Britain 10- Economic issues Flashcards
During the general strike 1926 which industries ceased production?
Coal, iron, steel, chemical and newspaper
What services stopped during 1926 general strike?
Railway trains, London Underground, many bus services and loading/unloading of boats
What were some positive developments in the economy in the 1920s?
‘New’ industries were growing at a fast pace. Motor car production in 1920 was 3 times what it was in 1913, setting up of central electricity generating board in 1926, between 1923 and 1929 overall economic growth faster than before 1914
What were the ‘new’ industries?
Chemicals, motors vehicles, electrical hood and canned foods
How did Labour attempt to decrease unemployment 1923-4
launched a public works programme, aiming to create jobs by public spending on roads, council houses, etc
what is protectionism?
policy of protecting domestic industries against foreign competition through tariffs, import quotas and subsidies, or other restrictions placed on the imports of foreign competitors.
who did Baldwin’s govt break off relations with in 1924 that had a substantial impact on the economy?
Soviet Russia, stopping the revival of Anglo-Russian trade
what did Britain return to in 1925 in hopes of returning to pre-war economy?
gold standard
compared to pre-war where Britain dominated the economy, who dominated post war?
the dollar was the dominant currency and New York the centre of international banking
what year did Britain return to the Gold Standard?
1925
what did the pound increase in value from and to during the return of the gold standard 1925?
$3.46 to $4.86
what issues did the increased value of the pound cause during the reintroduction of the gold standard?
British exports were uncompetitive in staple industries such as coal which cause more unemployment in these industries
what were the problems of the coal mining industry during the 1920s?
poor conditions and low pay
very dangerous: 1922-24 3603 miners killed and 597,158 injured
industry in decline which was made worse by economic impacts of war
what were the events of the 1926 general strike?
1) mine owners demand wage cuts and longer hours
2) miners call for support of railway men and dockers (threat of a general strike)
3) govt offers to subsidise miners’ wages
4) samuel commission set up
5)negotiations between unions and mine owners
6) mine owners final terms rejected by miners
7) owners declare a lock-out of the miners
8)govt proclaims state of emergency
9) last minute talks between TUC and Baldwin’s cabinet and unofficial strike by Daily Mail workers
10)General strike begins
11) end of general strike after TUC calls off support for the miners
how much loss occurred in the first 6 months of 1925 due to the introduction of the gold standard and what did this lead to mine owners calling for?
loss of £2.1 million so mine owners called for further wage cuts and longer working hours
what was the Samuel Commission?
set up to investigate and report on the problems of the coal industry
why was the Samuel commission a failure?
rejected nationalism, argued that wage cuts were essential to save jobs. each side accepted the parts of the report they liked and rejected the rest.
what slogan did the miners adopt?
‘Not a penny off the pay, not a second off the day’
why did Baldwin fail to prevent the strike?
he could have exerted more pressure on the owners to reach a compromise or shown greater willingness to talk with the TUC. instead he gave the impression that the govt wanted a fight with the unions by invoking the 1920 Emergency powers act to declare a state of emergency on 1 May
how did Baldwin continue to move essential supplies to supplement the armed forces during the general strike 1926/
set up the organisation for the Maintenance of supplies, which organised 100,000 volunteer workers
how did Baldwin win public sympathy?
through speeches and newspaper articles Baldwin argues that the General strike was a threat to British constitution turning the issue away from the miners’ grievances and to the question of who ruled the country: the elected govt or the TUC
what did the 1927 trade disputes act do, passed after the general strike?
made sympathetic strikes illegal and required trade unions to give their individual authorisation to paying their political levy to the labour party
