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Henry VIII, 1509-1547 > Economic Development > Flashcards

Economic Development Flashcards

1
Q

What exports increased during this period ?

A
  • Rise in cloth exports
  • Woollen cloth exports almost doubled during Henry VIII’s reign
  • Significant increase in hides and tin exports
  • Cheaper fabrics like Keresy
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2
Q

What was becoming a new import that was increasing ?

A
  • Import of wine increased

- Spending power of the more prosperous classes increased

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3
Q

Where did an increasing proportion of exports begin to be routed from ?

A
  • An increasing proportion of cloth exports were routed through London
  • Before it was London to Antwerp, sent to Europe
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4
Q

How did exporting through London have a negative impact ?

A
  • Negative impact on other ports, especially Bristol and Hull
  • Merchants outside of London struggled to compete
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5
Q

Which city enjoyed a boom of trade ?

A
  • Southhampton
  • Trade with Venice
  • Short lived
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6
Q

What was Keresy ?

A
  • A wooden cloth
  • Cheaper fabric
  • Increased during this period
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7
Q

How did the wool industry operate ?

A
  • Domestic basis
  • Children carding the wool
  • Women spinning
  • Men weaving
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8
Q

Which 3 areas saw the greatest growth in the cloth industry ?

A
  • West Riding of Yorkshire
  • East Angila
  • Parts of the West Country (Gloucestershire)
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9
Q

What was the problems with the profits from the cloth industry ?

A
  • The work was not always secure and could lead to poverty

- Profits did not always find their way into English pockets (exports )

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10
Q

Which MP made serious profits from the cloth industry ?

A

-William Strumpe

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11
Q

Which industries saw a growth in this period ?

A
  • Mining industries
  • Cornish tin exports
  • Iron Ore in Sussex and Kent
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12
Q

What progress did Henry VIII make with exploration ?

A
  • Uninterested in exploration, didn’t offer any support towards it
  • Robert Thorne continued work in Newfoundland and Iceland fishery
  • Sebastian Cabot remained in Spain for the most part of Henry’s reign, retuning on 2 short visits
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13
Q

What supports the view that England was prosperous under the Tudors ?

A
  • Population began to grow significantly from 1525- decline in the rate of mortality
  • 1520’s- agricultural prices rose significantly- increase in farming incomes
  • Debasement of coinage- short term artificial boom in 1544 to 1546
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14
Q

What showed signs of Depression in Tudor society ?

A
  • Bad harvests of 1520-1521 and 1527-29, led to temporary increase in food prices
  • Real wages began to decline as an effect of debasement
  • Over half the population of Coventry were recorded as having no personal wealth
  • Growing unemployment amongst rural labourers
  • Some made homeless due to engrossing
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15
Q

How was the increase in population the main cause of economic distress ?

A
  • Strain on food supply, difficult to meet rising demand
  • A plentiful supply of cheap labour
  • People who benefitted from the increase were wealthier farmers and landowners
  • Agricultural Prices Rose and therefore so did farmers income
  • Upper classes became richer and poorer classes became poorer
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16
Q

What was the Impact of enclosures ?

A
  • Little impact
  • Moral issue that the poor were being forced to leave their homes
  • Caused Wolsey to establish an enclosure commission against 108 defendants found guilty of illegal enclosure
17
Q

What did Henry VIII expand and invest heavily in ?

A
  • Expanded on father’s imperial ambitions
  • Invested heavily in the navy
  • Increased its size from 7-53 ships
  • Established Deptford and Woolwich as Royal Dockyards
18
Q

Which countries had England established trade with buy the end of Henry’s reign ?

A
  • Brazil
  • The West Indies
  • Guinea
  • The Canaries
  • Italy
19
Q

What reignited Henry’s interest in Exploration ?

A
  • Several voyages made to the coat of West Africa
  • Brought back Pepper and Ivory
  • Decided to finance John Rutt’s transatlantic voyage in 1531
20
Q

What was the Debasement of the Coinage ?

A
  • Due to Henry’s failed foreign policy
  • Reduction of the silver and metal content of coins
  • Resulted in inflation
  • Enabled the monarchy to pay off government debts
  • High risk method of making revenue
21
Q

What was the silver content of a coin before 1542?

A
  • Silver content of a coin before 1942 was 92%

- But by 1940’s it was 33%

22
Q

What was ordinary revenue dependant on ?

A
  • Crown lands
  • Largely inflexible
  • Always more likely to fall than rise
23
Q

What did the reversal of Acts of Attainders cost Henry VIII?

A
  • Cost Henry VIII around £15,000 from his landed income

- 1509-1515

24
Q

What was the Act of Resumption 1515 ?

A
  • Under Wolsey
  • Increased revenue from Crown Lands
  • Regained some lands that had been granted away
  • Raised up to £10,000
  • Income decreased to £25,000 per annum
25
Q

What was The Subsidy ?

A
  • Under Wolsey
  • A national committee set up to assess taxpayers wealth
  • Replaced local commissioners who were over generous to the local nobility
  • Provided more accurate valuations of the taxpayers wealth (more realistic tax)
  • Raised Extraordinary Revenue for Henry’s war in France- over £300,000 !!
  • Amount was insufficient and led to the Amicable Grant
26
Q

What was The Amicable Grant 1525 ?

A
  • Additional tax to fund Henry’s war with France.
  • Rebellions in London and East Anglia
  • Taxpayers showed strong resistance- Wolsey had to backtrack and settled for voluntary contributions
  • Nobility alarmed by the widespread anger and informed The King
  • The King left Wolsey to apologise, rebels were pardoned, Wolsey pays off their prison expenses
27
Q

What was government expenditure between 1509-1520 ?

A

-Government expenditure between 1509-1520 was 1.7 million

28
Q

What did Wolsey do to battle Enclosures ?

A
  • Campaigned against enclosures- people lost their common rights to land
  • Laws of 1589 and 1514-15 were against enclosing
  • Cases launched against 260 landlords
  • Large number of cases closed with clear verdicts
  • Abandoned enclosure policy for 18 months in 1523.
29
Q

How did Henry exploit Church revenues ?

A
  • Annates or First Fruits- revived in 1534 in the form of a payment to the crown
  • Tenths-annual tax
  • They brought in £42,000 annually
30
Q

What was the Court of Augmentations ?

A

-Established to deal with revenue from the DOM

31
Q

What did Cromwell double the crown’s income to ?

A

£300,000

32
Q

What did Henry use the money from DOM for ?

A
  • Invested into education
  • New cathedral grammar schools
  • Christ Church, Oxford and Trinity College, Cambridge were established
  • Sold Monastic Lands
  • Profits used to finance wars
  • By 1547, Henry made £800,000
33
Q

How much did Henry make a year from DOM ?

A

£140,000

34
Q

How did Henry throw away an advantage with Monastic Lands ?

A
  • DOM may have been worth £50,000 annually in rents
  • Henry sold off many monastic lands
  • Long term income from rents would have provided more stability for the crown
35
Q

How much did Henry spend on war between 1512-14 ?

A

-£1,000,000

36
Q

What was the main way Henry’s wars were financed ?

A

-Taxation

Henry VIII, 1509-1547 (6 decks)

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