Napoleonic Wars impact on economy Flashcards
why was the British economy protected during the wars?
the RN was key in protecting the merchant navy which allowed global trade to continue
Britain’s financial strength also proved influential
how did the British fight an ‘economic’ battle with the French?
blockaded French ports for the entirety of the war
boarded neutral ships which may have been trading with the French
CUT OFF TRADE WITH THE FRENCH
when was the Continental System introduced?
1807
was the Continental System a failure?
YES
smugglers and neutral merchants continued to trade with Britain
French markets extremely suffered as they themselves relied heavily on British imports
where did Britain open an export market in response to the Continental System?
Northern Europe
when did Russia restart trade with the British?
from 1810
went against the Continental System (massive failure)
when did Franc restart trade with Britain?
1813
what were major British exports?
textiles from British mills
re-exports from British colonies in the Caribbean and India:
- tea
- coffee
- sugar
- cotton
successes in Britain’s dealing with trade
carried on as usual
French wars had little impact
most countries could not survive without British imports
RN (convoy system) was too powerful and ensured that the seas were safe and secure for British merchants
British export markets flourished with an expanding empire
failures in Britain’s dealing with trade
Britain’s response to the Continental System did lead to the War of 1812 with America
put further strain on the British economy
where was Britain able to set up NEW export markets during the wars?
Spain
Portugal
Latin America
how much of the workforce in Britain were fighting in the war?
1/6
how did the British worker suffer during the war?
wages stagnated during the war
rising food prices majorly hurt the poorer population
men (the breadwinners) were not home so families struggled to survive
what was the Speenhamland System?
system which determined relief dependent on the size of your family
larger family = more bread
how much did the Napoleonic Wars cost Britain?
£1.6 billion
what were the main costs of the war?
funding the RN and BA to fight the French
subsidising Britain’s allies to keep them fighting the French
how did Britain get the money to fund to war?
BORROWING
largely reliant on credit from British banks
in what ways was the government involved in generating money for the war?
prevented the legalisation of the minimum wage
graduated income tax in 1799
massive borrowing
what was the effect of the wars on banking?
banking industry GREW in Britain
more government stock was put up for sale which meant a stock exchange developed in Britain
stock market traders by 1812
726
when was the London Stock Exchange set up?
1802
how many banks by 1815?
over 600
what was the role of Nathan Rothschild in the wars?
helped fund the debt and arrange loans
funded the British expedition into the Iberian Peninsula
why did farmers benefit from the war?
higher wartime prices meant they were getting more money for their produce
what farming revolution had taken place during the war?
the agrarian revolution
what were the Corn Laws of 1815?
placed tariffs on cheaper international imports of grain in favour of domestic trade of grain
increased price of food
what economic system did Britain adopt?
Mercantalism
maximise exports
minimalise imports
encouraged imperialism and colonialism
what impact did the Agrarian revolution have on British agriculture?
farming was more efficient
new technology introduced to improve farming
examples of new technology used in agriculture
crop rotation
selective breeding
new machinery
crop rotation
improved field fertility and ensured fields weren’t left fallow
selective breeding
allowed farmers to produce sheep and cows which produced more meat, wool and milk
new machinery
lighter ploughs which needed less horses and men to use
when was the Board of Agriculture set up?
1793
what was the Board of Agriculture?
surveyed the farming across Britain
promoted modernisation of agriculture
what were Parliamentary Enclosure Acts?
when small farms were forcibly absorbed by larger farms
how many Parliamentary Enclosure Acts by 1820?
3,000
pros of Parliamentary Enclosure Acts
increased output as farms became more centralised and grew in size
more richer farmers had more access to land which could be exploited by access to new technology
MORE CULTIVATED LAND
cons of Parliamentary Enclosure Acts
left many small farmers unemployed
grain import decrease between 1807 and 1808
fallen by 100,000 tonnes
what happened to the price of grain?
with imports too expensive, grain prices went up
when were the poor harvests?
1809 and 1810
was consumption of luxury goods affected?
not really
imports from Empire and neutral nations were still occuring
why was there an oak problem in Britain?
instead of planting oak trees, landowners were heavily investing in grain plantations instead
led to a lack of oak in Britain
oak was vital for the construction and repair of RN ships
what tech was influential in the production of cotton?
Crompton’s spinning mule
powered looms
by 1818 how many cotton mills in Britain?
337
what impact did the war have on industry?
it STIMULATED it
which countries did Britain begin exporting cotton to during the war?
Spain and Portugal
why did the war boost the textile industry?
production of army uniforms
examples of industrial technology developed during wars
industrial lathe 1797
improved power loom 1813
what was significant about factories building sailing blocks?
first factories in the world to have mass-production lines
why did the war boost the iron industry?
needed for cannons and guns
Cyfartha iron works in 1787
500 tons of iron a year
Cyfartha iron works in 1812
10,000 tons a year
why did the war lead to many canals being built?
materials had to be moved around Britain and canals made this more efficient
roads were slow and of low quality
when was the steam-engine locomotive invented?
1802
what were Martello Towers?
coastal defences which were built by the government to prevent an invasion
major wartime construction project
when was the London-Portsmouth telegraph line completed and how important was it?
1806
allowed communication between the Admiralty in London and the RN ships docked in Portsmouth
what was Luddism?
many skilled workers started breaking machines that were taking their jobs
how did the government deal with Luddism?
in 1812 it became a capital offence to break a machine
how many Luddites hanged in 1813?
17
