11832542
Description
Flashcards by Tamara Majevadia, updated more than 1 year ago
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Created by Tamara Majevadia
over 6 years ago
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| Question | Answer |
| What was the population of England at the beginning of the 15th century? | 2.2 million |
| What was Henry's economic policy? | Although he was interested in building up his personal wealth, he had no specific economic policy. The Acts of Parliament that dealt with economic matters were mainly the result of the private lobbying of merchants who had a vested interest. |
| What were the characteristics of the agrarian economy? | income from land declined in the aftermath of the Black Death, but recovered in 1490s Greater move to sheep farming - reflects the profits from arable farming, and growing demand and overseas trade |
| What were the consequences for increased cloth trade? | The efficiency gains in terms of improved production and profitability came at a price for peasants who lost their access to land and common rights. This was widespread in the 1500's where it created moral outcry and political pressures. |
| How much of the exports were cloth? | 90% |
| What was the increase in volume of cloth exports under Henry? | 60% increase |
| What did the finished cloth trade lead to the development of? | Weaving - offered opportunities for rural employment to supplement agrarian incomes. |
| What was a consequence of this development? | some cloth towns e.g. Suffolk were prosperous while others were not as the industry moved to larger manufacturing centres |
| How did finished cloth reinforce London's commercial position? | increasing proportion was exported from London through the Merchant Adventurers - this established a commercial axis in Antwerp from here it was transported all over Europe |
| Why was the role of the Merchant Adventurers important? | Voice of the industry when its commercial needs were subordinated to national policy, King increasingly used their expertise to negotiate trade treaties. But they could not achieve dominance due to Hanseatic League which was reasserted by Henry in 1504. He did this to make sure that they did not support Suffolk |
| What was the Crown's approach to trade? | Little consistency Henry interested in maximising customs revenue Prepared to sacrifice revenue and trade in favour of dynasty and was also happy for Parliament to legislate in favour of sectional interests. |
| How were the weaknesses in trading policy shown? | Henry rated foreign policy and dynastic interests greater than interests of English merchants. Weakness shown when the attempt to make a breakthrough in Mediterranean trade proved a failure and the Hanseatic League was largely successful in limiting the development of English trade interest |
| What acts did Henry pass to encourage English shipping? | Navigation Acts of 1485 and 1489 - tried to ensure that only English ships could carry certain products to and from English ports. This has limited usefulness as foreign vessels continued to transport a substantial proportion of English exports. |
| What were Bristol merchants and seamen were interested? | Possibilities of transatlantic discovery as well as alternative fishing grounds to exploit having been excluded by the Hanseatic League |
| What was Cabot authorised to do by Henry? | search out for new isles and countries He discovered Newfoundland but was lost at sea on his second expedition |
| What were the characteristics of prosperity and depression? | Prices and wages remained stable decline in the export price of wool, grain and animal products 1490s - implies reduction in farming profitability but also rising wages for domestic consumers |
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