1. The Development Of Imperialism c1857-c1890 - Trade And Commerce Flashcards
In the 18th Century, how were trade and commerce regulated?
It was regulated through a system of ‘mercantilism’, whereby colonies had been obliged to send most of their produce to Britain, to buy British manufactured goods and use British ships for their imports and exports
In the 19th century, how was the protectionist system dismantled?
It was dismantled under the influence of new theories of free trade in the book ‘the wealth of Nations’, where it was argued that wealth was indefinitely expandable and freedom from commercial restrictions was the only way to maximise prosperity
What is a protectionist?
Using tariffs - particularly duties on imported goods to regulate trade
How did the British government support free trade?
They were willing to resort to threats and coercion to achieve free trade agreements
What shows that other nations also supported free trade agreements and British trade dominance?
This support can be shown through china in the opium wars - the British navy was used to enforce British terms and economic dominance was therefore sustained by a limited application of force
How were ships and shipping developed?
- ‘Clippers’ (fast ships) were introduced which sailed all over the world and were suited to transport low volume, high profit goods such as tea, opium and spices
- British iron hulled ocean ships were made more efficient by the development of the compound steam engine in 1850s
- steamship companies reduced the travel time from Britain to west Africa to less than 3 weeks
- the opening of the Suez Canal 1869 and the development of the triple expansion steam engine in the 1870s stimulated the construction of steam carriers
How did railways benefit trade
- they opened up Canadian prairies
- they enabled Australia to export wheat and wool
- offered South Africa a chance to expand territory and commercial interests beyond its interior
- they linked cotton and jute growing areas of north India with the mills of Bombay and Calcutta and enabled rice to reach ports for export
How did canals and rivers develop from trade?
- focus of explorers quests to discover what lay behind the easily accessible coastal areas of Africa
- to facilitate trade, rivers sometimes had to be straightened, diverted and deepened
- they were used to avoid hazardous stretches of water or provide waterways where there were none
- in Canada 1867, canals were deepened around the St. Lawrence Great Lakes and the wellend canal was built to overcome height differences between Eyrie and Ontario
What is invisible trade?
The provision of services or investment overseas
What were the products of trade and commerce?
- agriculture
- mining
- Industry
What was the benefit of agriculture?
- in tropical colonies, such as South Africa, they produced goods that were not available in Britain e.g. sugar, cocoa
- in Canada, Australia and New Zealand, there were vast tracts of land permitting the production of cheap foodstuffs and raw materials such as wool
- plantations
What was the benefit of mining?
- precious metals were exploited and became an important trading commodity e.g. tin in Niger and diamonds in Sierra Leone helped develop their colonies
- in 1886, gold deposits were found on Witwatersrand which prompted a gold rush for the Dutch Boer republic in the Transvaal
- the Transvaal gold mines required skilled labourers and over 30000 travelled there from Britain. This influx of immigrants encouraged British ambitions in the area
- gold was discovered in New South Wales, Australia in 1851 and by 1866, Victoria was producing £124mn worth of gold
- New South Wales produced a further £25mn worth of gold
- there was a wave of discoveries in 1880s around Kalgoorlie and Western Australia
Why was there little industry development?
Many colonies had a small internal market and also could not compete in a world market with British manufacture e.g. Indian run mills couldn’t compete in price with imported British textiles which led to the destruction of the Indian textile industry
What were the negatives of ships and shipping development?
The ships had a short life expectancy and were usually broken after 20 years of use
What were the negative impacts of railway development?
Railways in colonies such as Canada, New Zealand and South Africa encroached upon indigenous lands, disrupted long standing ecologies and often led to the displacement and removal of the indigenous peoples