How Important Was Trade? Flashcards
What was an important trade clause of the Treaty of Medina del Campo and what effect did this have on revenue?
The export of goods from Spain was in foreign ships. Income from customs revenue rose from £33,000 in 1485 to £40,000 in 1509.
Why was the main focus of English trade with Burgundy?
The cloth trade through Antwerp was very important.
What evidence is there of Henry placing dynastic security above trade?
He placed an embargo on trade with Burgundy from 1493-6 when Margaret of Burgundy offered support to Warbeck and ordered merchants to export most of their cloth through Calais as opposed to Antwerp. Also, Henry was forced into a settlement with the Hanse as he believed that they would support the Earl of Suffolk in the same way that they had supported Edward IV.
What result did the Magnus Intercursus have on English merchants?
This signified the end of the embargo and allowed English merchants to sell their goods wholesale anywhere in Philip’s lands, except Flanders, without paying tolls or customs.
What allowed Henry to be able to sign the Malus Intercursus?
Philip of Burgundy was forced to land in England in 1506 after bad weather.
What were the terms of the Malus Intercursus?
Trade with burgundy would be free.
Philip was not to impose any duties on the sale of English cloth.
Philip was not to exclude English cloth from his lands.
Philip’s subjects still had to pay the duties outlined in the Magnus Intercursus.
Why was the Malus Intercursus not effective in the long-term?
The terms were so favourable to English merchants that it was very unpopular with Burgundy, so much so that by 1507 the previous state of affairs under the Magnus Intercursus was restored.
Which smaller country did Henry renew a treaty with that encouraged trade?
Portugal
What were the Navigation Acts of 1485-6?
Prohibited English traders sending their goods on foreign ships when English ships were available. This limited foreign control of English trade.
Why were the Navigation Acts not successful in the long-term?
Spain retaliated by imposing the same terms for its own merchants. The Treaty of Medina del Campo ended these restrictions, with both countries enjoying the same rights in each other’s countries and duties were fixed at a low rate. However, Spain did not allow England to trade in the New World. The Acts also had little impact on the Hanseatic League.
Who dominated Mediterranean trade and what sanctions did they impose on England?
The Venetians. They imposed heavy duties against English ships that carried Malmsey wine from the Levant to England.
How did Henry retaliate to the Mediterranean sanctions and what effect did this have?
He imposed heavy duties against the Venetians and also approached Florence (enemies of Venice) as an alternative trading partner, signing a treaty in 1490, establishing an English staple for cloth at Pisa and limited English sales of wool to Venice. In response, the Venetians dropped the duty on English ships and this favourable position remained as Venice became embroiled in the Italian Wars.
Who were the Hanseatic League (Hanse)?
A group of German ports and cities that controlled most of the Baltic trade.
What privileges did the Hanseatic League gain in 1471 and why?
They benefited from things such as lower tax because they had supplied Edward IV with ships that had allowed him to regain the throne after his deposition by Henry VI in 1470.
How did Henry attempt to limit the privileges of the Hanse?
The Navigation Acts (but had little impact).
Tried to get English merchants to have direct access to northern trade by signing treaties with Denmark (1489) and Norway (1490). A similar policy was adopted with Riga in 1499 but they rejoined the league and the treaty collapsed.
