Trade Flashcards
When did Henry reduce Hanse privileges?
1487-89
When was the trading treaty with Portugal?
1489
When was the trade embargo with Burgundy?
1493
When were letters patent issued to John Cabot?
1496
When did Cabot discover Newfoundland?
1497
When were Hanseatic privileges restored?
1504
When and where was the Adventurers to the New Found Lands set up?
1506, in Bristol.
When did Sebastian Cabot set out to find the North-West Passage?
1508
How big did a ship need to be to receive tax concessions?
70 tonnes
How much did raw wool exports decline by?
30%
How much did cloth exports increase by?
60%
How many ships did Edward IV and Henry VII have?
Edward: 10
Henry: 5
What year were Hanse privileges confirmed?
1486
When were the Navigation Acts passed?
1485-9.
How did Henry increase English trade?
- Exploration.
- Reducing Hanse privileges.
- Encourage ship-building.
- Foreign treaties.
- Navigation acts.
- Legislation (acts to reduce smuggling, developed the Book of Rates.)
Why was trade important?
- More merchant ships for defence.
- Cutting off trade could be used as punishment.
- Custom revenue was 1/3 of the crown’s income.
- Happy merchants would lend Henry money and not support pretenders.
- Making the Hanse less dominant is popular abroad.
What proportion of the crown’s income was customs revenue?
1/3
Why did Henry pass the Navigation Acts?
- Weaken the Hanseatic League.
- Get support from merchants.
- More ships = better defence.
