Henry VIII economy Flashcards
What did the rise in population cause?
Food and land shortages, unemployment, poverty, vagrancy and urban squalor
How much did woollen cloth exports increase by
2x
What did the increase in imported wine mean?
An increased spending power of the more prosperous classes
Where were negatively impacted as more cloth went through London?
Bristol, Hull and Boston
Who enjoyed a boom in trade with Venice?
Southampton
What was the biggest change in the cloth trade?
An increase in cheaper fabrics like Kersey
What percent of cloth exports were transported by English merchants from 1550s?
70%
Which areas saw an increase in trade?
West riding of Yorkshire, East Anglia (especially South Suffolk) and parts of the West country (especially Gloucestershire, Wiltshire and Devon)
Who gained wealth and social status from cloth?
William Stumpe of Malmesbury in Wiltshire became MP for Malmesbury, high sheriff of the county, wealth landowners and beneficiary from the dissolution of monasteries
What other industries grew?
- Cornish tin
- Lead
- Coal
- Blast furnaces produced iron ore in the weald of Sussex and Kent and they were 26 by 1550s
What were the developments for exploration?
- Henry VIII was uninterested in exploration trying not to build on Cabot and Bristol merchants
- Robert Thorne, a Bristol trader, continued his involvement in an Iceland and Newfoundland fishery
- Merchants had a lack of royal support
- Sebastian Cabot remained in Spain for Henry VIII’s reign except for 2 small trips to England
- Cabot was assisted in his map - making activities by Thorne’s son who ore the same name as him
What does Guy believe?
England was economically healthier, more expensive and more optimistic under the Tudors than at any time since Roman occupation
How did farming incomes increase?
- An increase in agricultural prices from 1520s
- Engrossing (the joining of two or more farms in a single agricultural unit)
When were there bad harvests?
1520 - 21 and 1527 - 29
How much did food prices increase and who did it impact?
2x and urban workers