Exploration and Trade under Elizabeth I in England | A LEVEL HISTORY | Get A*

Video on Elizabeth's Financial Policy for A LEVEL. Explanation of the exploration and trade under Elizabeth I and how this impacted Elizabeth's finances, as well as war with Spain. Explained by a fully qualified and experienced history teacher.
Lesson 6 in Elizabeth Financial Policy series.
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(background knowledge:)
francis drake was set out to challenge the dominace Spain had on the New World
(for elizabeth to subtly show her authoirity in European affairs)
Spain had dominance and presitige due to the number of colonies that they had
elizabeths goals
-generate revenue for the crown
-obtain raw materials to trade
-new trading routes/ partners
(colonies= lucrative)
sir walter raeligh recieved a Charter to try and combat spains dominance
by finding somewhere that they hadnt discovered
1587- virginia
roanoke failed to flourish as expected
(mystery of lost colony)
.. so colony concept failed during Elizabeths time
to expand trade opportunites and increase nation wealth by finding new markets
more lucrative opportunities for England
(Spain + Africa during WoR and lost all trade except with Netherlands so Elizbeth attempts to try and catch up)
internal trade increases and develops
e.g. coal from north to south
development of trade between cities (due to migration from rural areas to urban cities)
before, england couldnt afford to antagonise the Hasburg allies by breaking the hanseatic league
1560 decline of antwerp market so breaking this became neccessary
increase of foregin goods that were more accessible and affordadable
england began to create companies that were responsible for different parts of the world
created to exploit the markets and were created by the crown:
Muscovy Company (1555)
trade links with Russia established
had monoploy granted by E1 in 1577
arose due to exploration
Levant Company (1581)
trade links with the Medittarian and Ottoman Empire
exported mainly tin and cloth
imported raw silk spices cotton carpets
lucrative
very valuable to englands profit
East India Trading Company (1599)
granted a charter in 1600
allowed the former monoploised spice trade to be broken up by England as a connsequence of the Armada
Hawkins and slave trade
E1 allowed hawkins to plunder spainish ships for loot
captured 300 slaves and took them to plantations in America and exchanged them for pearls and sugar
this was supported by E1 due to increase income
trade and protestantism
suggested by Max Weber
-that the european participants in the Hanseatic league had to be protestant
-that Englands protestantism lay the base for its economic dominance by the 18th century