IMPACT ON THE ECONOMY

Cloth industry:

-The number of cloths exported between 1470 and 1500 trebled which aided the crown's revenue as customs duties was its highest income.

Wool industry:

Foreign relations:

Trade:

-Increased trade expanded the merchant class.

-Each business specialised in a specific commodity.

-A lot of England's trade was conducted through the 'Hanseatic league' (a group of German merchants who had trading privileges across Europe and were exempt from custom duties in England). And, Venetian merchants.

-London had a diverse trade and was less susceptible to trade fluctuations.

-London merchants were rapidly gaining wealth and influence.

Henry VI role:

-Henry's reign marked a low point in trade. His poor relations with Charles VII of France halted the prosperous trade England had with Gascony.

-War began between English merchants (on behalf of the gov) and Hanse merchants. Hanse prevented the passage of English cloth to the East.

-Riots in London between Englishmen and foreigners damaged international relations as it undermined the activity of foreign merchants.

Edward IV role:

-Edward IV and Henry VII each tried to provide English merchants with privileges.

-Relationships with Burgundy improved after 1467 upon Louis XI's accession. Improvement in Burgundian trade.

-English and Hanse merchants remained at war on the seas.

-Edward's reclaiming of the throne in 1471 with the help of the Hanseatic league re-established good relations returned.

-Under Edward, England's direct trade with the East was restored and reopened markets.

-The value of land increased in Edward's second reign. He could charge higher rents.

Henry VII role:

-Edward IV and Henry VII each tried to provide English merchants with privileges.

-1485&1489- 'Navigation Acts' prevented the passage of certain imported goods in foreign ships.

-The Kingdom's market places greatly expanded under Henry.

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