Britain and the French Wars, the Economy (1793-1815) Flashcards
What had governments traditionally used to finance wars, and why was this not possible in the French Wars? What problem did this cause?
- Loans (from the City of London)
- This only worked in short conflicts, but the French Wars were much longer than expected
- It led to a growth in national debt
How much did the French Wars cost Britain?
- £1.6 billion
What were 3 sources of money, and 1 other method the government used to deal with the national debt?
- New taxes (21 of them)
- The introduction of income tax in 1799
- Government stocks
- They refused to admit changes such as a legal minimum wage
How successful were the government’s methods of raising extra money during the French Wars?
- Between 1793 and 1815, an extra £12 million was raised each year
What particular advantage did Britain have over France when it came to financing the war?
- The government had a close relationship with the bankers and merchants in London, which was an international centre for commerce
Give an example of how the close relationship the government had with international merchants benefitted the war effort.
- Nathan Rothschild, a German banker, organised the finance for Wellington’s advance through Spain and France in 1813
What did Britain’s financial advantage over France allow it to do? Give a figure.
- Fund coalitions
- During the course of the French Wars, nearly £66 million was paid in subsidies to these countries
What did Napoleon do to countries he defeated?
- They were forced to make treaties that tied them into French economic strategy; namely, the Continental System
When and why did Napoleon introduce the Continental System?
- 1807
- He hoped to choke Britain’s economy and force them to make peace
How successful was the Continental System? Give 3 details.
- Smugglers and neutral countries continued trading with Britain anyway
- British merchants found new markets in Northern Europe that compensated for the decrease in trade
- Countries such as Sweden and Russia broke the blockade and traded with Britain anyway (secretly or openly)
How was industry performing in Britain during the French Wars?
- Britain continued to industrialise at the same rate as it had during the Industrial Revolution (before the French Wars)
Give an example of an innovation that had a big impact on British industry. How did it affect production?
- Crompton’s spinning mule
- Cotton production tripled between 1793 and 1813
Did growth in industry always benefit the war effort?
- No, as textile mills were defying the law and selling to France (while also making uniforms for the British Army)
Give another statistic showing how improvements in industry were useful in the war.
- Iron manufacturing output increased by a factor of 4 from 1793 and 1813, and this was used to make cannons and other weapons
What had happened to agriculture in Britain before the French Wars?
- The agrarian revolution