Henry VII: Economic Development - Cloth Trade Flashcards

1
Q

How important was the cloth industry to England’s exports?

A
  • Cloth exports made up 90% of the value of English exports
  • Cloth exports rose by an estimated 60% during Henry VII’s reign
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2
Q

What did Henry do about raw wool trade?

A
  • In 1489 an Act was passed which limited the export of English wool and made it illegal for foreigners to buy wool for making into cloth on the continent
  • This gave more business to domestic weaving, fulling and dying companies/farmworkers
  • Export of raw wool was 30% lower than it had been in 1485
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3
Q

How did Henry encourage cloth trade with Burgundy?

A

• Intercursus Magnus (1496)
- It allowed English merchants to trade freely with all parts of Burgundy except Flanders
- This normalised trade between England and Burgundy

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4
Q

What was the cloth industry like prior to and during Henry VII’s reign?

A
  • Trade was changing long before Henry’s reign from export of raw wool to export of broadcloth
  • This development continued under Henry VII with the growth of the Merchant Adventurers, and the decline of the Merchants of the Staple
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5
Q

What are the Merchant Adventurers and the Merchants of the Staple?

A

• Merchant Adventurers
- Company that exported finished cloth from London
- Helped reinforce London’s commercial dominance over England

• Merchants of the Staple
- Company that exported raw wool through Calais

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6
Q

How important was England to cloth trade in Europe?

A
  • By 1509, English merchants were shipping more than half the cloth exported to Europe
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