2.9 Trade And Commerce Flashcards
What was the general assumption about the empire in 1890?
It made Britain wealthier and an expansion in empire would make Britain wealthier still
Did Britain have a disproportionate amount of trade and investment in its own colonies?
Yes
India took 20% of total exports (worth about £150 million)-in return
What were the main goods that India imported to Britain?
Raw cotton and tea
What were the main exports from Australia and South Africa?
Wool and sugar
What was the main imports from New Zealand?
Dairy produce and lamb
What was the main imports from Canada?
Beef(10% of empire imports)
Flour(15% of empire imports)
When was the imperial federation established and disbanded
Established 1883
Disbanded 1893
What was the initial idea of the imperial federation league when it was founded in 1884?
To promote closer colonial ties
What does the imperial federation league being disbanded imply?
Waning interest in the empire’s commercial importance
In 1913 what % of imports were form the empire
24.9% empire
75.1% outside
In 1913 what % of exports were form the empire
37.2% in empire
62.8% outside empire
In 1913 Britain were increasing trade outside the empire, especially…
The USA
British wheat imports from outside and inside empire in 1894?
64 million hundredweight of wheat
30.7 million form the USA
17.2 million from Russia
Only 3.6 million from Canada
In 1896 what was the total race of the empire worth and what was the trade within the empire worth?
Total trade:£745 million
Empire trade: £183 million
In 1897 the whole of tropical Africa only took______ of British exports over the ensuing years
1.2%(colonies increasingly brought more from foreign nations rants than Britain
What did anti imperialists argue about empire?
It costs them more than it benefited them
How much did Boer war 1899-1902 cost Britain
250 million
What did John A Hobson believe?
Mine owners has tricked British into fighting Boers to maintain their own profits
Foreign policy has been a struggle for profitable markets of investment
Ruling classes has ever-increasing incentive to employ public policy
Critic for empire only benefit was for capitalists
What were invisibles?
Any export that provides income but doesn’t have a physalis presence (e.g insrijace)
-with huge earning from invisibles Britain could import much more than it exported
Background to imperial preference?
System of mercantilism replaced by free trade
Free trade becomes successful approach for rest of 19th century
What were the changing circumstances in imperial preference?
Competition in Europe had been growing and other industrial and trading rivals were building up in the USA and Japan
Agricultural depression affected last 14%th of the 19th century and was a problem for British
Who was Joseph Chamberlain?
Colonial secretary 1895-1903
Raised the idea of trade protection again
Idea of imperial preference which meant British and empire would trade together freely but protect themselves from foreign competition
Idea discussed at 1902 colonial conference
What was the opposition to imperial preference?
Manufactures wanted to stop it because it might reduce their profits
Banks and investors who has business links to non-empire countries objected
Empire not completely self sufficient
1906 liberal landslide victory unionist gov defeated
What was the aftermath of imperial preference?
-dominions were disappointed
-looked for trade agreements with other countries instead
South Africa , New Zealand and Australia imposed their own import tariffs
Trade with empire increased after 1914
