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Economy under Henry VII - Coggle Diagram
Economy under Henry VII
Cloth and wool
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cloth exports grew from around 50,000 cloths per year in the early 1480s to around 80k by 1509
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Henry passed a series of Navigation acts in 1485 and 1489 requiring certain goods to be carried in English ships
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Exploration
1497 John Cabot sailed from Bristol underroyal letters patent and reached North America establishing England's first real claim to the continent
Economy
By 1509 genuine signs of prosperity- but economy remained dangrously dependent on a single commodity and a single market
Merchant Adventurers
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Henry worked closely with them granting trading privledges in exchange for financial support and political loylalty
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