Chapter 22 - Economic development in Elizabethan England Flashcards
what 4 point can be made about trade with relative certainty?
- the value of internal trade considerably exceeded that of foreign trade
- a wider range of foreign luxury goods came to be imported during elizabeth’s reign
- the cloth trade with the netherlands, while remaining important, declined relatively as part of the economy.
- though attempts to establish new overseas markets did take place, for example in russia, these remained economically marginal
what was the single biggest development in internal trade?
the growth in the shipping of coal from the tyne to the thames to meet the growing demands of the london market, though some coal was exported across the north sea, including a rapidly developing trade with france.
what does a wide range of luxury goods being imported suggest?
that such goods were becoming affordable for a wider range of the population.
why did the cloth trade with the netherlands decline relatively as part of the economy?
- the antwerp cloth market had declined from the early 1550s.
- sir william cecil was anxious for political reasons to end the dependance on a single market
- an alternative trade was established, based on the north german port of emden, but the major was to amsterdam, whose commercial growth came at the expense of antwerp which remained under spanish control.
what was the main centre of african trade?
Guinea
what became used as the starting point for John Hawkins’ move into the americas?
guinea, in the process he invented the english slave trade
how many expeditions did hawkins make?
3 from 1562, acquiring slaves in Africa that he then transported and sold in south america
how did Hawkins’ first 2 expeditions go?
- they proved to be financially successful, although he succeeded in irritating the spanish authorities.
- by the time of the 2nd expedition in 1564, Hawkins had secured investment from prominent courtiers including the earl of leicester, as well as support from the queen who supplied ships - for a price.
what happened on hawkins’ third expedition?
he achieved royal support once more, but his fleet was bockaded in the mexican port of San Juan de Ulua, although some gold got back to england
what did hawkins’ activities do?
antagonised the already strained relations between england and spain
what does the fact that the queen was prepared to be involved with hawkins’ activities suggest?
that she was willing, in return for profit, to run the risk of antagonising philip II
what were the main changes in english trading patterns in the 1580s?
- the main markets for english wool moved from the southern to the northern netherlands
- there was an increase in trade with the ottoman empire
what trading companies were set up?
- the Muscovy company had been incorporated in 1555 to trade with russia and northern europe, though it failed in the long term to compete effectively with the dutch
- the eastland company was set up in 1579 to trade in the baltic but had a similarly limited effect
- the levant company, founded in 1581 as the turkish company, enjoyed success in its attempts to develop trade with the ottoman empire
- the east india company was set up in 1600 to trade with asia, but it had less investment compared with the dutch east india company, and therefore found it very difficult to compete in the short term.
what assumed greater significance in light of later developments?
the extension of trade to the mainland of north america and the attempt to form a colony in virginia
who did the suggestion that england should start colonising north america originate with?
the entrepeneur and explorer humphrey gilbert
who encouraged the process of colonisation in North America?
Richard Hakluyt in a Discourse of Western Planting, published in 1584.
- Hakluyt, a clergyman and geographer, was closely linked to gilbert’s half-brother, Walter Raleigh, and, through raleigh, presented the discourse to the queen.
