Trade Flashcards
1
Q
Trading companies - East India Company
A
- created in 1600
- had a monopoly to trade with Asia
- when James Lancaster discovered a route to Asia around the Cape of Good Hope, in South Africa, to Asia, trade with the continent was helped
2
Q
Trading companies - Spanish Company
A
- had a monopoly on trade with Spanish colonies
3
Q
Trading companies - Muscovy Company
A
- began trading in Russia, with woollen goods being sold and furs, hides, timber, hemp and max being brought back
- helped break the monopoly of the Hanseatic League in the Baltic
4
Q
Transatlantic trade and raids
A
- the British explored the New Worlds for goods and materials but this was contentious since the Spanish and Portuguese had claimed it
- John Hawkins made large profits from the Triangular Trade in both 1562 and 64
- Drake raided a number of Spanish ships and colonies in the New World, bringing back huge sums in 1572-73
- after his circumnavigation in 1577-80, he brought back more
5
Q
Disrputing Spanish trade and ships
A
- Elizabeth hoped that English privateers would distract the Spanish, as well as disruption the flow of silver and resources from America
- however, these raids jus angered them
- Spain attacked John Hawkins’ fleet in 1568 for trying to break the Spanish monopoly on the trans-Atlantic slave trade
6
Q
Rivalry at Antwerp
A
- most of England’s trade was exporting well to Antwerp in 1550
- however, this port was controlled by the Spanish, meaning as relations with Spain got worse, trading through Antwerp got harder
- as a result, more exploration and the discovery of new trade routes went ahead from England
7
Q
Sir John Hawkins
A
- after making profits from the Triangular Trade for Cecil, Leicester and Elizabeth in 1562 and 64, his ships were attacked by the Spanish in Mexico in 1568
- this was in response to him trying to break the Spanish monopoly in the trans-Atlantic slave trade
8
Q
Sir Francis Drake
A
- Drake became the first person to circumnavigate the globe, between 1577-80
- along the way he raided Spanish ports in the Americas
- he captured £40,000 of Spanish treasure in Panama
- he also lost several ships from his fleet in numerous storms
- on his return he was knighted
- this and his wealth encouraged more British sailors
- a large chunk of the treasure that Drake brought home was taken by Elizabeth
9
Q
Sir Walter Raleigh
A
- In 1584 Elizabeth gave Raleigh permission to colonise any part of the Americas not ruled by Christians
- he sent others over there to try to establish colonies, such as New Albion in California
- Gilbert tried to create a colony in Newfoundland but failed
- there were a number of colonies made on the east coast of America in the 1580s but they did not last
10
Q
The ‘lost colony’
A
- a colony was set up by Raleigh in 1585 on Roanoke Island, Virginia
- however, most of the 108 settler return to England the following year
- by 1590 there was nobody in the colony, and it was called the lost colony
- there weren’t enough supplies and the island didn’t have good farming land
11
Q
Trading companies - Levant Company
A
- set up in the 1580s with the Turkish empire
12
Q
Trading companies - Venetian Company
A
- set up by the ambassador of Constantinople
- sent good to the eastern Mediterranean
13
Q
Trading Companies - Eastland Company
A
- formed in 1579 for Poland to get into Baltic trade
- exported cloth and naval supplies with Hull and other ports
