Trade and Economy

• 1440-80, England was suffering from a great slump. Was not helped by the civil wars, piracy and broken trade agreements.
• Merchants could trade independently but were often associated with guilds. Big livery companies included: The Goldsmiths Company, The Grocers' Company. The Merchants' Adventurers Company were involved with international trade. They felt impact of slump and did not return to pre-war levels until and of Edward's reign. By the 80s they were more prosperous than ever.
• Alien Merchants did not recover as well as English counterparts. Hanseatic League were in disputes with Edward until 1475. It did recover well following this but did not make same recovery.
• Economic and trade downturn was often blamed on immigrants. Parliament introduced tax on those over 12 not born in England, as well as poll taxes. Alien merchants were accused of being more wealthy than the English and taking money abroad from England.
• Wool trade:

  • 1459-62: sacks of wool exported per year fell from 8,000 to 5,000
  • 1465-69: upturn to about 9,000
  • after war broke out again, it was declining back to 1450s level
  • after 1471, it returned back up to just under 10,000