Economic developments in the reign of Henry VIII

Question 1

How did the cloth industry perform under Henry VIII?

Answer 1

Cloth exports doubled during his reign

Question 2

What does the increase in the imports of wine suggest?

Answer 2

This suggests that the spending power of the more prosperous class increased, more standards of living

Question 3

Where did most of exported cloth route from? How did this affect other regions?

Answer 3

Most cloth routed through London, this harmed other ports such as Bristol and Boston

Question 4

What can be used to support the view that England under the Tudors (Henry VIII) was economically healthy?

Answer 4

• the population grew significantly from 1525 and the rate of mortality declined
• agricultural prices rose significantly from the 1520s suggesting farming incomes increased. Furthermore engrossing took place where by farms are joined to make a single larger agricultural unit
• debasement created an artificial boom from 1544 to 1546 at a cost to long term living standards

Question 5

What suggests that the economy was not healthy under Henry VIII?

Answer 5

• bad harvests lead to temporary but significant increases in food prices such as 1520-21 and 1527-29. Food prices nearly doubled in Henry VIII’s reign
• real wages began to decline which was worse at the end of Henry VIII’s reign when debasement took place
• assessments for subsidies suggests urban poverty
• evidence of growing unemployment in rural industries
• engrossing made people homeless

Question 6

What is debasement and why was it done?

Answer 6

Debasement is when the silver content of coins is replaced by base metals, this leads to increased prices. It was done to finance Henry’s foreign policy