north east and north Northwest passage to Asia. Out of the north east passage came a number of trading companies like the Eastland company and the Muscovy company. Also established the Turkish company and the barbary company (North Africa) and the east India company (developed trade with Asia)
– Francis drakes circumnavigation between 1577 to 1580 made connections with Asian kingdoms.
– John Hawkins developed the south and land Atlantic trade which developed into the slave trade.
Both responsible for challenging the Spanish domination of trade with the new world
Exploration and trade development (LIMITS)
– There was diversification in export markets but the cloth trade was still England’s largest export by volume and worth
– first Elizabethan colonies in the New World failed to establish
– England’s expeditions to the New World created confrontation with the Spanish and Portuguese and what often repelled by the Spanish
– Barbary company failed to make a profit and the Muscovy company had limited success in increasing trade with Russia and also failed to find a Northeast/Northwest passage to Asia
