HVII TRADE/ECONOMY Flashcards
WHAT did the Navigation Acts do?
Forbid products from being loaded onto foreign ships at English ports if an English ship was available, encouraging English shipping.
WHEN were the Navigation Acts passed?
1485
HOW successful were the Navigation Acts?
They were successful in promoting the English cloth trade, but 50% of England’s exports were still carried by foreign ships.
WHEN did Henry VII limit the export of raw wool?
1489
WHAT percentage of the value of English exports was the cloth trade responsible for during Henry VII’s reign?
90%
WHEN did Henry VII introduce a trade embargo against Burgundy?
1493
WHAT were the Merchant Adventurers?
A group who encouraged the trade of cloth in England.
By HOW MUCH did the volume of English cloth exports increase during Henry VII’s reign?
Over 60%, according to historian Jack Lander
HOW did farming change during Henry VII’s reign?
1) There was a move towards sheep farming in the 1480s/90s and away from arable (crop) farming.
2) As result, more land became enclosed and peasants began to lose their common rights (but not so frequent yet)
WHICH countries/organisations dominated trade during Henry VII’s reign?
The Hanseatic League, Venice and Spain
WHO was John Cabot?
An English explorer who was supported by Henry VII.
WHAT did John Cabot ‘discover’ and WHEN?
In 1497 he set sail to explore and he found what became known as Newfoundland
HOW successful were attempts at exploration under Henry VII?
Not largely successful. While there were some ‘discoveries’ of areas in the New World from explorers like Cabot and Weston, many voyages were unsuccessful.
Did Henry VII support exploration?
Yes. He sponsored explorers such as John and Sebastian Cabot in ther voyages.
