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British History HLS > ADV INFO Economic Development 1851-1886 > Flashcards

ADV INFO Economic Development 1851-1886 Flashcards

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1
Q

how did E.j Hobsbawm describe Britain as being

A

a place where plants grow and animals feed

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2
Q

how was land distributed throughout society

A

4000 landlords owned about 60% of the cultivated land, and they let it to 250,000 farmers who employed about 1,250,000 people

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3
Q

what was repealed in 1846

A

the corn laws

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4
Q

what had the corn laws done

A

protected British farmers against cheap imported corn

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5
Q

what year was the turning point of agriculture in Britain

A

1853

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6
Q

what has the period after 1853 been described as being

A

a 20 year golden age of agriculture

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7
Q

what methods were used between 1853 and 1873

A

high farming methods

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8
Q

what is mixed farming

A

growing crops and keeping animals so that farmers spread risk on crop prices

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9
Q

what new chemicals were used in farming

A

artificial fertilisers

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10
Q

what artificial fertilisers were used?

A

nitrate of soda, superphosphates, imports of Peruvian guano (bird droppings) and German potash

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11
Q

what new technological developments were made in farming

A

more spectacular and advanced machines, such as steam ploughs, were not widely used, but improved ploughs and hoes and the widespread use of the horse-drawn reaper.

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12
Q

what was animal husbandry

A

improvements to pedigree breeds such as Hereford and Aberdeen Angus Cattle

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13
Q

who encouraged scientific farming

A

the royal agricultural society of England

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14
Q

what travel network developed

A

railways were important for many farmers who were distant from towns and cities

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15
Q

what happened with the weather during the period

A

between 1850 and 1873 there were many summers leading to good harvests.

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16
Q

what happened in 1873 to agriculture

A

a depression struck that would last for a very long

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17
Q

what demonstrated Britain’s wealth

A

the Great Exhibition

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18
Q

where was the great exhibition hosted

A

Crystal Palace

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19
Q

what did the Great Exhibition display

A

all the triumphs of British manufacturing, including cutting edge steam machines (railway locomotives, steam ploughs, steamships); Lancashire cotton, Nottingham lace; and various inventions and oddities, such as an unsinkable deckchair.

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20
Q

what were the statistics about the exhibition

A

it was open for five months and received over six million visitors, many from abroad

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21
Q

how much money did the exhibition make

A

it made a profit of £186,500

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22
Q

what was transforming international trade

A

the development of the steamship and the railway

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23
Q

what period did Britain dominate international trade

A

between the repeal of the corn laws in 1846 and the onset of the depression in 1873

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24
Q

which of Britains’ competitors were behind them

A

Germany and the USA

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25
Q

What was the issue with Germany

A

it was not completely united until 1871 and so did not fully become the power it would be until after this point

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26
Q

what was the issue with the USA

A

it was consumed by the civil war that raged from 1861 until 1865.

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27
Q

what was an essential market for Britain

A

India, for cotton and other exports

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28
Q

what was invisible trade

A

services such as finance, banking, insurance and shipping

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29
Q

what was the value of international trade in the period?

A

1800 - £300 million
1830 - £400 million
1870 - £2000 million

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30
Q

what was the value of British investment abroad?

A

1840 - £160 million
1850 - £250 million
1873 - £1000 million

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31
Q

what was the issue with Britain using developing markets

A

these countries would go on to become rivals for British industry or, in the long term, not require British imports

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32
Q

during the period between 1851 and 1868 what per cent of British trade made up world trade

A

25%

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33
Q

what happened to the number of railways during the period

A

they rose from 9,500 km in 1850 to 22,000 km in 1875

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34
Q

what industries did railways bolster

A

iron and steel, coal, agriculture and manufacturing

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35
Q

what happened to the export of railway iron and steel

A

it rose from 2,846,000 tons in 1850-1854 to 4,040,000 in 1870-1875

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36
Q

what were the statistics on British ships

A

by 1890, Britain had more registered shipping tonnage than the rest of the world put together

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37
Q

which businesses benefitted from shipping insurance

A

Lloyds of London

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38
Q

what had been laid in 1866

A

the Atlantic cable between Britain and the USA

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39
Q

where did the shipbuilding boom

A

areas like Glasgow, Belfast, Tyneside and Liverpool

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40
Q

what was opened in 1869

A

the Suez canal

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41
Q

how did Britain benefit from the Suez canal

A

only British steamships were narrow enough to pass through

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42
Q

what happened to London to facilitate advancing world trade

A

London alone saw the opening of five new docks, including the Royal Victoria and Royal Alberts docks, between 1852 and 1886.

