Economy

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Created by
Summer C

Cards (8)

  • More trade happened through London having a negative impact on old ports such as Bristol
  • The Cloth trade grew significantly in areas such as the west Riding of Yorkshire, but it wasn't secure. William Stumpe gained from hi involvement in the cloth trade, e.g. became MP for Malmsebury, landowner and High Sherriff
  • Lead Mining in the Pennines increased slightly in importance and there were 26 Blast Furnaces by 1550s
  • Henry didn't care about exploration and Sebastian Cabot remained in Spain until the reign of Edward VI
  • Cost of Living crisis in 1540s and beyond due to population growth, wage decrease and debasement of coins, which had a negative impact following the short artificial economic boom in 1544
  • 5000 people approximately migrated to London per year
  • Bad Harvests in 1520-21 and 1527-29 added to rising food prices and the impact of enclosure was uncertain
  • Wolsey launched an enclosure commission in 1517 and launched successful legal proceedings against 188 defendant. Legislation was passed in 1534 to limit sheep ownership.