Alex- Henry VII and Overseas Trade

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  • Henry VII and Overseas Trade
    • The Cloth and Wool Trade
      • It accounted for over 90% of all foreign exports and therefore was the most important
      • The Merchant Adventurers
        • Controlled exports of English cloth
        • Grew under Henry's rule due to his interest in English trade
      • The Hanseatic League
        • A powerful trading coalition of German cities
        • 1489- the Hanseatic League's control over exports of English bullion was ended. However, this was restored   in 1504, as Henry needed their support
        • 1487- all foreign exports of unfinished cloth were banned by Henry
          • The Cloth and Wool Trade
            • It accounted for over 90% of all foreign exports and therefore was the most important
            • The Merchant Adventurers
              • Controlled exports of English cloth
              • Grew under Henry's rule due to his interest in English trade
            • The Hanseatic League
              • A powerful trading coalition of German cities
              • 1489- the Hanseatic League's control over exports of English bullion was ended. However, this was restored   in 1504, as Henry needed their support
              • 1487- all foreign exports of unfinished cloth were banned by Henry
                • The Merchant Adventurers were used as a way to control the power of the Hanseatic League
                • Merchants of the Staple
                  • Exported raw wool through Calais to be traded in Europe
                  • Due to the unstable relationship with France, the Merchants grew to be less significant
            • The Merchant Adventurers were used as a way to control the power of the Hanseatic League
            • Merchants of the Staple
              • Exported raw wool through Calais to be traded in Europe
              • Due to the unstable relationship with France, the Merchants grew to be less significant
          • Henry's outlook
            • He equated overseas trade with an extension of his power, so it was important to him
            • It could lead to expansion abroad which would increase England's wealth
            • Wealth meant more power for Henry
              • It could lead to expansion abroad which would increase England's wealth
            • No obvious pattern to Henry's trading; he was an opportunist
            • It was always secondary to ensuring a peaceful and stable kingdom
          • Trade with France
            • 1486- a treaty between France and England was negotiated that would remove all restrictions on trade between the two, but it never came into effect
              • Due to a quarrel over Brittany, the treaty failed
            • Treaty of Etaples
              • Fully negotiated and put into effect in 1497
              • It was hoped that England would profit financially from the treaty
              • It was hoped that it would signal an end to tense Franco-English relations.
                • The French monarchy would no longer give support to English Pretenders
            • Trade between the two was often used as a political 'bargaining chip'
          • Shipping
            • The Navigation Acts (1485 and 1489)
              • Declared that English crew and ships must be used in certain trades
              • Encourage English shipping, and decrease dependence on foreign ships/crew
                • Important because English seamen were beginning to look to explore new lands
            • Henry's reign started out with 7 ships, but this decreased to 5 in 1488. This number then did not change throughout the rest of his reign
          • Burgundy
            • 1496- Intercursus Magnus was signed
              • This allowed English merchants to trade freely throughout Burgundy except in Flanders
              • Signed after Burgandy withdrew support for Warbeck (a pretender)
            • Home of Margaret of Burgundy; relations were tense due to her dislike of Henry
              • She supported pretenders to the English throne and harboured escaped English rebels
              • 1493- trade embargo due to her support of Perkin Warbeck
            • 1506- Intercursus Malus signed
              • It gave English merchants so much power in Burgundy that it was never implemented
          • Spain
            • Pioneering overseas exploration to the 'New World'
              • Led to exciting trade opportunities
            • Marriage negotiations (Prince Arthur and Catherine of Aragon) led to trade talks; 1489- Treaty of Medina del Campo
            • Never allowed the English to have as much access to trade with the 'New World' as Henry would have liked

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