Trade

• Good trade with France

  • 1485 Navigation Act -  forbade import of Gascon wine unless used Eng. ships
  • 1486 Trade treaty - Removed restricts on Eng trade imposed pre-Henry
  • 1489 Navigation Act - ban import Toulouse woad unless used Eng ships
  • 1492 - Treaty of Etaples - French trade restrictions reduced
  • 1497 - Trading privileges for Eng merchants restored
• Bad trade with France

  • 1487 - French restriction restored due to Eng support of Brittany
• Trade success with Spain

  • 1489 Treaty Medina del Campo - allowed equal trading rights for merchants from both countries & fixed customs duties at rates favourable for Eng merchants
• Trade failures with Spain

  • 1494 Spanish Navigation Act had damaging effect on trade for England
• Trade successes with Burgundy

  1496 Intercursus Magnus

  • agreed to drop support of Warbeck
  • allowed English merchants to trade without having to pay customs duties (except in Flanders)
• Trade failures with Burgundy 


  • 1493 - Eng banned cloth trade w Burg due to support for Warbeck but Burg responded w its own embargo vs Eng (PRETENDER)
  • 1505 - Eng trade Ban w Antwerp. Edmund de la Pole taken refugee in Burg & Henry wanted him handed over (PRETENDER)
  • 1506 - Intercursus Malus allowed Eng exports to enter Burg w/out duties but was never implemented
• Trade failures with Hansa League


  
  

  • 1489 Bullion prohibition - Hansa ships banned from exporting Eng gold/ money
  • 1493 - Hansa's London HQ attacked by mob angry at its privileges - Henry paid only minimal compensation
  • 1504 Henry supported an act to restore Hansa's privileges as he want de la Pole handed over (PRETENDER)
• Trade successes with other European countries

  • 1486 commercial treaty w Brittany
  • 1489 Treaty of commercial friendship with Portugal
  • 1489 trading rights established w Denmark
  • 1492 Henry imposed big duties on Venetian win - Venice (world's greatest trading nation) backs down so restored duties on Eng goods back to old levels
  • cloth exports up about 60% during reign - more revenue for Crown
• Exploration 


  
  

  • Henry showed interest in foreign exploration & considered financing voyages of Columbus (but Council advised him against that)
  • 1496 Henry granted letters to John Cabot - permitted them to investigate, claim & possess any new lands (as long as didn't intrude on Spanish or Portuguese territories) - believed would make a fortune funding route to Far East by sailing west
  • funded Cabot's first journey to the sum of £50 - but caution served him well as Cabot's first voyage not successful
• Conclusion of Henry's trade policy 


  • trade always secondary to need to secure throne
  • policy changed depending on circumstances - could be considered - positive, reactive or erratic - and arguably all these things at the same time!
  • maintained reasonably good economic relationship w Burgundy (crucial trade partner) despite periods political dispute
  • 1485-1509 increased custom duties by 20% - from £33,000 to £40,000