economy 1879-1914

Question 1

average annual industrial growth from 1870/80 to 1900/13

Answer 1

GB- 2.5 - 2.1%
Germany- 5.9 - 4.4%
USA- 5.7 - 5.4%

Question 2

Share of Global manufacturing output from 1880-1913

Answer 2

GB- 22.9% - 13.6%
Germany- 8.5% - 14.8%
USA- 14.7% - 32%

Question 3

statistic to show staple industries dominated British exports 1881-1890

Answer 3

41% share of textiles in GB exports. 11% iron+steel

Question 4

what did the Salisbury government do about the economy?

Answer 4

set up the Royal Commission in 1886 to inquire into the depression of industry and trade. its remit was to report on the ‘extent, nature, and probable cause’ of the depression. they noted challenges to British dominance of international trade. (Industrial competition from GB and Germany)

Question 5

what did many contemporaries consider the 1873-1914 era of the economy

Answer 5

a depression initiated by the banking crash in New York and Austria

Question 6

How do historians differ in their account of the economic history of 1870-1914 and from
British observers of the time?

Answer 6

Many contemporaries of the time argued that the difficulties experienced by the British
economy was caused by the Great Depression when, in fact, it was, as historians today
argue, caused by changes in the world economy and by problems in the domestic
economy.

Question 7

Identify two reasons, apart from the Great Depression, that explain the economic problems
and anxiety experienced by the British economy in the years 1870 to 1914.

Answer 7

Changes in the world economy and problems in the domestic economy.