1.1 - changing nature + extent of trade Flashcards
how important was gov policy in shaping changes to patters of trade in the years 1763-1914?
what was gov economic policy like in the early 18th century + what effects did this have?
protectionist + mercantilist
- stifled trade + alienated colonies
- direct cause of AWOI + pushed Ireland towards rebellion
when was the Scramble for Africa?
1881-1914
what trade did Britain dominate in the mid-18th century?
the slave trade
(by 1790s around 120-130 space ships sailed from Liverpool as part of the triangular trade)
how were the gentry benefitting from the slave trade?
many lodged money with the English bankers who gave money to slave traders, the gentry were indirectly benefitting from the slave trade
which group of people organised the first abolitionist movement + when did they petition in parliament?
Quakers
1783
who launched a parliamentary campaign against abolition in 1789?
Wilberforce
why did parliament repeatedly vote against Wilberforce’s bills?
the British-french rivalry was still important - France wanted abolition so Britian were forced to want retention
what Act ended Britain’s role in the slave trade?
Slave Trade Act 1807
what book did Smith publish in 1776?
Wealth of Nations
what did Smith talk about in his 1776 book?
- he attacked mercantilism, arguing tariffs prevented effective trade
- argued removing barriers would increase overall wealth, proposing both parties in a trade benefitted from free-trade
why was the adoption of free trade a slow process in Britain?
- many tariffs in place were designed to give British goods a commercial advantage
- vested interest - parliament dominated by wealthy who often supported these measures to keep their incomes
what did Irish protestors in Dublin do in 1778?
protested with a cannon, hung a sign saying ‘free trade or this!’
what did Smith suggest when the gov consulted him in 1778?
he called the restrictions on Irish trade ‘unjust’ + ‘oppressive’, recommending Ireland should have free-trade
when did the gov remove restrictions on Ireland?
1779
when were the Corn Laws passed?
1815