Trade, Commerce and Exploration under Henry VII
- Created by: Loooosse
- Created on: 30-05-17 20:21
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- Trade and Commerce
- Navigation Act
- 1485-86: Forbade English merchants from loading their goods onto foreign ships if English ships were available
- English ships had at least 50% English crew
- Transportation of Gascony wine to England forbidden in anything other than English ships
- 1489: only English ships were allowed to be used to import goods and a foreign ship could only be used when English ships not available
- 1485-86: Forbade English merchants from loading their goods onto foreign ships if English ships were available
- Italy
- Venetians imposed large tariffs on all English imports after a few English merchant ships export malmsey in 1488
- 1490: a trade treaty was signed that provided for English wool to be imported into Pisa, the main port of Florence
- Hanseatic League
- 1487: Henry banned the export of unfinished cloth by alien merchants
- 1493: Henry paid minimal compensation when the Hansa's London headquarters were attacked by an angry mob
- 1489: Prohibition on the Hansa's export of bullion
- Customs duties
- Granted tunnage and poundage for life in 1485 Parliament
- 1507: New Book of Rates
- Customs duties increased 20% during reign: £33,000 in 1485; £40,000 in 1509
- Company of Merchant Adventurers given charter in 1505 by Henry
- Treaties
- 1496: Intercursus Magnus, English merchants could trade freely in all parts of Burgundy except Flanders
- 1506: Intercursus Malus, allowed English merchants to import cloth duty and tax free into the low countries
- 1489: trade treaty with Denmark that gave English fisherman the right to fish in Icelandic waters
- Exploration
- Royal Council advised against financing Christopher Columbus
- gave £50 for John Cabot's first (unsuccessful) voyage
- 1494: Treaty of Torsedillas set up Line of Demarcation for New World between Spain and Portugal by Pope Alexander VI
- 1497: John Cabot reached Newfoudnland and claimed it for England, and his son Sebastian found Hudson Bay in 1509
- Wool
- Woolen cloth made up 90% of England's exports
- At the end of his reign exports of raw wool was 30% lower than it had been in 1485
- Overall, 60% more cloth was being exported to Europe in 1509 than had been at beginning of the reign
- Navy
- First monarch to build a fortified naval base at Portsmouth
- Left Henry VIII nine ships, but of good quality
- The 'Regent' weighed 600 tonnes with 225 cast-iron guns, that each weighed 250 pouns
- Encouraged merchants to build ships of at least 80 tonnes that could quickly be transformed into naval ships
- Navigation Act
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