HENRY VII - ENGLISH ECONOMY

What happened to income from land after the black death?

it declined, though it increased again in the 1480s and 1490s

Why did land income begin to increase again?

sheep farming became more profitable and crop farming less so

Why did the need for wool develop?

overseas trade

What two agricultural zones could England be divided into?

the lowland south and the highland north

What was a common type of farming for lowland areas?

mixed farming with pastoral farming dominating wooded areas

What type of farming occurred in the Fenlands?

Horse breeding

Where was open field husbandry concentrated?

southeast and midlands in grain growing areas

How much of England’s exports did wool account for?

roughly 90 percent

What is Jack Lander’s estimate for the increase of cloth exports under Henry VII?

over 60 percent

Where was the bulk of the raw wool from?

the east coast, then shipped to Yarmouth and exported through Calais by the mechants of the Staple

What new item began to dominate the wool trade?

finished cloth

What did the production of finished cloth lead to?

the development of weaving, fulling and dyeing

What happened to cities due to the cloth trade?

new cloth towns like Lavenham were set up but older historic cities struggled like Winchester

When were the merchant adventurers set up, who by?

1407, members of the mercers company

Where the merchant adventurers influential?

wealthiest and most influential merchants in the city of london

What did the merchant adventurers dominate?

london’s cloth trade with antwerp and it matched the dominance of the calais staple

What kind of relationship did the \merchant adventurers have with the crown?

a positive one

When did Henry impose an embargo with the netherlands, why?

1493, due to fears of Margaret of Burgundy;s support for Warbeck

How did Merchants trade with the netherlands?

by trading through Calais

How did the embargo with the Netherlands end?

with a treaty, Intercursus Magnus but it was still debated two years later

What does Intercursus Magnus mean?

great intercourse

What does Intercursus Malus mean?

evil intercourse

Who termed intercursus magnus and intercursus malus?

Francis Bacon

Why was Intercursus Magnus set up?

so that english merchants could export to any part of the duke of burgundy’s lands bar flanders, swift justice could be carried out

Which countries dominated overseas exploration?

portugal and spain

What were bristol merchants and seamen interested in?

the potential of transatlantic discovery, in 1494/5 they were excluded from icelandic waters

What di John Cabot dicover, when?

Newfoundland, 1497

What happened to many peasants as a result of improved profitibality and production?

lost access to lands, common rights and were left destitute

What did the merchant adventurers act as the voice of?

industry and the king quite often used their expertise in negotiating treaties

What did the merchant adventurers struggle with?

the dominance of the hanseatic league

Why did England remain dependent on the cloth trade?

other industries were dominated by opther countries

What mining occurred in England?

tin in cornwall, lead in pennines, iron in sussex and coal fro newcastle

Why did intercursuis malus occur?

extorted from Philip in 1506 due to his weakness, never fully operative

What happened to trading restrictions imposed by edward IV?

rem,oved in 1486 and then reimposed a year later

What happened to most of the trading restrictions?

lifted in 1497