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43
Q

what was invented in 1884

A

the steam turbine

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44
Q

who invented the steam turbine

A

Sir Charles Parsons

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45
Q

what happened to the production of cotton textiles

A

it almost doubled between the 1850s and the 1870s

46
Q

what did the American civil war lead to in terms of cotton

A

a significant drop in the imports of US cotton

47
Q

what did the reduction of American cotton lead to

A

a cotton famine in Lancashire

48
Q

what did the cotton famine cause

A

reduced production and the loss of many jobs

49
Q

what happened to coal production during the period

A

it grew from 60 million tons in 1855 to 109 million tons in 1870

50
Q

where did new coalfields open

A

South Wales

51
Q

What was the difference between coal production in Germany and the USA compared to Britain

A

in Germany and the USA, their mining industry was mechanised whilst in Britain, most of the coal was still extracted by hand

52
Q

what was the issue with coal mines

A

they were run by private businesses which were reluctant to invest large amounts of money in mechanised equipment

53
Q

how many men were employed in the mines

A

500,000

54
Q

what happened to iron and steel production

A

it went from 2.9 million tons in 1855 to 5.9 million tons in 1875

55
Q

which city produced a lot of British steel

A

Sheffield

56
Q

what per cent of steel was made in Sheffield

A

90% of British steel and nearly half of Europe’s total production

57
Q

what did George Parry do in 1850

A

he improved the hot blast furnaces by recycling some of the heat, making ironworks more profitable

58
Q

What did Henry Bessemer create

A

the converter system, patented in 1856, meant that steel could be produced n large amounts (3 tons per hour) far cheaper than the existing crucible system

59
Q

what did William Siemens create and when

A

the open-hearth process in 1867

60
Q

what was built using steel

A

the forth bridge between 1882 and 1889

61
Q

which town was turned into a boomtown by the steel industry

A

Middlesborough

62
Q

how did steel hold back the British economy

A

the USA and Germany had large deposits of phosphorus iron ore which they could now turn into steel, so Britain’s key competitors benefited from a British innovation

63
Q

what ideology did Britain follow economically after 1846

A

towards free trade

64
Q

who can free trade be traced back to

A

adam smith

65
Q

what book did adam smith write

A

Wealth of Nations

66
Q

What did Adam Smith argue

A

that a system of a freely operating market was the ideal economic model, as these markets would ensure competition that would drive down prices and benefit the consumer

67
Q

what did Adam smith say about government intervention

A

that markets should be free from government intervention at both a national and international level

68
Q

what policies were used during Gladstone and Peel

A

free trade, reduction of income tax, combining small finance bills into a single budget

69
Q

what policies were used during Gladstone and Disraeli

A

public health acts, factory acts, labour relations and trade union legislation

70
Q

what policies were used during the great depression

A

agriculture and industrial slump, limited government action, splits in the liberal party over social reform

71
Q

what happened to coal production

A

1856 - 65 million tons

1870 - 110 million tons

72
Q

what happened to iron production

A

1850 - 2 million tons

1875 - 6 million tons

73
Q

what happened to steel production

A

1850 - 60,000 tons

1875 - 2 million tons

74
Q

what happened to production in significant manufacturing areas

A

coal, iron, steel, railways, shipping, cotton grew and industrial growth ran at about 3.5% a year

