H7 ECONOMY

H7 ECONOMY

1. Farming

   • There was a lot of open field arable farming and livestock farming
   • Farmers had grazing rights, most villages had common land which was shared.
   • There was some concern for enclosure in the late 15th C. Fencing off common land deprived villagers of land for their animals, land to hunt on too.
     • 1489 ANTI-ENCLOSURE ACT passed to deal w/ enclosure issues
       • Although the new anti enclosure act had little effect the amount of enclosed land did not increase much under H7
   • In the Midlands some farmers moved from arable to pasture farming as it was more profitable for sheep farming
   • Agriculture was still the main form of livelihood for peope

2. Cloth Industry

   • 80% of England's exports was cloth
     • Woollen cloth industry created the MOST wealth compared to farming
   • Cloth was exported to mainly the Netherlands, but also Spain, HRE and Venice
   • MERCHANT ADVENTURERS exported cloth and imported foreign goods into England
   • Cloth trade brought valuable income to the Crown from custom duties on exports

3. Foreign Trade

   • NAVIGATION ACTS 1485/6 passed to encourage the use of English ships to carry goods instead of foreign ships
     • e.g. Wines from France could only be imported in English ships
   • H7 aimed to break the stranglehold of the HANSEATIC LEAGUE (A league of German towns which had a monopoly of trade)
   • INTERCURSUS MAGNUS 1496- which allowed English merchants to trade freely w/ Burgundy
   • 60% more cloth was being exported to Europe in 1509 than there had been at the start of H7's reign
   • Henry gained the right for English Merchants to trade w/ the wealthiest state in the West Mediterranean, Venice as well as Florence