Economy And Industry 1865 - 1873 Flashcards
What happened to the output of coal between 1865 and 1875?
98 million tonnes to 130 million tonnes.
Identify and explain 5 reasons for progress in industry and agriculture between 1865 and 1873.
- Britain was the first industrial nation and far outstripped other countries in establishing home markets.
- Britain controlled the vital sea routes.
- Britain had a plentiful supply of natural resources .
- Britain’s large population = large workforce and expanding home market.
- Railways made mobility of workforce and carriage of goods possible.
Why was the rise in coal output between 1865 and 1875 so significant?
Because as other countries expanded their industries they needed coal from Britain so exports increased = more income for Britain.
Why was the expansion of the railways important?
More jobs - railway employment was 6th largest in 1870.
What fraction of British good were exported to the British Empire? Why is this important?
1/3. Important because it shows what a vital role Britain played in the Empire and how powerful it was.
What was Britain justifiably called?
The workshop of the world.
What reasons were there for the golden age of agriculture?
- Harvests produced successive high yields.
- Prices were steady.
- Farmers’ incomes increased.
- Significant technological innovation.
Explain the benefits of high farming.
- Increase in productivity.
- Move from purely arable to mixed farming = so variety of production.
- Scientific knowledge = artificial fertilisers were marketed.
- Growth in animal foodstuffs market.
What factors contributed to a rise in living standards in Britain during the 1860s and early 1870s?
- Growth of industry and agriculture and the resulting buoyant economy.
- Public works and various municipal authority boards.
- The social benefits brought by the expansion of the railways - jobs, easier travel.
- Advances in medical knowledge.
What can be said about poverty in relation to the working classes by the 1870s?
Poverty still existed in the working classes, however:
- The real value of the average wage rose by 40% between 1862 and 1875
- Factories were producing cheaper goods.
- Trade unions won legal status.
- Factory Reform Movement had successfully campaigned for better conditions and limited hours.
What was Jeremy Bentham’s theory of utilitarianism that promoted laissezfaire?
Based on a view that minimal government interference in people’s lives would bring the greatest happiness to the greatest number.
What were Gladstone’s policies that seemed designed to help the working class but were in fact permissive and so could be seen as laissezfaire?
Trade Union Act followed immediately by the Criminal Law Amendment Act.
What was the logic of free trade?
The lower the duties paid by manufacturers, the more cheaply they could produce goods which could then be sold at a competitive price - at home and abroad.
What did the adoption of free trade lead to?
A massive increase in the volume of trade and a stimulus for further economic growth.
Explain the concept of self-help.
Individuals must take personal responsibility for their actions and be prepared to work hard to achieve their aims and not blame others when mishaps occur.
