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Crown finances, Trade and navigation, Agriculture and land, Exploration,…
Crown finances
Key evidence
Shifted financial adminstration for the Exchequer to the Chamber, increasing efficnency
Increased income from crown lands, by reclaiming lands through attainders and wardships
Custom duties (largely from the cloth trade) provided around £40,000 a year
Feudal dues. bonds and recognisances, and legal fines bolstered revenue.
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Context
Henry's fiscal polices aimed to restore royal solvency after years of civil war. Hinancial discipline strengthened the monarchy's indepemdemce
Trade and navigation
Key evidence
Navigation Acts (1485, 1489) aimed to protect English shipping by requiring goods to be carried on English shipps.
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However limited shipbuilding and foreign dominace of trade (especially the Hanseatic league) restricted impact
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Context
Henry sought to strengthen England's trading position through treaties and legislation, but his success was mixed
Agriculture and land
Key evidence
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Some evidence of enclosure, but on a small scale - mainly in the Midlands
Regonial variation: mixed farming in the South/East, pastoral farming in the North/West Henry showed limited direct intervention in argiculture
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Context
Agrictulure remained the foundation of England's wealth and the main source of employment, though it evolved slowly
Exploration
Key evidence
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Follow-up expeditions by Sebastian Cabot (1508-09), though little immediate benefit
Bristol merchants were early sponsors of explorations, hoping to reach Asia via the Northwest
Henry provided limited royal funding, reflecting fiscal caution
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Context
While Spain and Portugal led the Age of Discovery, Henry VII cautiously supported limited exploration for new trade routes
Cloth trade
Key evidence
Raw wool exports declined, but finished cloth exports doubled during Henry's reign
Main export market: Antwerp, a major European cloth centre
Merchant Adventurers dominated the trade, centred in London
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Cloth towns such as Leeds, Halifax and Lavenham prospered
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Context
The Cloth trade was the lifeblood of the English economy under Henry VII, making up around 90% of English exports. The trade created jobs, encouraged urban growth and strengthened royal revenues through custom duties