Decline in British economy 1886-1914 Flashcards
What countries was Britain in relative decline to
USA and Germany
How was the economic growth in the US compared to Britain
It was growing twice as fast
What type of firms did the US have
Large firms
What percentage of British coal was cut mechanically in 1913
8%
What percentage of coal was cut mechanically in the US in 1913
25%
What did Chamberlain propose in 1903
Tariff reform
what did the proposal of free trade display about Britain
It was struggling to compete
Why hadn’t free trade been replaced
There had been a consensus on it up until this point
What was Britain not doing to its industry
Making technological advancements
What type of Iron did Britain produce
Pig Iron
What did the import of cheap cereals lead to
Workers being laid off
What happened to wages of agricultural workers
They stagnated
How much did the amount of land used to farm cereals drop by between 1872 - 1913
9.6 million in 1872 to 6,5 million in 1913
What happened to trade during this period
It increased
How much did Brian invest abroad compared to Germany, France, Holland, Belgium and USA combined
£4000 million compared to £5,500 million
How much did British shipping generate between 1911-13
£100 million per year
Where did British banking reach
Hong Kong and South America
How much more was being invested abroad than at home between 1911-13
Twice as much
How much did coal production increase between 1900 and 1913
64 million tonnes
How much did the British GDP rise each year between 1900-1913
1.7%
How much did agricultural output increase by between 1900-1914
5%
What type of farming did farmers go to
Livestock farming
What new industries emerged
Electricity
How much did staple industries contribute to Britain’s output
50%
How much did Britain’s proaction of the world’s manufactured goods fall by in 1913
33% to 14%
