Causes of the Mid-Tudor Price Rises
OCR History A
Mid-Tudor Crises, 1536-69
Social and Economic Change
- Created by: Harry Jordan
- Created on: 28-02-14 23:14
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- Causes of the Price Rises - Harry Jordan 12RO
- Bullion
- For
- Governments could mint more money as the output of central European mines increased fivefold between 1460 and 1530.
- Against
- The main influx of sliver coming from Spain's South American mines came after 1545 and so was too late to account for inflation
- Unlikely that enough silver reached England to account for inflation
- For
- War
- For
- Heavy spending increased demand and create inflation
- England had to borrow more money to provide for the army and defences
- Inflation peaked in the 1540s during heavy military spending
- For
- Bad Harvest
- For
- Crop failure reduced the amount of food available and forced prices up
- the 1540s saw a huge number of poor harvests
- Against
- Would only cause a temporary shortage
- Prices of industrial goods rose as well
- For
- Land Sales
- For
- More land up for sale after the dissolution of the monasteries
- Increased demand for land among the gentry and the merhcants forced prices up
- Against
- Land sales applied to very few and did not effect the prices of goods
- For
- Bullion
- Debasement
- Causes of the Price Rises - Harry Jordan 12RO
- Bullion
- For
- Governments could mint more money as the output of central European mines increased fivefold between 1460 and 1530.
- Against
- The main influx of sliver coming from Spain's South American mines came after 1545 and so was too late to account for inflation
- Unlikely that enough silver reached England to account for inflation
- For
- War
- For
- Heavy spending increased demand and create inflation
- England had to borrow more money to provide for the army and defences
- Inflation peaked in the 1540s during heavy military spending
- For
- Bad Harvest
- For
- Crop failure reduced the amount of food available and forced prices up
- the 1540s saw a huge number of poor harvests
- Against
- Would only cause a temporary shortage
- Prices of industrial goods rose as well
- For
- Land Sales
- For
- More land up for sale after the dissolution of the monasteries
- Increased demand for land among the gentry and the merhcants forced prices up
- Against
- Land sales applied to very few and did not effect the prices of goods
- For
- Bullion
- For
- Took place 1542-1551, same period as rapid price rise
- reducing amount of silver content meant that more money could be put into circulation. More money chasing same quality of goods can cause a price rise.
- Sellers demanded more money as they knew there was less silver in coins.
- Against
- Inflation started before debasement
- Inflation continued after Northumberland reduced money supply in 1551
- Inflation was prevalent throughout Europe
- Causes of the Price Rises - Harry Jordan 12RO
- More silver entering England from Spain during Elizabeth's reign
- Inflation started at the end of Henry VII's more peaceful reign and when Henry VIII's aggressive policies had begun.
- Against
- Tudor spending on war was not as high as modern standards so impact on inflation would've been minimal
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