Economic Development 1485-1509 Flashcards
What were the main industries in England at the start of Henry VII?
Wool, cloth, tin, lead, coal, metal working, shipbuilding and leather working.
What was the population of London in the beginning of the fifteenth century?
Over 50,000
The increase of the wool industry meant that sheep farming was more popular in the late fifteenth century. Which area of the country was pastoral farming more common?
In the woodland areas. Mixed farming was most common in the lowland areas (below the tees and Weymouth).
Of what proportion of English exports was the cloth trade responsible for? How much did cloth exports increase by?
90%.
60%.
What did the cloth trade offer? What were the disadvantages?
Opportunities for rural employment.
The prosperity of towns such as Lavenham in Suffolk and Lewes in Sussex.
The prosperity of East-coast ports such as Boston, Lynn and Yarmouth.
The reinforcement of London’s commercial dominance.
A commercial axis with Antwerp, which was then transported all over Europe.
Historic cities such as Winchester and Lincoln suffered significant decay.
What was a problem with economic development in Henry VII’s reign?
Merchant adventurers couldn’t dominate trade, because they couldn’t overcome the trading privileges enjoyed by the Hanseatic League.
The Hanseatic League was successful in limiting the development of English trading interests with the Baltic.
What was the biggest issue concerning trade in Henry VII’s reign?
The embargo on trade with the Netherlands in 1493 (implemented due to fear of Margaret of Burgundy’s support for Perkin Warbeck).
What treaties improved trade?
Intercursus Magnus (1499)-improved trading relationships with the Netherlands and brought the embargo to an end. It provided a solid basis, allowing English merchants to export to any part of the Duke of Burgundy's lands apart from Flanders. Treaty of Etaples (1492)-encouraged Anglo-French commercial relations. Also removed trading restrictions.
What was Henry’s approach to trade in his foreign policy?
Henry was clearly interested with increasing customs revenue, however it was equally clear that he was prepared to sacrifice revenue and trade in the interests of securing the dynasty.
What evidence suggest that Henry VII was interested in English exploration?
He encouraged John Cabot to search for alternative fishing grounds. Consequently, Cabot set sail in 1497 and located what became known as Newfoundland and reported the existence of extensive fishing grounds.
John Cabot’s son, Sebastian, received sponsorship from Henry VII and led an unsuccessful attempt to find the North west passage to Asia in 1508.
Did England prosper during Henry VII’s reign?
A decline in the export price of wool, grain and animal products in the 1490’s, implies thats here was a reduction in farming profitability, but also and increase in real incomes for domestic consumers.
