Henry VII - Trade and Economy

Question 1

How did Henry attempt to limit the trading rights of the Hanseatic League?

Answer 1

1. Henry vii wanted to limit the Hanseatic League’s trading powers that it had enjoyed since the treaty of Utrecht in 1474.
2. In 1487 Henry banned the export of unfinished cloth by alien merchants
3. 1489 Prohibition on the Hansa’s exportation of Bullion.

Question 2

How did Henry vii limit the trading rights of foreign traders in England?

Answer 2

1. Henry restricted the trade of luxury goods.
2. Imposed navigation acts
3. Imposed trading tarrifs

Question 3

How did the Treaty of Étaples (1492) relate to trade?

Answer 3

Reduced the trade restrictions that either country had been placing on eachother.
Created equal trading conditions.

Question 4

When were trading restrictions on England removed by France and why?

Answer 4

1495, for English neutrality during the Italian wars.

Question 5

When were English Merchant trading priviliges restored in France?

Answer 5

1497.

Question 6

How did the Treaty of Medina del Campo relate to trade?

Answer 6

It allowed for equal trading rights for merchants from both countries and fixed custom duties at a rate that proved favourable to English traders.

Question 7

When did Spain impose a navigation act on England?

Answer 7

1494.

Question 8

What did the navigation act imposed by Spain show?

Answer 8

Henry’s increasing isolation.

Question 9

What did Henry have to do to get the Earl of Suffolk concerning the Hanseatic league?

Answer 9

He was forced into passing an act that restored all of the Hanseastic league’s trading priviliges in 1501 as the Earl of Suffolk was a fugitive in Germany.

Question 10

How successful were the Harvests in 1485?

Answer 10

Really successful.

Question 11

How successful were the harvests in the 1490s?

Answer 11

Golden decade. 5/10 harvests proving plentiful.

Question 12

What harvest was poor in 1489?

Answer 12

The harvest in Yorkshire.

Question 13

What were the harvests like in 1500-1503?

Answer 13

Very poor. Four bad harvests.

Question 14

Define enclosure.

Answer 14

Ending common rights to a piece of land by taking it under single ownership. Often used for sheep farming.

Question 15

What was Henry vii’s response to encolsure?

Answer 15

He drafted legislation in 1488 and 1489 to try and combat depopulation but these were never passed.

Question 16

What was the main trade in England , with who?

Answer 16

The cloth trade, english wool was a main ingredient in Flemish Cloth.

Question 17

What changes did Henry vii make to coinage and why?

Answer 17

He changed the coins to display his face with an imperial crown. This showed his imperial power - political and economic reasons.

Question 18

How much revenue came in from trade in 1506?

Answer 18

£40,000 pa, this was only a fraction of royal revenue.

Question 19

What was Henry vii’s main interest with trade?

Answer 19

A balance of expoliting commercial interests and enocuraging growth in shipping, exports and international relations.

Question 20

When did France impose trading restrictions on England and why?

Answer 20

1487 - for backing the Bretons in the Brittany crisis.

Question 21

What percentage of exports did wool and cloth account for?

Answer 21

90%

Question 22

What was the merchant of adventures?

Answer 22

Exported finished cloth from london.

Question 23

What was the merchant of staple?

Answer 23

Exported raw wool through calais.

Question 24

When did Henry vii pass navigation acts?

Answer 24

1485 and 1489.

Question 25

Why did Henry vii pass navigation acts?

Answer 25

To end reliance on foreign ships by specifying that English crew and ships must be used in certain trades.

Question 26

How did Henry respond to trading restrictions imposed by Italy?

Answer 26

He imposed tarrifs on venetian wine. Showing that he does not take to foreign opposition lightly.

Question 27

What percentage of trade was internal?

Answer 27

90-95%

Question 28

How many statues were passed by parliament concerning economic matters?

Answer 28

50 statues

Question 29

When did Henry pass an act concerning wool (early reign)? What did it impose?

Answer 29

The 1489 act banned foreign buyers from purchasing wool until English Merchants bought all that they wanted.
It also made it illegal to buy wool to turn into cloth outside of England.

Question 30

How much did raw wool exports decrease by by the end of H7’s reign?

Answer 30

30%

Question 31

How much did exports of finished cloth increase by over Henry vii’s reign?

Answer 31

60%