75
Q

What meant that Britain could meet growing demand

A

it had good deposits of the vital raw materials for its industries

76
Q

what happened to Britain’s share of world trade

A

it went from 20% in 1850 to 25% in 1875

77
Q

why did standards of living increase

A

unemployment fell and wages increased more quickly than prices

78
Q

how did the rise in standards of the living show themselves

A

they consumed more and further fuelled the boom

79
Q

what happened to the number of agricultural labourers

A

it fell by almost half a million between 1851 and 1871

80
Q

what happened to the British population

A

it grew by almost 6 million in 20 years, aiding the growth in demand

81
Q

how was Britain in a better place than France, Germany and the USA

A

it had been so far relatively untouched by war

82
Q

what policies did the government pursue

A

free trade and laissez-faire economics

83
Q

what acts helped economic growth

A

the limited liabilities acts of 1855 and 1862 encouraged the buying of shares in firms at the level of risk that was limited to the value of the investment

84
Q

what evidence counters the idea that Britain was the workshop of the world

A

Britain was importing goods of a higher total value than it was exporting during this period

85
Q

what happened to net imports during the period

A

£87.7 million in 1846-50 to £302 million in 1871-75

86
Q

what happened to exports of UK products

A

it went from £60.9 million in 1846-50 to £239.5 million in 1871-75

87
Q

what happened to the balance of commodity trade

A

it went from -£26.8 million to -£62.5 million

88
Q

how did Germany and the USA benefit compare to Britain

A

they had large populations and greater resources of raw materials

89
Q

where did Germany and the USA outperform Britain

A

education (male illiteracy was 17% in Britain in 1875, compared with 2% in Germany) and the training of engineers and scientists

90
Q

what new production methods were emerging in the US

A

mass production and the modern assembly line

91
Q

what goods were being mass-produced

A

guns, clocks and sewing machines

92
Q

what was Britain’s disadvantage of being the first to industrialize

A

the industries in Germany and the USA were being started up with the latest technology and were quick to adopt new techniques (mining and the early use of electricity as a power source)

93
Q

what did the Historian S.B Saul argue in his 1985 book The Myth of the Great Depression

A

there was no depression in the British economy, but rather an overall average fall in business profits, which caused many at the time to see the economy in a pessimistic light

94
Q

why can falling prices actually show that there was not a depression

A

they were part of a long term trend due to advances in industry reduction in the cost of production and the failure of the government to alter the money supply in line with increasing trade

95
Q

what happened to unemployment in certain years during the supposed depression

A

there were some years in the period (1875-95) when unemployment of trade union members was 2%, compared with the 4.6% average in the boom years

96
Q

What happened to production during the “depression”

A

the production of coal, iron, steel and cotton all increased during this period

97
Q

what happened to the economy during the depression

A

it continued to grow, albeit a little more than 1% a year

98
Q

How did the expansion in the European and US markets benefit Britain

A

it was able to expand to new markets in the developing world

99
Q

What did Britain fail to do

A

invest in new machinery and premises due to complacency and mismanagement by British businessmen, not a depression

100
Q

what did the historians Hobsbawm and Wiener say

A

they blamed the class structure in Britain, saying that businessmen were trying to emulate the aristocracy rather than developing their businesses

101
Q

what positives emerged during the period

A

the bicycle and telephone industries, as well as retail

102
Q

what happened to real wages during the period

A

the cost of living fell as prices fell, so real wages increased

103
Q

what happened to profits during the period

A

they fell, largely due to falling prices

104
Q

how did companies cut costs

A

they lay off workers

105
Q

what happened to unemployment during the period

A

the average rate among trade union members fluctuated, but gradually increased, during this period

106
Q

what happened to Britain’s percentage share in world production of steel, iron and coal

A

it fell

107
Q

how did Germany and USA’s economies compare to Britain’s

A

Germany’s grew 3 times faster and the USA’s 4 times faster

108
Q

What did Britain fail to do

A

adopt new industries, such as electrical engineering, chemicals and dyestuffs and production of new machines, such as typewriters and sewing machines

109
Q

What did European countries and the USA do to Britain

A

they protected their industries against British goods using protective tariffs, while Britain maintained free trade

110
Q

what did the fall in profits lead to

A

British firms did not have the money to invest in new premises and machinery

111
Q

What caused the depression

A
  • increased foreign competition
  • failing educational advances
  • introduction of tariffs against Britain
  • failure of British industry to keep up with advances in technology
  • firms were small compared to those in Germany and the USA

British History HLS (38 decks)

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