The economy

Question 1

population at the beginning of the 15th century

Answer 1

2.2M

Question 2

what were majority of the people relying on

Answer 2

The majority of the people at the same were relying on some form of farming for a living

Question 3

when did people live

Answer 3

10% of the population lived in towns such as York, Bristol, Norwich and Coventry. In these urban areas wool and cloth were the main industries

Question 4

economic aims

Answer 4

Re-establish English commerce
Consolidate power and the Tudor dynasty
Increase English Prosperity
Develop English Shipping
Break the Hanseatic league

Question 5

francis bacon

Answer 5

his thrifty mind would not endure to see trade sick

Question 6

key trade acts

Answer 6

Trading Embargo with the Netherlands 1493
Treaties with Spain and France
Magnus Intercusus 1496
Navigation Act 1485
Navigation Act 1489

Question 7

what was the Hanseatic league

Answer 7

Henry sought to break up the Hanseatic League a league of German towns which dominated trade in the Baltic. They aimed to maintain a monopoly of trade there

Question 8

overview of the navigation acts

Answer 8

Navigation Acts were passed which encouraged the use of English ships to carry goods rather than foreign ships. In particular wines from France could only be imported in English ships. All this assisted the activities of the London - based merchants adventurers.

Question 9

crowns approach to trade

Answer 9

The crowns approach to trade during Henry VII’s reign had little consistency. Henry was interested in maximising customs revenue, he was also prepared to sacrifice revenue and trade in the interests of securing the dynasty and he was also happy for parliament to legislate in favour of sectional interests (interests of a particular group within a community or country)

Question 10

navigation act 1485

Answer 10

The objective of these was to encourage English shipping by trying to ensure that only English ships should carry certain products to and from English ports. It forbade Englishmen from loading their goods on foreign ships when English ones were available. It reserved the lucrative trade with Bordeaux in France, exclusively for England. Wines from Gascony were to be imported only on English ships with crew that were at least 50% English.

Question 11

was the Navigation Act 1485 useful

Answer 11

the acts were only limited usefulness as foreign vessels continued to transport a substantial proportion of English exports

Question 12

Navigation Act 1489

Answer 12

Limited the export of English wool and made it illegal for foreigners to buy wool until English buyers had bought what they wanted first. It also made it illegal for foreigners to buy raw wool to manufacture cloth outside England. This reflected the needs of the important cloth industry in England and Henry was seen to show his support

Question 13

export of wool at the end of the reign

Answer 13

At the end of his reign, the export of raw wool was 30% lower than it had been in 1485. 60% more cloth was being exported in 1509 than at the beginning of Henry’s reign

Question 14

how did Henry try to encourage the cloth trade

Answer 14

Henry tried to encourage the English cloth trade by trading agreements with the rulers of Burgundy who controlled the port of Antwerp.

Question 15

trade agreements overview

Answer 15

The most important agreement was the Intercuses Magnus 1496 which allowed English Merchants to trade freely with all parts of Burgundy except Flanders. There were occasional disagreements and interruptions to this trade agreement but by 1509 English merchants were shipping more than half the cloth exported to the EU in 1509.

Question 16

how much cloth had been exported

Answer 16

Overall 60% more cloth was being exported to EU in 1509 than had been at the beginning of the reign.

Question 17

who hindered commerce relations

Answer 17

The growth of cloth being exported could have provided a foundation upon which healthy commercial relations could be built as it was fair to both sides, but the Merchant Adventurers continued to come into frequent conflict with the government of the Netherlands

Question 18

where was there conflict in trade

Answer 18

There was continued disputes as Phillip first tried unsuccessfully to impose a new import duty on English traders and then to confine them to Antwerp. Nor did Henry ease the situation by attempting to negotiate the surrender of the Earl of Suffolk. Though the terms of the treaty were still being debates two years later, it never came into full operation - by the following year, trading agreements had been restored on the basis of the intercusus Magnus

Question 19

malus intercusus

Answer 19

Phillip was persuaded to agree to a new trading agreement nickname the MI by Bacon because it was one-sided

Question 20

trading embargos

Answer 20

The biggest issue concerning trade in Henry’s reign stemmed from his embargo on trade with the Netherlands. He imposed this in 1493 as a result of the fear and insecurity brought about by Margeret of Burgundys support of Perkin Warbeck, Simnel as well as other Yorkists who wanted to usurp Henry. Instead of trading directly with the Netherlands merchants were required to direct their trade through Calais, this invited retaliation from the Netherlands, the embargo ended with the Intercusus Magnus. It stopped all trade and led to economic problems in England especially in East Anglia, Henry put consolidation of power above the economy

Question 21

evaluation

Answer 21

Henry’s policy on trade achieved some success but in a limited way. Customs duties rose at the beginning of the reign but compared with the Hanseatic League, Spain and France. Englands merchants were only trading small amounts. The main importance lies in the foundation laid and with the way in which the encouragement of overseas trade helped Henry to be secure

Question 22

trade treaties

Answer 22

Several trade treaties were concluded though these were of minor importance and showed that Henry rated foreign policy and dynastic interests as greater priorities than the interests of English merchants. Trading restrictions which had existed since Edward IV’s reign were removed in 1486. They were re-imposed in the following year as a result of Henry’s support for Brittany but largely removed again by the treaty of Etaples 1492.

Question 23

treaty of Etaples and the economy

Answer 23

This treaty while not primarily a trade treaty did not try to encourage Anglo-French commercial relations. Most of the remaining trading restrictions were removed in 1497. Weaknesses in trading policy were shown when the attempt to make a significant break through in Mediterranean trade proved a dismal failure and the Hanseatic League was largely successful in limiting the development of English trading interests in the Baltic

Question 24

merchant adventurers

Answer 24

They were trading organisations which dominated London’s trade with Antwerp. Merchant Adventurers dominated the economy and controlled trade in areas such as Newcastle and Bristol as well as agricultural towns such as Norwich. In 1505 Henry VII granted the merchant adventurers a charter whereby they were to appoint a governor with 24 assistants to run the organisation. They encouraged and promoted trade as well as contributed to the nation’s finances. The merchants provided loans to Henry to help finance the government, He borrowed sums of £10,000 from the Merchant of Calais. He expected the merchants to support his foreign policy even if it meant them losing trade or breaking contacts with foreign investors

Question 25

exploration

Answer 25

Henry showed interest in the geographical discoveries by supporting the voyages of John and Sebastian Cabot. John Carbot reached Newfoundland in 1497 and claimed it for England - cabot died on the way home. His son, Seb sailed in 1509 to China around the North of America, this was impossible but he reached Hudson Bay. When he returned convinced that he was on the way to finding a new route to the far east - VII died and VIII was not interested.

Question 26

why was henry keen to extend trade with France

Answer 26

Henry was keen to extend English trade abroad, particularly as the activities of pretenders of pretenders had shown how vulnerable was his dependence on Antwerp

Question 27

what did Henry do to develop trade with France

Answer 27

In 1486, Henry