economic policy Flashcards
population at the beginning of the 15th century
around 2.2 million
what did most people do for a living in 1485?
farming
how many people lived in towns in 1485?
10%
what was the main industry and what % did it make up of overall goods? (1485)
wool and cloth
90%
what were henry’s economic aims?
-re-establish english commerce
-consolidate power and tudor dynasty
-increase english prosperity
-develop english shipping
-break the Hanseatic league
navigation acts dates
1485, 1489
medina del campo date
1489
treaty of etaples date
1492
trading embargo with the Netherlands date
1493
magnus intercursus date
1496
malus intercursus date
1506
what is an embargo
economic cut off by trade refusal
netherland trade embargo
-ruled by duke of burgundy
-supported lambert simnel and perkin warbeck
-provided support for yorkists to usurp henry
-henry stopped all trade which led to economic problems in england
-henry put consolidation of the crown above the economy
navigation act 1485
-forbade englishmen to load their goods on foreign ships where english ones were available
-wines from gascony were to be imported only on english ships with crews at least 50% english
-limited in usefulness as foreign vessels continued to transport a substantial proportion of english exports
-henry hoped it would break hanseatic league
navigation act 1489
-forbade foreign buyers from purchasing wool until english buyers had bought what they wanted first
-illegal for foreigners to buy raw wool for manufacture into cloth outside england
-hanse ships captured by england went unpunished
-60% more cloth being expprted in 1509 than beginning of henrys reign
-failed to break hanseatic league
