Depth 1: The French Wars (Economy) Flashcards
How much did the French Wars cost Britain?
£1,600 million.
When was the Continental System imposed and what did it do?
Imposed in 1807.
Prevented France and beaten countries from trading with the British. It failed because most beaten countries accepted British goods through neutral merchants and smugglers, and it hurt France because they relied on British goods. Britain made up for lost income by exporting globally.
How did people with lower income suffer because of the French Wars?
Real wages stagnated.
Food prices rose (especially bread.)
A sixth of the male workforce were in the army, so some families struggled without a breadwinner.
What was the Speenhamland System?
A system named after a parish church, which linked the size of families to the price of bread to determined relief.
How did Britain manage the cost of war from an economic standpoint?
Nathan Rothschild helped to fund the national debt by securing loans.
Britain refused to recognise a legal minimum wage and borrowed massively.
Raised taxes and introduced income tax for people earning over £60 in 1799.
Government offered government stocks, which were more secure in wartime.
London Stock Exchange opened in 1802.
What did the Corn Laws of 1815 do?
They were regulations that protected domestic wheat growers from cheap imports.
What did the Parliamentary Enclosure Acts do?
They allowed small farms to be absorbed by larger landowners. Landowners claimed that this made farming more effective as it would reduce the amount of labour needed with men away at war.
How did the textile industry benefit from the French Wars?
Machines were developed, like Compton’s spinning mule and powered looms for weaving cloth.
The cotton trade stayed strong.
Textile mills sold to both the French and British Army.
How did iron-making benefit from the French Wars?
Cyfartha Ironworks made only 500 tonnes of iron in 1787; by 1812 it was producing 10,000 tons a year.
High demand for cannons and other weaponry.
How did infrastructure benefit from the French Wars?
Canal building, i.e. the Royal Military Canal (1805-10), helped create a more extensive canal system by 1815.
Road transport improved by better roads.
Steam engine development continued. A steam locomotive was demonstrated in 1804.
What were some examples of GOVERNMENT construction projects during the French Wars?
Martello Towers: coastal forts built to defend against the threat of French naval invasion.
Chappé Telegraph: Used mechanical arms and shutters to transmit messages.
What was ‘Luddism’?
Machine-breaking. It occurred as a reaction to change due to the Industrial Revolution. Many skilled workers thought they would become obsolete to machines. The government violently cracked down on Luddites, suspending the habeas corpus.
