90% of population lived off the land, harvest determined whether there was starvation. good harvest in 1485, 1500 bad harvests. decline of open field system (enclosing started) farming made less labour intensive which leads to rurua deopopulation
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Henry and Economy - What he inherited INDUSTRY
emergence of clothiers that collected wool and thread for exports (capitilised production) exports were increased because of the capitalist production. henry sponsored and developed the iron making industry
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Henry and Economy - What he inherited CITIES
London was the largest city, hundreds of market towns run by guilds, Norwhich, bristol, newcastke and coventry had about 1,000 people.
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Henry and Economy - What he inherited CLOTH TRADE
wool and cloth = 90% of all exports, merchant adventurers exported cloth from London, merchants of the staple exported raw wool through Calais, the Hanseatic league were a powerful trading coalition of German cities.
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CLOTH TRADE continued...
Henry used merchant adventurers as a way to limit trading rights enjoyed by foreign traders in England. in 1487 he banned the export of unfinished cloth by foreign merchants
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CLOTH TRADE continued
. in 1489 he ended the hanseatic league priveleges to control the export of Bullion from England, he restored them in 1504
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Henry and Economy - What he inherited SHIPPING
started reign with 7 ships ended it with 5. passed navigation acts in 1485 & 1489 and these encouraged shipping. paid for the construction of the first dry dock at portsmouth
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Henry and Economy - What he inherited COINAGE
introduced new coins in gold and silver, appointed Giles Daubeney as keeper of exchequer. introduced a shilling with the 1st portrait of the king. people melted the coins to produce more and this caused inflation and a rise in prices
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Henry and Economy - What he inherited VOYAGES OF EXPLORATION
henry copied spain and portugals voyages in search for new land, wealth and goods, he sponsored John Cabot, after his second expedition he never returned
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Henry and Economy - What he inherited TRADE
wine and wood from france, wrought iron from soain, cod from scandanavia, 95% of trade is internal, road network was extensive so traders used rivers and coast
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TRADE continued...
France- imposed restrictions after Henry backed brittany, agreed to reduce restrictions as part of treaty of etaples, ended all restrictions in 1495 to secure english neutrality in Italian wars.
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Card 2
Front
Henry and Economy - What he inherited INDUSTRY
Back
emergence of clothiers that collected wool and thread for exports (capitilised production) exports were increased because of the capitalist production. henry sponsored and developed the iron making industry
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