Henry VII economy Flashcards
trade, exploration, prosperity and depression
what was the population of England
2.2 million
What % of the population lived in urban areas
10
Why was there a move towards sheep farming in the 1480s and 90s
lower profitability of crop farming and more profitability of wool from increased demand from the growing population and overseas trade
How much of the value of English exports came form cloth
90%
How much did cloth export volume increase in Henry’s reign
60%
How did the cloth trade change
Initially was raw wool
became more finished cloth after the development of weaving, fulling and dyeing
How did the cloth trade provide opportunities for employment
weaving, dyeing and fulling offered opportunities for rural employment to supplement agrarian income as they were usually done domestically
What did the Merchant adventurers do
Export cloth from London to Antwerp
why was England dependent on cloth for trading
Could not compete with continental competitors e.g. Germany and mining, Spanish and shipbuilding
When were the navigation acts
1485 and 1489
What did the navigation acts do
tried to encourage English shipping by ensuring only English ships could carry certain products to and from English ports
But did not work
What did John Cabot find
Newfoundland
When did John Cabot sail
1497
what was the most common form of farming in the lowland zone
mixed farming
why did peasants struggle as a result of sheep farming
lost their access to land and common rights
How was wool exported at the beginning of Henry’s reign
shipped mainly from east-coast ports e.g. Yarmouth and exported through Calais by the Merchants of the Staple
who were the merchants of the staple
controlled the export of wool
based at Calais
what towns benefitted from the cloth industry
Lavenham in Suffolk
Lewes in Essex
What towns did not benefit from the development of the cloth industry and why
Winchester and Lincoln as the cloth industry tended to move from older corporate boroughs to newer manufacturing centres
why could the merchant adventurers not dominate the cloth trade
unable to overcome the privilege enjoyed by the Hanseatic league
when and why did Henry reassert the treaty that gave the Hanseatic league privileges
1474 and 1504
needed to ensure the Hanseatic league would offer no support to the Earl of Suffolk
what happened to the export price of wool and price of grain and animal products in the 1490s and why
decline
might imply a reduction in farming profitability and a rise in real incomes for domestic consumers
