Elizabeth I Economy
Trade –
During the reign the value of internal trade exceeded that of
foreign trade.
New trading companies were established with varying degrees
of success. For example, the Levant company developed trade
with the Ottoman Empire. However, the East India Trading
Company was less successful in establishing trade routes than
their Dutch equivalent.
Exploration –
In 1585, Sir Walter Raleigh gained the support of a number of
investors to explore North America, and he received a patent
from the Queen to colonise Virginia.
However, these proved disastrous due to poor organisation and
bad luck. The Queen was also unable to make them a priority
due to the Spanish War.
Urban Prosperity –
Some old towns declined, such as Winchester, and urban decay
is evident in boroughs dependant on the cloth industry.
New towns, such as Manchester, benefitted from a wider
manufacturing base.
Some towns were negatively impacted by the development of
London as a port; however others were able to benefit by
supplying its economic needs.
Trade –
During the reign the value of internal trade exceeded that of
foreign trade.
New trading companies were established with varying degrees
of success. For example, the Levant company developed trade
with the Ottoman Empire. However, the East India Trading
Company was less successful in establishing trade routes than
their Dutch equivalent.
Exploration –
In 1585, Sir Walter Raleigh gained the support of a number of
investors to explore North America, and he received a patent
from the Queen to colonise Virginia.
However, these proved disastrous due to poor organisation and
bad luck. The Queen was also unable to make them a priority
due to the Spanish War.
Urban Prosperity –
Some old towns declined, such as Winchester, and urban decay
is evident in boroughs dependant on the cloth industry.
New towns, such as Manchester, benefitted from a wider
manufacturing base.
Some towns were negatively impacted by the development of
London as a port; however others were able to benefit by
supplying its economic needs.
