Economy Flashcards
(2 cards)
Successes:
Crown income was 110,000 pounds in 1509 and was 240,000 pounds in 1547
70% of English cloth exported in English ships
English cloth accounted for 60% of trade
Woollen trade exports doubled
Fifteenths and tenths tax
Act of resumption 1515
Tins was lucrative for English trade and exports
Imports of wine: spending power had increased for some of the classes and elites
Failures
Aggressive and expensive FP led to forced loans and subsidies
Amicable grant 1525
Debasement of the coinage and selling of monastic land were unpopular
Trade embargo with the Netherlands in 1527
No interest in exploration and finding new lands
Rural unemployment growing with the dependency on farming .
Gave over 200 forms of patronage to nobles
Over half of the population in Coventry were recorded as having no personal wealth
