changing patterns of trade Flashcards
what were the navigation acts the base of?
what could this be seen to be preventing?
britain’s mercantilist relationship with its colonies, which prioritised british interests.
the development of sophisticated colonial economies.
When did peel abolish all but 2 protectionist laws
which were the two he didn’t abolish
1842
sugar duties and corn laws
when were these abolished, and under which act?
1846, under the Importation Act
what did the abolition of the sugar duties lead to?
economic decline in the west indies.
what was the impact of the abolition of the corn laws on the irish?
1m irish died between 1845 and 52, another 1m forced to emigrate
abolishing the acts showed britain was prioritising ____ _____ over _______.
who thought defence should come before needs of merchants?
free trade over defence.
Adam Smith.
what dominated govt thinking by 1849
Free trade.
what did the 1834 poor law do
Made conditions so unbearable for the unemployed that ppl were driven to either seek work or emigrate.
when was the slump which led to a revival in demand for free trade?
Early 1840s.
what happened to the west indies’ economy
what 2 things did they have to do?
collapsed.
emancipate slaves and compete in free sugar market.
By 1849, what fraction of the world’s trade was carried in british ships>
1/3
1815-60: Britain was responsible for __% of world’s trade, and produced 50% of world’s trade in ____, _____, and ______.
60%
coal, iron, and cotton.
1867: what was cotton worth?
coal?
what was worth £2m?
£56m.
£5m.
Steam engines.
income from what had reached £50m by the 1870s?
Overseas dividends.
what was britain nicknamed as between 1815 and 70?
workshop of the world.
