Henry VIII | Trade and Exploration | Economy Flashcards
(8 cards)
What were the main exports into England during Henrys reign ?
How had this changed comapred to Henry VIIs England ?
-Woollen cloth
-Raw wool
-Kersey ( cheaper fabrics)
-Cornish tin
There was an overall decrease in the amount of raw wool exported, however the woollen cloth trade into Europe doubled. And, there was an increase in other exports such as kersey and Cornish tin, which is significant in comparison with Henry VIIs mainly raw wool based economy.
What was the mian import from Europe into England ?
What may this signify ?
Wine
An increase in the amount of wine imported perhaps shows more people across Engalnd were better off financially, leading to them being able to afford a more lavish lifestyle, as more expensive good became more readily available to a larger population.
What were the major trade routes used by England ?
What does this show ?
-London to Antwerp
-Southampton to Venice (short-lived)
Displays how crucial London was to English trade, as most goods passed through London and other traders in smaller less signifcant ports struggled to compete. aswell as this, the use of Antwerp to access trade into central Europe snd the Baltics shows how crucial healthy relations with the HRE was for the English economy.
Overall which two industries grew in the early 1500s ?
-Mining industry
-Woolen cloth industry
What was Henrys views on exploration ?
What are the potetial impacts of this ?
Henry was not at all interested in exploration and made no attempt to build on the exploration started under Henry VII, and instead strived for territorial gains in Europe through militarism.
Engalnd as a whole fell behind in terms of exploration as Spain and Portugal continued to thrive in the Americas, which influenced trade of new goods and eventually the slave trade, which bolstered Spanish economy.
What were two issues Henry faced in regards to economy ?
Why were these problematic ?
-Enclosure of farmland
-Rising population
Enclosure of farmland was problematic, as although it benefits the economy, as farming becomes more effcetive, it widens the economic gap between the poor and the rich, as the poor would be evicted and lose there way of income as farmhands, which puts a strain on the commoner majorty of society. Also, the rising populatin put an economic strain on the commoners and therefore caused issues for Henry as, a higher population and a combination of bad harvests leads to food shortages and therefore an insufficent amount of food, decreasing the quaity of life for the majority.
What were the negative aspects of Henry VIIIs economy ?
Why are these significant ?
Rising food costs due to bad harvests (’20-’21, ’27-’29)
Real wages declined due to debasement
Urban poverty
Growing unemployment amongst rural labourers
5000 migrants to London a year
Rise in homelessness overall
Rising food costs are problematic, as wealthy farmers amd landowners profit from rising food costs however the majority of society struggled to afford their basic needs. Henrys debasement of coinage contributed to the decrease in real wges and overall decrease in quaity of life, and urban poverty in society was detrimental, as overpopulatioon in towns and cities was the cause of not only poverty but a lack of available jobs. However despite this, 5000 migrants still arrive dinto London each year, due to struggles in the country to make a living.
What were the postives of Henry VIIIs economy ?
-Population growth led to decline in mortality rate by 1525
-Agricultural price rises led to increased farming incomes throughout the 1520s
-Debasement of coinage created a short-term artificial boom from 1544-1546
