Chapter 11 - Economic developments in the reign of Henry VIII Flashcards
What was the most important export?
Cloth
What market declined during H8’s reign?
Raw wool
Which English company flourished?
Merchant adventurers
Which exports increased and what did they reflect?
Cornish Tin, Hides, furs and wines
The spending of the elites increased
What % of cloth exports were transported by English merchants?
70%
Which 2 figures did Henry not attempt to build on the achievements of?
Cabot and the Bristol merchants
Where did Sebastian Cabot remain for most of H8’s reign?
Spain
What created a short-term artificial boom in 1544-46?
Debasement of coinage
Why was there an attempt of debasement?
The crown tried to create more money to meet expenditure
When did Agricultural prices start to increase?
1520s
When had legislations against enclosure been passed?
1489 and 1515
What was the underlying cause of economic distress?
Increase in population
What was the effect of the population increasing?
It put a considerable strain on the supply of food which made it difficult to meet the rising demand
Who benefited from population increase?
Wealthier farmers and landowners
What happened to society during H8’s reign?
Became more polarised
