9.Trade And Commerce Flashcards
How was Britains trade amongst empire disproportionate
India represented a large market and took about 20% of Britain’s total exports worth almost 150 million.In return India exported goods such as raw cotton and tea.
What was South Africa and Australia’s main exports
Wool and sugar
What was New Zealand’s main export
Dairy produce and lamb
What was Canada’s main export
Beef and wheat
How was Britain’s economy changing in the 1890s
Instead of reliance on the empire.Britain’s trace was growing with the non imperial world.Particularly the USA
What was some evidence of Britains trade changing to grow with the non imperial world
In 1894 Britain imported 64 million hundredweight of wheat
30.7 million from the USA
17.2 million from Russia
Only 3.6 million from Canada
How was it shown that whilst the empire has expanded,there was no corresponding expansion of trade
In 1897 tropical Africa only took 1.2% of British exports
What did anti imperialists argue against empire in terms of trade and commerce
Anti imperialists argued that the empire cost middle class people more than it benefitted them.Due to only 1.2% of British exports going to tropical Africa.It was also argued that Britain had failed to modernise industry
How was it shown that Britain lagged behind in chemical and electrical engineering
While Britain was relying on rubber imports,the French Russians and Germans had successfully started their own synthetic rubber production by 1910
How were overseas investments from Britain not always in empire
Despite British investment doubling from 2m to 4m between 1900 and 1913,not all of this was with the empire.Far more British capital went into the USA and India.
What acts facilitated a number of infratsructure projects
Colonial loans and Colonial stocks acts of 1899 and 1900
How did Britain set the standard for the international monetary system
Forced other nations to adopt the gold standard.By 1908 only China,Persia and a handful of Central American countries still used a silver standard.This effectively made the gold standard the sterling standard
Who attended the London Colonial Conference
Leaders from Britain,Australia,Canada,New Zealand,Cape colony,Natal and Newfoundland
What did the London Colonial Conference discuss
It discussed creating closer economy ties in the form of an imperial customs union giving a boost to imperils trade through mutual customs agreements
Why did chamberlain believe imperial trade was useful
He believed it would be strategically reliable in times of emergency and believed the colonies and trade between them had space for more development.This is known as ‘imperial preference’
