Henry VIII Economy

• How did exports change during Henry's reign?

  Exports for finished cloth almost doubled but the raw wool industry declined.
• What route was most popular for exports? What was the result of this?

  London to Antwerp.

  This caused a decline in the ports from Bristol and Hull who had previously had a big share of trade.
• Which cloth developed in Henry VIII's reign?

  Kersey - It was lighter and cheaper than traditional broadcloth.
• What was the impact of the move towards finished products rather than raw materials?

  More specialised industries such as fulling and dyeing developed.
• Which areas benefited most off the growth of the Cloth Industry?

  The West Country - Devon, Wiltshire, Gloucestershire

  The West Riding of Yorkshire

  East Anglia
• Which landowner benefitted off the cloth trade to advance their wealth and social status?

  William Stumpe - High Sherriff of Wiltshire - Used his profits from te cloth industry to buy cheap land during the Dissolution of the Monasteries.
• Which industries developed during Henry VIII's reign?

  Mining remained England's second largest industry.

  Cornish tin remained England's second largest export.

  Lead mining in the Pennines and coal mining in the North East became increasingly important.

  Newcastle began supplying more coal to London.
• How many blast furnaces existed by 1550?

  26
• What attempts were made to make common land more profitable?

  Engrossing - combining farms together. This resulted in many people losing their farms (jobs).

  Enclosure - Selling off the common land. This led to people losing their animals and being evicted leading to vagabondage.
• When was enclosure most evident?

  Between 1500 and 1510. It declined in Henry VIII's reign.
• How did Wolsey try to tackle enclosure?

  In 1517 he commissioned an enquiry into the enclosure. This showed the harm it had on people and their communities.
• What was the impact of Wolsey's enquiry into enclosure?

  The Court of Chancery and Star Chamber increasingly heard cases involving enclosure, this meant peasants were entitled to a fair trial.
• How bad of an issue was enclosure?

  only 3% of land had been enclosed by 1547. However, it was a motive of some rebels in the Pilrimage of Grace.
• What areas were affected by inflation and by how much?

  Between 1509 and 1547, grain prices increased by 229%, livestock increased by 211% and wool increased by 97%.
• What caused inflation in the 1540's?

  Henry's debasing of the coinage to fund his wars.
• What was the other factor for inflation?

  The growing population as the population of London quadrupled in the 16th Century causing an increase to prices when there was little supply.
• How did the sale of monastic lands impact inflation?

  People bought land on credit as they were spending huge sums of money
• How did England prosper economically?

  • Agricultural prices rose in the 1520's which meant increased wages for workers and increased profits for land owners.
  • Debasement of the coinage led to a short term boost between 1544 and 1546.
  • Cloth and mining industries grew during the period
• How was England suffering economic issues?

  • Bad harvest between 1520 - 1521 and 1527 - 1529 increased food prices. The price of food nearly doubled during Henry VIII's reign.
  • Real wages declined for many due to inflation.
  • Poverty was prevalent across the country- 50% of Coventry and 1/3 of Yarmouth had no wealth.
  • Enclosure and engrossing heightened unemployment