Henry VII- The Cloth Trade

  • Created by: Melanie27
  • Created on: 13-12-18 14:53
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  • The Cloth Trade
    • Merchant Adventurers
      • Merchant Adventurers were a company of English merchants who were responsible for a large proportion of the cloth that was exported from London.
      • Henry used Merchant Adventurers as a way to undermine the Hanseatic League
    • Hanseatic League
      • Henry used Merchant Adventurers as a way to undermine the Hanseatic League
      • Hanseatic League is a group of free cities originating in the 13th century, which came together to form a commercial union with the intention of controlling trade in the Baltic sea.
      • Ships from the Hanseatic League were the primary carriers of English goods abroad.
        • The Navigation Act forbade English merchants from loading their goods on foreign ships. In 1489 a law was implemented that stated only English ships were allowed to be used to trade goods. Henry VII did this to protect the English market.
    • Importance of the Cloth Trade
      • Provided rural employment to supplement agricultural incomes.
      • The cloth trade was responsible for 90% of England's exports in the last quarter of the 15th century.
      • The cloth trade reinforced London's commercial dominance and established an axis based on profits with Antwerp, from which the cloth was transported around europe.

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