Economic Development and Trade

Question 1

What was Ordinary Revenue ?

Answer 1

• Collected regularly

- Without permission from parliament

Question 2

What were sources of royal income ?

Answer 2

• Crown Lands
• Profits from Fuedal Dues
• Customs Revenue
• Pensions from other powers
• Profits from justice
• Extraordinary Revenue

Question 3

How did Henry generate revenue from Crown Lands ?

Answer 3

• Was the county’s largest landowner
• Through attainders, the Act of Resumption
• Rental income from his property= revenue

Question 4

How did Henry generate revenue from Crown Lands ?

Answer 4

• Henry was the county’s largest landowner
• Through attainders, the Act of Resumption
• Rental income from his property= revenue

Question 5

What was the Crown’s income at the start of the reign to the end ?

Answer 5

-£12,000 per year —> £42,000 per year

Question 6

What was the Crown’s income at the start of the reign to the end ?

Answer 6

-£12,000 —> £42,000

Question 7

What was Livery ?

Answer 7

• A fine paid to recover lands from wardship

Question 8

What was the Fuedal Aid ?

Answer 8

• Granted by parliament in 1504
• Crown could impose tax on their tenants
• For the knighting of their eldest son
• Marriage of their eldest daughter

Question 9

What was the Statute of Uses ?

Answer 9

• 1489
• Prevented landed property from being turned into trusts
• Frustrated landowners, made sure they paid tax

Question 10

How much was the pension France paid Henry annually ?

Answer 10

-£5000

Question 11

How did Henry generate revenue from Profits of Justice ?

Answer 11

• Fines and incomes from bonds

Question 12

How did Henry generate Customs Revenue ?

Answer 12

• Tonnage and Poundage had been granted for life
• Meant Import and Export revenues increased
• £40,000 annually

Question 13

What was Extraordinary Revenue ?

Answer 13

• Emergency money
• Needed parliaments approval
• Came from other sources

Question 14

How much money did Henry receive from extraordinary taxation ?

Answer 14

• £400,000

- Through taxing people

Question 15

How much money did parliament give Henry in 1489 ?

Answer 15

• 1489
• £75,000
• War against France

Question 16

What was Simony ?

Answer 16

• Type of extraordinary revenue

- Selling of church appointments

Question 17

What was the population of England at the start of the 15th century ?

Answer 17

2.2 million

Question 18

Where did most people in society live ?

Answer 18

• countryside

- relied on farming

Question 19

What were the main industries in urban areas ?

Answer 19

• Wool

- Cloth

Question 20

How many of the population were urban dwellers ?

Answer 20

-10% of the population were urban dwellers

Question 21

What event led to the decline in income of land ?

Answer 21

• The Black death

- 1/3 population died-shortage of workers- couldn’t grow crops

Question 22

What type of farming were people moving to in the 15th century and why ?

Answer 22

• Sheep farming
• Depressed profitability of crop farming due to black death
• Improved profitability of sheep farming
• Increasing demand for wool
• Population grew and trade overseas developed

Question 23

How was England divided agriculturally ?

Answer 23

• Lowland Zone : South and East

- Highland Zone : North and West

Question 24

What was Mixed Farming ?

Answer 24

• Common in Lowland Zone
• Involved growing crops
• Raising animals as livestock

Question 25

What was Pastoral Farming ?

Answer 25

- Dominated woodland areas | - Involved rearing of animals for animal products or meat

Question 26

What was Open-Field Farming ?

Answer 26

- Common in Lowland Zone - Form of landholding - Tenants lived on manor and farmed lands - Enjoyed common rights to keep animals - Came under pressure by enclosure

Question 27

What were Enclosures ?

Answer 27

- Ended all common rights to a piece of land held in the open-field system - Land restricted to the owner, no longer to be used by peasants

Question 28

What caused Enclosures ?

Answer 28

- Wool and cloth trades made sheep farming more profitable | - No longer need to farm land

Question 29

How much of English exports was cloth ?

Answer 29

-Cloth was responsible for 90% of English exports

Question 30

What type of cloth dominated the cloth trade ?

Answer 30

- Finished cloth dominated the trade | - Replaced raw wool

Question 31

What did the popularity of finished cloth lead to the development of ?

Answer 31

- Led to the development of weaving, fulling and dyeing - Offered opportunities for rural employment - To enhance agrarian incomes

Question 32

Where were the 3 main areas for the making of woolen cloth ?

Answer 32

- East Angila - West Riding of Yorkshire - West Country

Question 33

Where was raw wool exported from ?

Answer 33

- East-coast ports : Boston, Lynn and Yarmouth | - Through Calais by the Merchants of the Staple

Question 34

Where was finished cloth exported from

Answer 34

- London (commercial dominance) | - Through Merchants Adventures

Question 35

What was the Merchant's Adventures

Answer 35

- Trading Organisation - Dominated London's cloth trade with Antwerp - Had a positive relationship with the crown - Helped Henry negotiate trade treaties

Question 36

Why was Englands trade with Antwerp important ?

Answer 36

- From Antwerp, English cloth was transported over Europe | - Antwerp was Europe's main money market

Question 37

Why couldn't the Merchant Adventures achieve complete dominance of trade ?

Answer 37

- Unable to overcome trading privileges enjoyed by the Hansatic League - Reasserted by treaty in 1474 and 1504

Question 38

Why did Henry agree to the Hansatic League treaty ?

Answer 38

-Needed to ensure they would support Yorkist- Earl of Suffolk

Question 39

What was the Hansatic League ?

Answer 39

- Organisation of German merchants - Secured special trading privileges - Intention of controlling trade in the Baltic Sea - Exempt from customs duties - England traded wool and cloth in exchange for fish

Question 40

What were the Navigation Acts ?

Answer 40

- 1485 and 1489 - Only English ships could carry products to and from English ports - Wanted to encourage English shipping

Question 41

What other industries were there in the Tudor period ?

Answer 41

- Small industries - Weaving and brewing - Tin in Cornwall - Lead in upland areas - Coal in Durham

Question 42

What was the Crown's approach to trade ?

Answer 42

- Little consistency - Interested in maximising customs revenue - prepared to sacrifice revenue and trade to secure the dynasty

Question 43

How did England trade with their ban on trade with the Netherlands ?

Answer 43

- Merchants were required to direct their trade through Calais - Wouldn't trade directly - This invited retaliation from the Netherlands

Question 44

What were the results of the Navigation Acts ?

Answer 44

- Threatened Henry's relationship with the Hanseatic League | - Foreign vessels continued to transport English exports

Question 45

What was the impact of the trade treaties ?

Answer 45

- Showed Henry rated foreign policy and dynastic interests | - Greater importance than the interests of English merchants

Question 46

Why was Spain the most important country for England to build trade with ?

Answer 46

- Pioneering overseas exploration to the New World | - Exciting possibilities

Question 47

What was one Exploration that Henry VII invested in ?

Answer 47

- John Cabot - To search for Isles, countries or regions - Reported existence of fishing grounds - Never returned after 2nd voyage - His son Sebastian received sponsorship from Henry - Led an unsuccessful attempt to find the 'north west passage'

Question 48

What was the extent of Prosperity and Depression in this era ?

Answer 48

- Temporary rise in 1480's prices remained steady | - Building workers and agricultural labourers were better of in 1490's