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Economic Development, Henry VIII (Negative? (increase of exports going…
Economic Development, Henry VIII
Positive?
rise in cloth exports, as well as tin and hides
increase in imports of wine, showing more prosperity
increasing proportion of exported cloth went through London, allowing for better links with Antwerp and Burgundy
coal grew in importance, as well as iron ore
farms gained more income through higher prices and engrossing - wealthy such as the MP William Stumpe in Wiltshire who became very wealthy.
Population increase meant that labour was cheap due to high unemployment, so this was good for farmers and land owners. It also showed a declining mortality rate
Negative?
increase of exports going through London meant that ports such as Hull and Boston declined, and although Southhampton enjoyed a boom with Venice this was short lived
engrossing joined two or more farms together, meaning families were often left homeless and jobless
debasement of coins, which was replacing the silver with cheap metals or shaving some metal off to save money and devalue the currency meant that inflation grew and prices rose
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there was considerable urban poverty, with half of Coventry and a third of Yarmouth considered as having no personal wealth
growing unemployment among rural labourers, with over 5000 migrants a year arriving in London
increase in population put strain on food supplies, with wages stagnating and prices rising
Exploration
Henry was uninterested in exploration and expeditions of Cabot and the Bristol merchants, with S Cabot staying in Spain for most of his reign.
Despite the lack of royal support however, Bristol merchant Robert Thorne continued his involvement in Iceland and Newfoundland