Economy during Elizabeth I's Reign
- Created by: brennamackay
- Created on: 06-05-19 23:26
View mindmap
- Economy during Elizabeth I's reign.
- Land & Agriculture
- Agricultural production increased.
- Increase food rotation.
- Bad harvests 1594-1597.
- More land used for farming - smaller farms became larger.
- Trade
- Cloth making in rural areas increased, although some old cloth towns e.g. Winchester died.
- Shipbuilding & ports grew with trade.
- Increased legislation to regulate trade & industry - 2 Navigation Acts; Statue of Artificers 1563; Acts to regulate cloth, leather etc.
- Urban Prosperity
- New urban settlements developed.
- London grew and provided a market for international goods.
- South-East, Norfolk and Suffolk flourished.
- Slight decline in Antwerp due to war with the Netherlands.
- Increase in vagrancy.
- Depression
- Four consecutive failed harvests 1594-1597 led to serious poverty.
- 1596 - real wages collapsed to less than half of the level they were 9 years ago (1587)
- People died of starvation in the far north - 25 people in Newcastle.
- Regions
- London grew to 200,000 in 1600, and remained the largest city.
- The poorest regions were the North and the West-Midlands
- North/South divide increased - labourers goods in Hertfordshire worth 3x those in the North.
- North East Passage
- 1553 - Willoughby and Chancellor sailed North-East and gained a trading relationship with Russia.
- 1560 - trading relationship formed with Prussia.
- North West Passage
- Frobisher smiles North to Canada in 1576 and discovered new land.
- Drake circumnavigated the globe 1577-1580 (but failed to make a trading route to China through North America)
- Failure to make trading links with North America 1585-1587.
- Slave Trade (West Indies)
- John Hawkins went to Africa 1562 - took slaves to West Indies in return and brought home money & sugar.
- Drake's circumnavigation = propaganda & undermined Spain's reputation.
- Drake raided west coast of America and captured some Spanish ships; voyage 1577-1580 made 4000% profit.
- Colonisation
- Many attempts at colonisation failed - Raleigh attempted Virginia 1585 & 1587 but failed.
- Land & Agriculture
Similar History resources:
Teacher recommended
Comments
No comments have yet been made