Empire Topic 1 - Pax Britannica - Free Trade Flashcards
Industrial Revolution
One machine could now do job of 200, led to surplus goods that could be sold to Europe and further abroad.
Environment needed for free trade to flourish
- Population has to be franchised (gain political determination/power)
- The idea and concept of free trade had to be formalised
- Pax Brittanica, British being on top of the world order. Peace and the end of war with France led to more investment into trade abroad.
What were the navigation Acts?
- Ruled that if you created goods in the colonies they can only travel on British ships even if it’s more expensive.
- Acts also ruled that European imports to Empire had tio go through Britain
Primary Economic Theory in 16th-18th Century
Mercantilism
Mercantilist Theory
- Argued wealth was created when you exported a higher value of goods than you imported.
Wealth of Nations Author and Key Ideas
Adam Smith - argued import and export tariffs prevented merchants from finding best deals. Removing said barriers meant everybody would prosper.
The Irish Problem
- Parliament continued to be dominated by wealthy landowners. - Mercantilism is best suited for agriculturual economies and gives it a commercial advantage.
- Ireland’s economy was similar to England’s and MP’s used their power to limit Irish competition
Irish Economic Power
- Dublin 2nd Largest City in UK
- 1750 exports were £1.9m and imports were £1.5m
- 1800 exports were £4.9m and imports were £3.8m
- Irish economy was growing
What was the value of exports and imports in Ireland in 1750?
- Exports £1.9m
- Imports £1.5m
What was the value of exports and imports in Ireland in 1800?
- Exports £4.9m
- Imports £3.8m
Irish Disturbance
- Landowners in Ireland mainly Anglo-Protestant (the Wellesleys).
- Labourers were Irish-Catholic and were legally discriminated against.
- By late 1770s there were calls for no taxation without representation.
- With British troops in America, armed groups were formed to stop potential French invasion of Ireland
- Groups soon turned political, in 1778 Protestors labelled on a Cannon ‘Free Trade or this!’
Consultation of Smith
- 1779
- British consulted Smith about Irish problem
- Concluded that restrictions on Ireland made ‘to protect the very slender interest of our own manufacturers.’
What couldn’t Ireland export before Consultation of Smith?
- Glass
- Silk
- Raw woolen cloth
- Anywhere but few British ports
What did Consultation of Smith lead to?
All trade restrictions on Ireland removed 1779.
May-September 1798 Irish Rebellion
- 14000 French soldiers had tried to land in Ireland to assist Catholicts there 1796.
- During Rebellion, 3000 rebels were killed and 12000-13000 British soldiers were deployed
Corn Laws
- Tariffs and other trade restrictions on food and and grain enforced between 1815 and 1846.
- Designed to keep grain prices high in favour of domestic producers
- Imposed steep import duties, making it too expensive to import grain from abroad.
What did Corn Laws cause?
A famine as a volcanic eruption in Indonesia caused global drop in temperatures, and import wasn’t viable.
What Impact on Society resulted from the Corn Laws?
- Led to numerous Acts being passed
- Seditious Meetings Act 1795
- Treason Act 1795
- Suspension of Habeus Corpus 1794 and 1817
What did Seditious Meetings Act 1795 do?
Riot Act of 1714 declared meetings of 12 or more could be declared unlawful by local authorities and dispersed, Seditious Meetings increased this to 50 or more.
What was a Rotten Borough?
- Old Sarum in Hampshire was a consitutency - it had one MP and 43 people as the electorate
- But there was only a farmhouse, a few fields and hundreds of sheep.
- 43 voters did not live in Old Sarum but they registered their address there.
- In comparison, Manchester had 400,000 people and no MP
Franchise before Reform Act
- Wealthy landowners made up the 214,000 men who could vote in 1800, 3% of the population.
- Politics also favoured rural consitutencies
Reform Act
- 1832
- Abolished Rotten Boroughs
- Increased electorate from 400,000 to 650,000
- 45% increase
- Many of these were lower middle class traders and opposed to protectionist policies, the working class still had no say.
- 97% of people were being taxed with no representation
People’s Charter
- 1838
- Would give working men a say in law-making
- They would be able to vote
- Vote would be protected by secret ballot
- Would be able to stand for election in House of Commons
- Removal of Property Qualifications
- Introduction of Payment for MPs
What was impact of political movement towards free trade?
- In 1838, the Anti-Corn Law League formed
- Robert Peel, son of textile manufacturer and not aristocracy, was now PM
- Believed in free trade
- Founded Conservative Party in 1834
- Under Peel’s leadership form 1842-46, 1200 tariffs were removed
