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This article is a discussion of the allocation of merchants' capital in early Tudor London among household furnishings, business inventories, debts, orphans' estates, landed property, and other forms of income. Previously, historians had to rely on either goods or income summary assessments in the enrolled subsidy returns to estimate wealth. These newly discovered valuations for 1535 provide quantitative evidence for the enormous importance of credit in trade, and show that merchants, as soon as they could, invested much of their wealth in property.

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The making of worsteds was critical to the economic success of Norwich from 1400 to 1550, replacing woollens as the town's main industry. Critical to this success was the development of very high quality double worsted, woven and finished to give it qualities similar to silk. It was used for both clothing and home furnishings. In the second half of the fifteenth century double worsted became an important and profitable export. Double worsted declined in the second quarter of the sixteenth century as cheaper, continental light draperies entered the market. Historians have underestimated the importance of the double worsted, and have incorrectly viewed the early sixteenth century as a period of rapid decline. However, there is evidence that Norwich was reasonably successful in diversifying its worsted cloths to sustain its textile manufacturing, and that this prepared it for even greater success in the seventeenth century.