Henry VIII: Economy Flashcards
(22 cards)
What happened to the woollen cloth exports during Henry VIII’s reign?
2x
What percentage of English cloth exports were carried in English ships?
70%
What is debasement of the coinage?
Silver content of coins is removed, and replaced by a cheaper metal to save money for the crown
What did Wolsey do to address the issue of enclosures?
- Passed legislation against enclosure in 1515
- Set up a commission in 1517
In which years did England suffer bad harvests?
1520-21
1527-29
What is the term for joining together 2 or more farms to make a single, large farm?
Engrossing
How many blast furnaces did England have to produce iron ore?
26 by 1547 in Sussex and Kent
What is a good example to highlight urban poverty?
Over ½ population of Coventry possessed no personal wealth
Which city was cloth increasingly exported out of, increasing its wealth at the expense of other towns?
London
What happened to the divide between rich and poor?
Widened
Which European port was the most important for English trade?
Antwerp
How much interest did Henry VIII show in exploration?
Very little with no attempt to build on the achievements of Cabot who discovered Newfoundland
On average, how many people were moving from rural areas to London each year?
5,000
How many people were found guilty of illegal enclosing during Henry’s reign?
188
What percentage of people lived off the land as subsistence farmers?
90%
Who is an excellent example of a clothing entrepreneur enhancing both wealth and social status during Henry VIII’s reign?
- William Stumpe MP
- High sheriff of the county, wealthy landowner and beneficiary of the monasteries dissolution.
What were 3 developments which indicate a boost to prosperity in Henry VIII’s reign? - Economy
- Population began to increase along with a general decline in mortality
- Agricultural prices rose meaning an increase in farming incomes
- Debasement of the coinage created an artificial economic boom.
What was a positive impact of engrossing and what did it come at the expense of?
It did improve efficiency and output, however at the expense of rendering families homeless.
When did Henry VIII launch the policy of ‘The Great Debasement’? What were the results of this?
- 1544
- Caused a short-term economic boom
- Later damaged living standards as it led to inflation across the country.
When did Henry VIII legislate against enclosure later?
1534
What is seen as the main factor for economic distress during the reign of Henry VIII? What issue with wages exacerbated this?
- Population increase
- Exacerbated by stagnation in wages
What percentage of England’s exports were cloth during the reign of Henry VIII?
80%
