HVIII ECONOMY

Question 1

WHY was there widespread unemployment in the late 1520s?

Answer 1

1) The Treaty of Amiens 1527 hurt English trade due to its trade embargo against Spain (who under Charles V controlled the Netherlands)
2) There was one of worst harvests of the period in 1527-29

Question 2

WHAT did Wolsey do to try and combat rising unemployment in the late 1520s?

Answer 2

He increased the number of coins in circulation, stimulating exports, but contributing to rising prices as the coins were seen as worthless

Question 3

WHAT was the impact of the trade embargos of the late 1520s?

Answer 3

Widespread unemployment and an economic depression. Many riots had to be quelled in the Spring of 1528 in the south east, East Anglia and the south west

Question 4

WHAT is debasement and WHEN did it increase during Henry VIII’s reign?

Answer 4

Reducing the amount of silver in the coins, making them less valuable and so more are needed to purchase things. Debasement increased in the 1540s.

Question 5

WHAT efforts were there to prevent enclosure?

Answer 5

• Wolsey’s inquiries 1517-23
• 1534: Cromwell passed an act designed to limit the amount of sheep one could own

Question 6

WHICH English city became the centre of trade during Henry VIII’s reign?

Answer 6

London

Question 7

By HOW MUCH did the exports of woollen items increase by during Henry VIII’s reign?

Answer 7

Exports of woollen items doubled

Question 8

WHAT were the consequences of the increasing population during the Tudor period?

Answer 8

1) Increased demand for food, land and goods which led to increased prices and rents.
2) Increased proportion of the country living in urban areas