H7 Economy Flashcards
(15 cards)
Bonds and Recognisances.
Legal bond to perform an action or forfeit money + a formal acknowledgement of debt or obligation.
Acts of Attainder.
Declares a landowner guilty of rebelling against a monarch; the noble attained lost his title, lands and sometimes their life - heirs also disinherited.
Council Learned in Law.
System to ensure the king raised money and enforced his prerogative rights.
Extraordinary Revenue.
Money raised through one off payments - usually for emergencies.
Tonnage and Poundage.
The right to raise revenue for the whole reign from imports and exports.
Pension.
Payments made from a foreign power.
Embargo.
Restriction on trade to punish a target country and prevent it from carrying out certain policies.
Intercursus Magnus.
Major treaty that restored trade links between England and Burgundy.
Intercursus Malus.
Attempt to further English trader interest in Burgundy - never imposed.
Tariff.
Tax or duty to be paid on a particular class of imports or exports.
Real Wages.
Value of income in relation to the price of goods.
Open-field system.
System of landed estates renting strips of land to tenants to farm.
Merchant Adventurers.
Trading organisation, dominated cloth trade.
Hanseatic League.
Commercial union to control trade in the Baltic Sea.
Navigation Act.
Encouraged English ships to be used to transport to and from English ports.
