How helpful was Edward IV in improving English trade and the economy Flashcards
Helping- Edward IV’s personal involvement in trade in the 1460s
In the 1460s he was actively involved in the wool, cloth, and tin trade.
Helping- Edward IV’s involvement as an importer in 1470
By 1470 Edward IV was active as an importer - e.g James de Sanderico was commissioned to ship 8,000 cloths on the king’s behalf - 3,000 of these were valued at £6,589.
Helping- Edward IV’s role in the tin trade at Southampton
Tin trade was dominated by the king, especially at Southampton - in 1467-8 12,000 lbs was shipped for the king, which was valued at £1,600.
Helping- Edward IV’s support for innovation in commercial affairs
It was Edward that granted licences to John de Salvo and Antonio Spinola, to introduce twenty craftsmen into England in order to instruct the English in new methods of finishing and dyeing cloth.
Helping- Edward IV’s interest in developing new markets for English commerce
Edward was also interested in developing new markets for English commerce including the Ivory Coast.
Helping- Edward IV’s actions towards London merchants
Between 1461 and 1471 he knighted no fewer than eighteen London citizens, a remarkable number when one reflects that only eleven had ever been knighted before, the last of them in 1439.
Helping- Edward IV’s invitation to leading London merchants in 1482
In 1482 the king invited the mayor, alderman and leading commoners out to a summer hunting party in Waltham Forest. They partook in the meal and in the afternoon they joined the king in his hunting.
Helping- Limitations of Edward IV’s trade involvement
Some historians, such as Eileen Power, argue that some of the shipments made in the king’s name were in fact made by his agents on their own behalf.
H.L. Gray argued that Edward’s direct trading ventures were uncommon and that, in general, Edward made his profit by selling licences to foreign or native merchants to export.
Edward IV - Trade Restrictions
In 1467-8 Edward IV allowed parliament to pass restrictions on trade:
- The export of yarn and unfinished woollens was banned.
Example: The export ban on yarn and woollens affected the textile industry.
Edward IV - Conflict with Hanseatic League
In July 1468 Edward IV’s order to arrest all Hansards in England and confiscate their ships and property damaged trade with the Hanseatic League.
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Edward IV - Punishment of Sir Thomas Cook
The persecution and punishment of Sir Thomas Cook in 1468 was ill-judged and extreme. It dented the confidence of London merchants in the fairness of the king’s government.
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Edward IV - Failure to Control Warwick
Edward’s failure to control Warwick leading to his capture in 1469 disrupted English trade until his restoration in summer 1471.
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Edward IV - Trade Privileges with Hanseatic League
Edward IV did not honor his pledges regarding trade privileges with the League in 1471. He sided with his friends - the merchants of Cologne, leading to inevitable hostilities with the League.
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Edward IV - Negotiations with Hanseatic League
Despite negotiations resuming in June 1473 with the League, Edward was forced to pay compensation for his previous actions, reducing it from £25,000 to £10,000.
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Edward IV - Limited Concession to Hanseatic League
Edward IV only received the limited concession that England enjoyed their former privileges in Hanseatic territories, but without any exemption from taxation.
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