Economic Developments Under Henry VIII

What happened to the volume of English Trade in the first half of the 16th century?

It increased (with occasional downturns)

What industries saw a continuous rise?

Cloth exports, exports of hides and tin

What market declined?

Raw wool

Which export almost doubled in Henry's reign?

Woollen cloth

What does the increased import of wine suggest?

That the spending power of the more prosperous classes increased

What was the leading route for exports from England?

From London to Antwerp, from which it was often sent to customers in Central Europe and the Baltic

Where was exported cloth often travelling through and what problems did this cause?

An increasing proportion of cloth was travelling through London. This had a negative effect on other ports, particularly Bristol, and some other east coast ports such as Hull or Boston and traders found it hard to compete with their London rivals

Where else enjoyed a boom in trading?

Southampton, especially with trade with Venice

What was the biggest change in the cloth industry?

The increase in cheaper fabrics such as kersey

What was kersey?

A coarse woollen cloth which was lighter than the traditional English broadcloth and which took its name from the village of Kersey in Suffolk. Its lightness broadened its appeal

What percentage of cloth exports were transported by English merchants?

about 70% from the 1550s

How did the woollen industry operate?

largely on a domestic basis, with children carding the wool, women spinning and men weaving it. This was then sent for specialist treatment such as fulling or dyeing which appeared in specialist units around the country

Which areas saw the greatest growth in the cloth industry?

- West Riding of Yorkshire

- East Anglia (especially south Suffolk)

- Parts of the West Country (especially Gloucestershire, Wiltshire and Devon)

Which people were able to make great profit in the cloth industry?

- Rich and entrepreneurial clothiers

- They were not only able to acquire huge wealth, but they also were able to enhance their social status

Who is a good example of someone who was able to enhance their lives with the cloth industry?

- William Stumpe

- He became MP for Malmesbury, high sheriff for the county, wealthy landowner and beneficiary from the dissolution of the monasteries

What industry did see some growth?

The mining industry

Which tin remained a prize export?

Cornish Tin

Where was lead mining growing in importance?

- Northeast of England

- Newcastle supplied an increasing amount to the trades of London

How many blast furnaces were there by the middle of the century?

- 26

- these produced an increasing amount of iron ore in Kent and West Sussex

What was Henry VIII fairly uninterested in compared to his father?

Exploration

What was Robert Thorne involved in at this time?

An Iceland and Newfoundland fishery

Who was Sebastian Cabot and where did he remain for the majority of Henry's reign?

- An Explorer

- He remained in Spain until the corination of Edward VI

What did John Guy argue about economics in this period?

'England was economically healthier, more expansive and more optimistic under the Tudors than at any time since the Roman occupation'

What points can be made to support Guy's view?

- Population grew significantly

- From 1520s, agricultural prices rose significantly

- Debasement cause a momentary boom

What points can be made against Guy's views?

- Bad harvests led to higher food prices, causing problems for more urban workers

- Real wages declined

- Assessments indicated a high level of urban poverty

- There is evidence of growing unemployment in rural labour

- People were made homeless because of engrossing

What is engrossing?

The joining together of two or more farms to make a single agricultural unit; It could be seen as improving efficiency and output at the cost of rendering families homeless

What was debasement?

The reduction in the silver content of coins (replaced with base metals). As a result of this, shopkeepers put up their prices, which resulted in an increase in the rate of inflation

What document highlighted the impact of enclosure?

Thomas More's 'Utopia'

What did Wolsey do in response to enclosure?

He launched an inquiry into enclosure and found 188 defendants who had enclosed illegally

Where was enclosure most commonly found?

In the Midlands

What was the main underlying cause of economic distress?

The increase in the population, as it put a considerable strain on food

What was their a plentiful supply of at this time?

Cheap labour

Who benefited from the population increase?

Landowners and wealthier Farmers

What did John Guy argue about agricultural improvement?

'Agricultural improvement promoted economic growth at the cost of of peasant distress; increased production generated prosperity for landlords and impoverishment for wage-earners'

What did society become in this time?

More polarised, which undermined traditional ideas of good lordship and social responsibility

What happened as a result of this change of society?

'the rich became richer and the poor became poorer'