Economic developments 1851-86

Question 1

what challenges did agriculture face?

Answer 1

• a repeal of the corn laws (had protected British farmers against cheap imported corn)
• faced foreign comp as entered period of free trade

Question 2

how did high farming methods 1853-73 bring real benefits?

Answer 2

• mixed farming meant that they could spread their risk on crop prices
• improved ploughs + hoes, horse drawn reaper
• animal husbandry, saw improvements to pedigree breeds eg Aberdeen Angus cattle
• scientific farming
• development of railways

Question 3

how was international trade being transformed?

Answer 3

the development of the steamship + the railway

Britain had industrialised first giving it an advantage

Question 4

what was one of the biggest growth areas for Britain?

Answer 4

invisible trade eg finance, banking, insurance

Question 5

where was almost all shipping insured?

Answer 5

in the city of London

Question 6

between 1851 - 68 what % did British trade make up?

Answer 6

25%

Question 7

how did railways contribute to Britians growth?

Answer 7

• tracks increased from 9500km in 1850 to 22000km in 1875
• created jobs + growth in industries eg iron + steel, coal, agriculture + manufacturing
• railroad machinery exports from 8600 tons in 1850 to 44 100 tons in 1870
• benefitted from own railway expansion but also growth of railways in other countries

Question 8

how did Britain benefit from shipbuilding?

Answer 8

• created lots of jobs in areas eg Glasgow, Belfast + Liverpool
• when the Suez Canal opened in 1869, British steamships were only narrow enough to fit through
• London alone saw opening of 5 new docks
• Britain led the way with naval technology

Question 9

how did the American Civil war lead to ‘cotton faminie’

Answer 9

the union blockaded southern ports to cut off confederate exports

Question 10

where was the cotton industry based?

Answer 10

Lancashire, one of the important in Br

Question 11

why was coal vital in the industrial revolution?

Answer 11

• powered trains + steamships, iron + steal production and the cotton industry
• growing pop. needed more for heating homes + cooking food

Question 12

what accounted for nearly half of Europes total production of steel?

Answer 12

steel produced in Sheffield which was 90% of British output

Question 13

why did steel demand increase?

Answer 13

railway companies switched to using it for rails + shipping companies started to use it for metal plating their ships

Question 14

economic policy under Gladstone + peel?

Answer 14

free trade, reduction of income tax and combining small finance bills into a single budget

Question 15

economic policy under Gladstone + Disraeli?

Answer 15

public heath acts, factory acts, labour relations + trade union legislation

Question 16

economic policy during the Great Depression?

Answer 16

agriculture + industrial slump, limited govt action, splits in the liberal party over social reform

Question 17

how much did coal increase from 1856-70?

Answer 17

65 mill tons -> 110 milll tons

Question 18

how much steel increase from 1850-75?

Answer 18

60,000 tons -> 2 mill tons

Question 19

what % of world trade did Britain have in 1850 + 1875

Answer 19

20%

25%

Question 20

what no. did agricultural labours fall by?

Answer 20

half a million between 1851-71, while employment in all key industries increased significantly

Question 21

what aided the growth in demand?

Answer 21

Br population grew by almost 6 mill

Question 22

what helped feed the boom?

Answer 22

br pursuing free trade + laissez faire economics

Question 23

what two countries made Britain struggle to compete?

Answer 23

Germany + USA

Question 24

why did Germany + USA grow more rapidly?

Answer 24

• larger populations + greater resources
• outperformed br in areas eg education (male illiteracy rate in Br 11% G 2%)
• br industries typically small compared to G + US so lacked capital to invest in new machinery

Question 25

causes of the depression?

Answer 25

• increased comp.
• failed to match educational advances particular in science + engineering
• introduction of protective tariffs across Europe + US
• failure of Br industry to keep up with advances in technology + continue with old machinery

Question 26

what was Britain described as in 1851?

Answer 26

‘workshop of the world’ -> many nations relied on Br for the majority of their industrial impairs

Question 27

what is protectionism

Answer 27

taxes on imports + bans of the import of certain commodities + restrictions on trade + goods not transported in British ships

Question 28

what is free trade

Answer 28

no taxes on imports

Question 29

what PM moved to free trade after 1841?

Answer 29

Peele

Question 30

in Gladstone’s first budget what did he do? 1853

Answer 30

abolished or reduced 200 import duties eg excise + stamp duty were reduced
he also promised a staged reduction of income tax over 7 years

Question 31

what happened in Gladstone’s 1860s budget?

Answer 31

he lowered wine, brandy and silk duties

Question 32

what happened in Gladstone’s 1861 budget?

Answer 32

abolished duties on sugar, tea + controversially paper. it was controversial as this would increase production of newspapers thus more available to working class, more educated, more reforms will be demanded

Question 33

what was the Cobden treaty 1860?

Answer 33

commercial treaty signed by Br + Fr
it substantially reduced the duties which Br manufacturers , coal owners + iron owners had to any when importing to Fr. in return, France was able to export wine, cognac + silk to Br at very reduced rates

Question 34

why was the Cobden treaty important?

Answer 34

big boost to Br economy as we could export more, enabled more jobs, less people unemployed