Economic developments in Elizabethan England Flashcards
(24 cards)
What happened to the cloth trade with the Netherlands?
It remained important but began to decline, trade moved from Antwerp to Amsterdam
How did landowners fare in Elizabeth’s reign?
Landowners benefitted as their incomes rose and they acquired a range of material possessions, also church lands were sold for profit
How did farmers benefit in Elizabeth’s reign?
Farmers benefited from increasing agricultural prices, though this disadvantaged the average person
What evidence is there of urban decay?
The growth of London had a detrimental impact on other cities and some old established towns declined with the cloth industry
What is some evidence of urban prosperity?
London’s growth also benefited other cities like Newcastle upon Tyne and new urban settlements such as Manchester developed
What happened to real wages?
Real wages fell
How many poor harvests were there?
9 out of 44 harvests in Elizabeth’s reign could be described as poor
During which period were there 4 successive bad harvests?
Between 1594 and 1597
Which region suffered most from poor economic conditions and what occurred in Newcastle to do with starvation?
The north, Newcastle reported burying 25 homeless people after dying of starvation
Where were the richest regions and where were the poorest?
The richest regions were in the South East, Norfolk and Suffolk. The poorest were in the north and west Midlands
When was there a subsistence crisis?
In 1596 to 1597 which threatened the social order
What was bigger: foreign or internal trade? And of whichever is bigger what was the single biggest development?
Internal trade far exceeded foreign trade. The biggest development of internal trade was the growth in shipping of coal from the river Tyne to Thames
Was there a growth in foreign luxury goods imports?
Yes there was suggesting a growth in incomes
What happened to the cloth trade?
It remained important but declined, it had begun to decline into Antwerp as early as the early 1550s. Trade moved to Amsterdam and the north German port of Emden
What attempts to establish new overseas markets took place?
Russia but this remained economically small
What was the main centre of African trade?
Guinea which was used by John Hawkins
When did John Hawkins make his first voyage to Guinea and what was it for?
In 1562 to transport African slaves across the Atlantic to South America
How did Hawkins’ activities anger the Spanish?
He sold enslaved people at Spanish ports against the rules of Spanish authorities
How did English trading patterns mainly change in the 1580s in 2 ways?
- main market for English wool moved from Southern Netherlands to Northern Netherlands
- increase in trade with the Ottomans
What did the Muscovy company set out to do and when was it established?
Established/ incorporated in 1555 to trade with Russia and northern Europe but it failed in the long term
When was the Eastland company set up and what did it inted to do?
Set up in 1579 to trade in the Baltics but failed in the long term
When was the Levant company set up and what did it intend to do?
Set up in 1581 to trade with the Ottomans which was successful
When was the East India Company set up and what did it intend to do?
Set up in 1600 to trade with Asia but couldn’t compete with the Dutch East India company
Was colonisation of North America successful in Elizabeth’s reign?
No, Walter Raleigh was supported by Walsingham and the Queen in 1585 to colonise Virginia but the attempts at doing so were disastrous. Elizabeth gave no further funding as she prioritized war with Spain
