Economic Development 1509-47

Question 1

Who is an example of a rich clothier who acquired wealth through the cloth industry?

Answer 1

WILLIAM STUMPE of Malmesbury who became MP, high sheriff of the county, wealthy landowner and benefitted from the dissolution of the monasteries.

Question 2

Did exploration increase?

Answer 2

There was no attempt to build on Cabot or Bristol merchants exploration in the end of the fifteenth century. Although, Robert Thorne explored Iceland and Newfoundland fishery.

Question 3

Evidence that the economy prospered.

Answer 3

1. The population grew significantly after 1525 with a reduced mortality rate.
2. An increase in agricultural prices from 1520 meant an increased farmers wage.
3. Debasement created a short term boom between 1544 and 1546.

Question 4

Evidence that the economy declined.

Answer 4

1. Food prices almost doubled during his reign due to bad harvests.
2. Real wages started to decline as a result of debasement.
3. Urban poverty was present in many areas, for example, half of the Coventry population had no personal wealth.
4. Growing unemployment in rural areas meant that there were 5000 annual migrant adding to the population of London.
5. Many made homeless due to engrossing.

Question 5

What increased in terms of trade?

Answer 5

Cloth exports doubled, kersey, hides, tin, mining industry (with a total of 26 blast furnaces by the middle of the century), the import of wine increased and trade between London and Antwerp also increased. This had a negative impact on trade with ports like Boston, Hull and Bristol. The greatest growth in cloth industry was in the West Riding of Yorkshire, East Anglia and parts of the West Yorkshire.

Question 6

What was the impact of enclosure?

Answer 6

The extent of social problems caused by enclosure was revealed in Thomas More’s Utopia in 1516. There were at least 188 defendants who had enclosed illegally.

Question 7

What was the impact of population?

Answer 7

The increasing population caused economic problems, including a strain on food supply. With wages stagnating, this exacerbated the problem. Society had become more pole rises due to this as the beneficiaries were wealthy farmers and landowners.