Economy Flashcards
What type of economy is described in the text?
Agrarian economy
An agrarian economy is primarily based on agriculture and farming.
What were the two zones in England mentioned?
Growing zone and pastoral zone
The growing zone focused on crops, while the pastoral zone focused on livestock.
What is the open field system?
A landholding system predominating in lowland England where tenants farmed strips of land in open fields
This system allowed tenants to have common rights to use common land.
What does ‘common rights’ refer to?
The legal right of tenants to use common land, such as for keeping animals
Common rights were crucial for the agricultural practices of the time.
What is enclosure?
The process of enclosing fields with fences, impacting the open field system
Enclosure became increasingly common in the 16th century.
True or False: The open field system allowed for the exclusive use of land by individual tenants.
False
The system was characterized by shared use of land among tenants.
Fill in the blank: The _______ system was a form of landholding that involved tenants farming strips of land in open fields.
open field
What types of products were produced in the pastoral zone?
Milk, eggs, wool, and meat
These products were derived from the rearing of animals.
What was the role of overseas trade in the agrarian economy?
It contributed to population growth and economic development
As trade expanded, it influenced agricultural practices and land use.
What was the impact of enclosure on rural England?
Enclosure led to fewer people employed and evicted those who could not prove rights to graze common land
Enclosure increased productivity but negatively affected the poor.
What was the purpose of leaving one third of the land fallow in open-field farming?
To allow the land to recover
This practice was part of the traditional farming method.
What were the two key methods to increase profit from land during this period?
Engrossing and enclosure
Engrossing involved amalgamating small farm units into larger ones.
Define engrossing in the context of agriculture.
Amalgamating small farm units into a larger one.
What trend in farming profitability influenced the push for enclosure?
An increase in farm prices and the growing profitability of wool.
What was a consequence of enclosure for peasants?
Loss of access to land and common rights, often leading to destitution.
When did the process of enclosure become more widespread?
In the first part of the 1500s.
True or False: The efficiency gains from enclosure benefited all classes equally.
False
Efficiency gains came at a price for peasants.
What moral and political reactions did enclosure create?
A moral outcry and political pressures which were difficult to contain.
What was the relationship between the wool and cloth trades and sheep farming?
They made sheep farming relatively more profitable.
How did open-field farming compare in efficiency to enclosed farming?
Open-field farming was not efficient.
Fill in the blank: The changes brought by enclosure led to greater productivity but at the expense of _______.
poor people.
What was the general state of English agriculture at the end of the 15th and beginning of the 16th century?
No significant changes.
What percentage of the value of English exports was attributed to the cloth trade?
About 90%
This highlights the significance of the cloth trade in the English economy.
What was the primary factor for the increase in cloth exports during the last quarter of the century?
An increase in the volume of cloth exports by 60%
This indicates a substantial growth in the cloth trade during that period.
From which locations was the bulk of cloth exported?
East-coast posts such as Ipswich, Colchester, and Yarmouth
These towns played a crucial role in the cloth export trade.
What dominated the cloth trade, leading to the development of weaving, fulling, and dyeing?
Finished cloth
The focus on finished cloth transformed domestic processes into commercial enterprises.
What opportunities did the cloth industry provide for rural areas?
Supplemental agrarian incomes
The cloth industry created additional employment opportunities for rural workers.
Name two prosperous cloth towns mentioned in the text.
- Lavenham in Suffolk
- Lewes in Sussex
These towns thrived due to the cloth trade.
Which historic cities suffered significant decay due to the movement of the cloth industry?
- Winchester
- Lincoln
The cloth industry shifted focus to newer manufacturing centers.
Which organization dominated the cloth trade and helped negotiate the Intercursus Magnus?
Merchant Adventurers
They were the most powerful English business organization of the time.
What was the significance of Antwerp in relation to the English cloth trade?
Established a commercial axis with London
Antwerp was a key shipping point for English cloth to Europe.
What prevented the complete domination of trade by the Merchant Adventurers?
Trading privileges of the Hanseatic League
The Hanseatic League was a powerful commercial union in northern Europe.
In which years were the trading privileges of the Hanseatic League reasserted by treaty?
1474 and 1504
These treaties were significant for maintaining the Hanseatic League’s commercial influence.
True or False: The Hanseatic League’s privileges were reasserted to ensure they supported the Yorkist claimant to the throne.
True
This was a strategic move by Henry to protect English interests.
What type of operations were most industrial activities during this time?
Small scale craft operations
Examples include weaving and brewing, which required little capital investment.
