English economy under Henry 8th Flashcards
what was the significance of trade?
the volume of English trade increased during the first half of the 16th century, there were rises in cloth exports, woolen cloth exports doubled in H8 reign. The spending power of the prosperous classes increased as there was an increase in the import of wine. Antwerp and London remained the figure of English trade, though the profits of the cloth trade did not always benefit the English traders, though 70% of the cloth exports were transported by English merchants. The success of the cloth trade depended on the success of the woolen trade, places such as Yorkshire benefitted the most from this trade.
William Stumpe, an MP who was able to forge major profits for his business in the trade.
The mining industries of Cornwall also continued to increase.
what is the significance of exploration?
Henry 8th was uninterested in exploration, the achievements of Cabot didn’t bother him, there was no royal support for exploration.
what is the significance of prosperity and depression during this time?
John Guy would argue that England was economically healthier, from 1525 the population began to grow. Agricultural prices began to grow which helped the income of farmers, the debasement go the coinage created a short-term artificial boom, 44-46- though longer-term problems.
Though, there were two key bad harvests, 20-21, 27-29, real wages began to declines, there were over 5000 migrants a year adding to the population of London.
what was the impact of enclosure?
This created the moral problem, of the poor being forced to leave their homes, the harmful social affects had been highlighted in Thomas More’s Utopia. Wolsey launched an enclosure commission, 188 people were found to have enclosed illegally. in 1534 there was legislation that aimed to limit sheep ownership and engrossing.
what is the significance of the population at this time?
the increase of the population was the underlying cause of the economic distress, this put a strain on the supply of food, the people who benefitted most from this time were the farmers, there was a wealth divide between the rich and the poor, there was the assumption that the poor were poor out of choice, or idleness. This led to laws which dealt with the matter harshly such as vagrancy.
