chapter 5 Henry 7th economy Flashcards
what did the society look like at the beginning of Henry’s reign?
the population would be 2.2 million and most of the population would be living in the countryside and around 10% of people would be urban dwellers. London would be the exception with a population of 50,000. Wool and cloth would be the main industries and there would some smaller ones that would include coal and shipbuilding.
what was the significance of the agrarian economy?
due to the Black Death the income from land would decrease, though as the population would grow in the late 1400’s there would be a greater focus on sheep farming, this would be due to the demand for wool.
England can be divided into a lowland zone and a highland zone, this would be the south east and the northwest of the line from Weymouth to Tees estuary. pastoral farming would be found in the lowland area and open field husnadry would be found in the south east and East Midlands.
due to the wool and cloth trade this would make sheep farming more profitable, though peasants would lose their access to land due to land. Farming would undergo change during the late 1400 and early 1500.
what is the significance of open field husbandry?
This would be a form of holding land that would be seen in the lowland areas of England. The manor would be an example where their tenants would farm on strips of land and they would enjoy common rights.
what was the significance of the cloth trade?
this would make up 90% of English exports, during the reign of Henry 7th there would be a 60% increase in the export of cloth during the reign of Henry.
The increase of cloth that would be finished would lead to processes such as dyeing that would add income.
cloth towns would be prosperous they would include places like Lavensham in Suffolk.
Cloth would be transported form London via the Merchant Adventurers this would reinforce the commercial dominance that London would have.
from Antwerp English cloth would be transported all over the world.
The merchant adventurers would not be able to overcome the trading privileges of the Hanseatic League, which would be reasserted by treaties in 1474 and in 1504. This would be a key example of how Henry 7th would rely on having positive relations with countries.
what would be the significance of Merchant Adventurers?
these would be wealthy and successful they would be a trading organisation, they were used by the king as a means of policy for the intercursus Magnus and malus, they were the most successful of the age.
what was the signifnace of other industries?
England would still be dependent on the cloth industry in order to have successful trade as other industries would remain small, other countries would be stronger for example this would include the Spanish being good at shipbuilding. The small industries would provide some sense of life but it would be limited to one area for example mining would take place in Cornwall. The coal that would be found in the northeast would be sent to London and little would be sent elsewhere.
Though there would be some development for example in 1486 when in Durham there was the first pumping technology.
what was the significance of trade laws and treaties?
Henry would frequently change the way that he would view trade, though he would want to protect his country. This would affect his trade ban with Burgundy for example in 1493 with regards to Perkin Warbeck. Though the treaty of Etaples would try to encourage trade with france.
There would also be navigation acts that would be passed in 1485 and 89.
what was the significance of early English exploration?
John Cabot would receive the acceptation to search “any isles”, he would set of in 1497 and he would be able to locate the Newfoundland. He is considered the first English explorer to explore the new world.
His son in 1508 would lead an unsuccessful attempt at the north west passage to Asia.
what did prosperity and depression look like during this period?
it will be suggested that during this time prices would remain steady, though there does seem to be a decline in the export price of wool. Building workers and argricultrual labourers would be better off during the 1490’s.
