How far Did Pitt create a national revival?

Question 1

Intro

Answer 1

Pitt’s contribution to Finance, admin and trade was the main reason for the success of the National Revival. Although he didn’t come up with many of the policies, he had the knowledge and initiative to execute them once failed and improved upon them.

Question 2

Finance

Answer 2

AT the time of Pitt’s finance and admin reforms- country economy was in economic dislocation. National Debt had risen 91% to just under 250 mill in 1783. His methods were based on efficiency and rationalisation, not radical new thinking.

• Pitts policies to reduce smuggling and therefore raise revenues showed leadership and decisiveness.- led to signif improvements in the economy.
• Computations Act of 1784- reduced import tax of tea from 119% to 25%- which reduced smuggling and increased legit trade which increased revenues.
• Sinking Fund- borrowed from Sire Robert Walpole- Money would be set aside from surplus revenue each year and accumulated and the interest that was to be paid of the debt was also collected.
  This led to debt reduction of 11 mill.

Question 3

Administration

Answer 3

Pitt also deserves cred for admin. His decisions were decisive and had signif impact.

• Centralising stationary office- tighten gov spending.
• Controlling gov spending
• Pitt able to adapt to old ideas e.g. 1787 Consolidated Funds Act previously brought in by North.- consolidated a number of existing accounts and oversee of the executives spending.
• Sinecures positions lapsed- saves money by having a smaller more powerful gov.

Question 4

Trade

Answer 4

Although not all Pitt- trade deals with both France and India helped improve Britain’s trade and create a national revival.

• Eden Treat 1786 sept- Lowered tariffs between Uk and France benefited Uk more and encouraged trade.
• Bonded Warehouses- Allowed storage without tax- Pitt not solely responsible- but affected national revival massively.

Question 5

Conclusion

Answer 5

Britain under Pitt achieved a national revival in Finance trade and admin.

Pitts measures = decisive, with passion- showing he deserves credit.

Despite having help from others e.g. Walpole- Sinking.

Pitts handling of situations+ adaptation- shows responsibility for improvements in economy.

Pitts mistakes- not exploring window tax- not to derail from his handling overall.