economic development under henry vii

what sectors of the economy in tudor england can be considered ?

• agriculture

• the cloth industry

• smaller industries e.g. mining

• trade

• price increases and the value of currency

• wages

• taxation

• harvest failures

• prosperity and poverty

what was henry vii’s economic policy?

• had no specific economic policy

• was interested in amassing own personal wealth and replenishing crown finances (desperately needed to be fixed after near bankruptcy following the war of the roses, hundred years’ war etc)

what parliament action towards the economy was experienced throughout henry’s reign?

• 50 acts were passed by parliament concerning the economy

  • mostly concerned with foreign trade, pushed through by powerful merchants e.g. merchant adventurers

what judgement can be made on the economic stability of england under henry vii?

• period of relative economic stability as a nation under governance of henry vii

• little evidence that allows estimation of the extent of prosperity and depression

• prices and wages appear to have rise slightly during 1480s

• price of wool, grain and animal products decline in 1490s

  • both remained relatively steady → could be argued that farming was becoming less profitable but incomes were rising

what change was made to the style of farming in the early stages of henry vii’s reign? why?

• gradual shift from arable (crops) toward pastoral farming (sheep, livestock etc)

  • encouraged by demand for wool as population and trade increased

  • pastoral farming became especially prevalent in the west of england

what style of farming became was popular in the east of england? why did it change?

• especially prevalent in eastern counties like lincolnshire and yorkshire

• mixed farming (crops and animals) was common→ farmed own strips of land in common field where animals called an open field system

• enclosure became more common → common land became closed off to increase efficiency or production

what industries were responsible for the majority of english trade?

• wool and cloth

• 90% trade

what can the smaller industries of english trade be referred to as?

cottage industries

what smaller industries continued to flourish under henry vii? extent?

• mining tin (esp. in cornwall), and coal, metal working, leatherworking, ship building, weaving, brewing

• relatively small scale operations with the exception of mining

what did the continued success of small scale industries represent about english society?

• were able to develop and widen operations → maintained high domestic demand showing reliability for income

• lacked infrastructure to expand internationally → unable to be relied upon in event of a collapse of england’s cloth trade

evidence of prosperity and stability in the economy during henry vii

• increasing cloth trade → 60%

• rise in yeoman farmers

• rise of merchant class

• prices remain steady → alludes to rising wages and incomes

• increasing power of the gentry

evidence for poverty and instability under henry vii

• enclosure and failure of 1489 anti-enclosure law

• 1492-1495 and 1503-1506 trade embargoes with burgundy

• failure of 1485 and 1489 navigation acts

• 1489 yorkshire rebellion and 1497 cornish rebellion (popular)

• mass migration of labourers from rural areas to urban towns for employment

• slightly reduced influence of the nobility (didn’t experience full potential of prosperity)

how many villages were wiped out by the black death?

over 1000 villages

what do the popular rebellions suggest about the stability and prosperity of english society?

• 1489 yorkshire & 1497 cornish

• showed economic concerns of public and discontentment toward parliamentary subsidies → not all experience prosperity

• undermined stability in short term

• aided stability in long term → allowed for earl of surrey to be made deputy of the north, expanding control

• no further popular outbreaks after 1497→issue had been settled, stabilising, prosperity felt more widespread

themes for essay on prosperity and stability

• agriculture and industry

• trade

• social groups

• rebellions