Which areas were known for mining tin?
Comora
Tin was mined in Comora, while other minerals were mined in various upland areas.
What was the primary use of coal mined in Durham and Northumberland?
Domestic and industrial fuel
Much of the coal was shipped from Newcastle to meet demands in London.
What was the Crown’s primary interest in trade during Henry VI’s reign?
Maximising customs revenues
However, he was willing to sacrifice trade for dynastic security.
What significant trade restriction did Henry impose in 1493?
Embargo on trade with the Netherlands
This was in response to the support for Perkin Warbeck by Margaret of Burgundy.
What was the result of the embargo on trade with the Netherlands?
Merchants had to trade through Calais
This led to retaliation from the Netherlands.
What treaty ended the embargo with the Netherlands?
Intercursus Magnus
The terms of the treaty were still debated two years later.
What did Henry attempt to do in 1503 regarding trade with Burgundy?
Reimpose the embargo
This was due to fears around the claim of the Earl of Suffolk.
What treaty did Henry negotiate in 1506?
Intercursus Malus
Although its full terms were never imposed, it was considered too harsh on Burgundy.
What was the significance of the Treaty of Etaples of 1492?
Encouraged Anglo-French commercial relations
It aimed to remove some trading restrictions imposed earlier.
What was the outcome of Henry’s attempt to break into Mediterranean trade?
Dismal failure
This highlighted weaknesses in trading policy.
What did the Navigation Acts of 1485 and 1489 aim to achieve?
Encourage English shipping
They stipulated that only English ships should carry certain products to and from English ports.
What era of exploration is associated with the 15th century?
A great era of European exploration
This period saw significant exploration efforts by Spanish and Portuguese explorers.
Which country was particularly engaged in the spice trade during the 15th century?
Portugal
Portuguese explorers were heavily involved in the spice trade during this era.
What was the role of Bristol merchants in transatlantic discovery?
Interested in exploration possibilities
Bristol merchants were rumored to have discovered transatlantic routes before 1465.
Who was John Cabot?
A merchant from Genoa who arrived in Bristol in 1495
Cabot was authorized by Henry VII to explore unknown lands.
What did John Cabot discover in 1497?
Newfoundland
He reported the existence of extensive fishing grounds there.
What authorization did Cabot receive from Henry VII?
To search for unknown isles, countries, regions, or provinces
This included lands inhabited by ‘heathens and infidels’.
What happened during Cabot’s second voyage?
He never returned
Cabot’s fate after the second voyage remains unknown.
Did John Cabot set foot on the American mainland?
Almost certain he did not
However, he established that a substantial land mass existed nearby.
Who is believed to have reached the American mainland in 1499?
William Weston
He was a Bristol merchant who may have reached the mainland before others.
What did Sebastian Cabot attempt in 1508?
To find the ‘north-west passage’ to Asia
This attempt was unsuccessful and marked a decline in English exploration.
What happened to English exploration of the north Atlantic after Henry VIII’s accession?
It tailed off
Henry VIII had little interest in supporting exploration efforts.
Which regions dominated the newly discovered fishing grounds after Cabot’s discoveries?
Seamen from Portugal and the Basque region of northern Spain
These groups maintained control over the fishing areas for a long time.
What is suggested about the extent of prosperity and depression in the final years of the 15th century?
There is relatively little evidence to estimate the extent of prosperity and depression.
What happened to prices in the 1480s?
There was a temporary rise in prices.
What trend did wages follow during the final years of the 15th century?
Wages seem to have remained steady.
What was observed regarding the export price of wool in the 1490s?
There was a decline in the export price of wool.
What implication does the decline in the price of grain and animal products have?
It might imply a reduction in farming profitability but also rising real incomes for domestic consumers.
How were building workers and agricultural labourers affected during the 1490s?
They were, on the whole, better off than at any other time during the Tudor period.
How is the economic stability during Henry VII’s reign characterized?
It was a period of relative economic stability, apart from temporary disruptions to trade.
What was the economic situation during Henry VII’s reign compared to Edward IV’s reign?
There was little differentiation economically from Edward IV’s reign.
What was the primary basis of the economy during Henry VII’s reign?
The economy remained firmly based on agriculture.
What attempts did Henry VII make regarding trade?
He made attempts to encourage English trade.
What was debatable regarding Henry VII’s influence on trade?
How much influence his attempts to encourage trade had is debatable.
What prevailed over commercial interests when they clashed?
Dynastic interests always prevailed over commercial interests.
