Henry vii : Economic development Flashcards
what was Henrys economic policy ?
he had no specific policy even though he was interested in building his own personal wealth, the acts of parliament that dealt with economic matters where mainly the private lobbying of merchants who had a vested interest
how did the agrian community changed during Henrys reign?
a move towards sheep farming (1480/90s) which reflects the depressed probability of arable farming but also the improved profitability of sheep farming brought about by the increasing demand for wool, as the population grew and trade overseas developed
why was the cloth trade important ?
it was responsible for 90% of the value of English exports, its estimated that there was an increase by 60% in the volume of cloth exports during Henry vii’s reign
what was the objective of the Navigation Acts of 1485 and 1489 ?
to encourage English shipping by trying to ensure that only English ships could carry certain products to and from English ports
- only had limited usefulness as foreign vessels continued to transport a substantial proportion of English exports
what did John Cabot do ?
received authorisation from Henry to ‘search out any isles’
- he sailed in 1497,located the ‘newfound land’
- the following year set out on another expedition but never came back
what can be used to imply that there was a reduction in farming profitability during henrys reign ?
there was a decline in the export price of wool, grain and animal products
who did the best during Henrys reign ?
building workers and agricultural labourers where on whole the best they would be during the tudors
summary ?
time of economic stability, remaining firmly based on agriculture with dynastic interests always prevailing over commercial interests when the two clashed
