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British Empire - 2. Imperial Consolidation and Liberal Rule 1890-1914 > 12. Trade and Commerce > Flashcards

12. Trade and Commerce Flashcards

1
Q

What beliefs dominated 18th century Empire?

A

Mercantilism and protectionism

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2
Q

Mercantilism and protectionism

A

Belief in a controlled and regulated system of trade, monopolised by one superior country

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3
Q

Where are colonies expected to send all of their produce under mercantilism and protectionism?

A

To Britain

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4
Q

What belief about imperialism dominated 19th century Empire?

A

Free trade

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5
Q

Why did free trade develop in the 19th century?

A

Due to ‘Wealth of Nations’ by Adam Smith

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6
Q

What grew significantly under free trade?

A

Imperial investment and trade

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7
Q

What did London become due to free trade?

A

The financial capital

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8
Q

What did trade and commerce provide the British the means to expand?

A

The means to expand spheres of British influence

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9
Q

General opinion of Empire in 1890

A

It made Britain wealthy

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10
Q

What was believe that a would a bigger Empire bring about?

A

More wealth

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11
Q

What percentage of Britain’s total exports did India make up in 1914?

A

20% (worth around £150 million)

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12
Q

What was Empire’s total trade worth in 1896?

A

£745 million

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13
Q

Where did 10% of Britain’s beef and 15% of Britain’s wheat come from by 1914?

A

Canada

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14
Q

Where did Britain get its wool and sugar from?

A

South Africa and Australia

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15
Q

When was the Imperial Federation League established?

A

1884

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16
Q

When was the Imperial Federation League disbanded and what did this reflect?

A

1893 which reflected lack of interest in Empire’s commercial importance

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17
Q

Why was trade within Empire static after 1890?

A

Because Britain’s trade was growing with non-imperial world (E.g USA)

18
Q

What did anti-imperialists believe about the cost of Empire for m/c people?

A

It cost them more than it benefitted them

19
Q

How much of the £745 million of Empire’s total trade was within countries of Empire?

A

£183 million

20
Q

What was Empire blamed for failing to do? (Two things)

A

Failing to modernise industry
Failing to improve living standards

21
Q

Example of how Empire had failed to modernise industry

A

Britain was too reliant on Africa and Asia for rubber imports whilst Germany, Russia and France had developed synthetic rubber production

22
Q

What did critics of Empire believe about colonial food imports?

A

They believes colonial food imports undermined British food production

23
Q

What was decreasing wages in Britain?

A

Cheap foreign labour in colonies

24
Q

What happened to British investment between 1900 and 1913?

A

It doubled from £2 billion to £4 billion

25
Q

Between 1900 and 1913, where did the majority of British investment go?

A

USA and India

26
Q

Loans to where provided bigger returns for British investors?

A

Loans to foreign nations (not in Empire)

27
Q

Disadvantages of loans within Empire

A

Loans within Empire might be used to develop rival manufacturers to Britain

28
Q

How was the informal Empire maintained?

A

Through significant capital investments and commercial treaties

29
Q

Why could Britain afford to import more than it exported?

A

Due to huge earnings from overseas investments

30
Q

Chamberlain’s views on imperialism

A

Pro-imperialist

31
Q

What conference did Chamberlain set up in 1902?

A

The London Colonial Conference

32
Q

What did Chamberlain’s London Colonial Conference discuss?

A

It discussed creating closer economic ties in the form of an imperial customs union

33
Q

Why did Chamberlain believe imperial trade was preferable to free trade?

A

Because it was strategically reliable in times of emergency

34
Q

What industries resisted Chamberlain’s pro-imperialist ideas?

A

Manufacturing, shipping and banking industries

35
Q

Why did particular industries resist Chamberlain’s pro-imperialist ideas?

A

Because they had interest in free trade and a wider international community

36
Q

What did opposers for Chanberlain argue about the old economic meaning of Empire and Britain’s wealth?

A

Old economic meaning of Empire had disappeared and Britain’s wealth had come from free trade

37
Q

What did opposers to Chamberlain believe that Empire was not?

A

It was not an economic unitary and far from self-sufficient

38
Q

Results of 1906 General election

A

Public rejected Chamberlain’s proposals
Liberal Party received majority

39
Q

What was the Liberal Party committed to?

A

Free trade

40
Q

What did Australia, New Zealand and South Africa do before WW1 to assert national interests over loyalties to Britain?

A

They imposed import tariffs (taxes)

41
Q

What happened in India during the self-sufficiency movement?

A

British goods were boycotted and burned in streets

British Empire - 2. Imperial Consolidation and Liberal Rule 1890-1914 (14 decks)

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