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British History HLS > post war economic developments > Flashcards

post war economic developments Flashcards

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1
Q

How was extra labour made available during the war

A

the Women’s Land Army, soldiers and even prisoners of war

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2
Q

How much had world trade grown before WW1

A

grown by 25% per decade between 1830 and 1914

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3
Q

how much did the world trade grow in the 1920s and 1930s

A

it only grew 8.5% in the 1920s

it fell by 35% between 1929 and 1922

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4
Q

what were the averages of unemployment staple British industries

A
  1. 9% in 1929
  2. 9% in 1932
  3. 5% in 1936
  4. 3% in 1938
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5
Q

what is autarky

A

economic self-sufficiency and independence

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6
Q

what were the main components of British exports % of total output

A

1910-19 Cotton 25%, Other textiles 15%, Iron and Steel 12%, Coal 10%
1920-29 Cotton 24%, Other textiles 12%, Iron and Steel 12%, Coal 8%
1930-39 Cotton 14%, Other textiles 10%, Iron and Steel 12% and Coal 9%
COTTON, TEXTILES DROPPED
COAL AND IRON AND STEEL STAYED RELATIVELY THE SAME

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7
Q

what was the negative cycle in the staple industries

A

lack of investment, lack of modernisation, uncompetitive against foreign competition, falling profits

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8
Q

What were coal output and exports between 1913 and 1933

A

Output - 287 tons in 1913, 208 tons in 1933

Exports - 98 tons in 1913, 57 tons in 1933

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9
Q

what had Britain’s share of the worlds shipping tonnage dropped to in 1929

A

it was 59% between 1909-1913

45% between 1920 and 1929

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10
Q

what per cent of the world fleet registered in Britain

A

it was 30% in 1920 down from 41% in 1914.

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11
Q

how many working days were lost in 1921

A

86 million in 1921

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12
Q

what was the triple alliance

A

railwaymen, miners and transport workers

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13
Q

how did the mining industry and coal industry lead to the general strike

A

The mining industry had failed to modernise, conditions were poor and pay varied from mine to mine
The coal industry and other staple industries were in decline and struggling against foreign competition in their export markets

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14
Q

what kept wages low in stable industries

A

structural unemployment

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15
Q

What was introduced in April 1925

A

the gold standard

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16
Q

who backed miners and resulted in a general strike being on the cards

A

the TUC

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17
Q

When was the Samuels Commission published

A

March 1926

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18
Q

What did the Samuels Commission outline

A

it suggested that mine owners needed to modernise and that government subsidy should end. In the long term pay should not be cut (but in the short term cuts might be needed) and hours should not be increased

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19
Q

how did the miners and mine owners respond to the Samuels Commission

A

they declined it

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20
Q

When did the mine owners announce a pay reduction

A

30 April 1926

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21
Q

When did the miners announce a strike

A

1 May 1926

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22
Q

When did owners lock the miners out

A

30 April 1926

23
Q

What did Lord Birkenhead famously say about the strike

A

‘It would be possible to say without exaggeration that the miners’ leaders were the stupidest men in England if we had not on frequent occasion to meet the owners.’

24
Q

How long did the General Strike last

A

4 - 9 May 1926 (except for the miners, who stayed on strike for the rest of the year before having to back down)

25
Q

what happened to the TUC after the strike

A

the TUC made huge losses and union membership fell

26
Q

What did Baldwin pass in response to the general strike

A

The Trade Disputes Act 1927. It restricted union power and prevented another general strike. It banned sympathy strikes, allowed the seizure of union funds and reversed the 1913 trades disputes act.

27
Q

what did the National Debt rise to in 1918

A

It went from £625 million in 1914 to £7980 million in 1918. It continued to rise until 1939.

28
Q

What was debt in comparison to GDP

A

The national debt was always more than 100% of GDP

29
Q

who pursued a policy of retrenchment

A

Sir Eric Geddes

30
Q

who was Sir Eric Geddes

A

chairman of the committee of national expenditure

31
Q

what was the Geddes axe

A

£64 million of cuts that affected the army, navy, education, health services and the building of council houses. This was incredibly unpopular

32
Q

what did unemployment rise to

A

It peaked at about 3 million in 1933. Never really dropped below a million

33
Q

Who returned Britain to the Gold Standard

A

Winston Churchill

34
Q

when was Britain return to the Gold Standard

A

April 1925

35
Q

what was the pound valued at

A

the prewar value of $4.86

36
Q

who said this was ten per cent too high

A

John Maynard Keynes

37
Q

what did the overvaluation of the pound cause

A

British exports became more expensive and uncompetitive, hitting employment and wage rates in the staple industries that were reliant on export markets

38
Q

what was needed for the gold standard to be maintained

A

high-interest rates

39
Q

when was the gold standard abandoned

A

August 1931

40
Q

what did the value of the pound fall to

A

from $4.86 to $3.20

41
Q

what did the Labour government do after the wall street crash

A

introduced a small degree of funding for public works (42 million)

42
Q

what did the Labour government split over

A

The need for cuts to spending and unemployment benefits

43
Q

how much was unemployment benefits cut by

A

10%

44
Q

what were interest rates cut to

A

12% to 6% in 1931 and then 2% in 1932

45
Q

When was the unemployment act and what did it introduce

A

1934

the administration of benefits, although it did nothing to solve unemployment

46
Q

When was the special areas act and what did it do

A

1935
it made £2 million available to relieve structural unemployment. 44,000 workers were encouraged to move and 30,000 men were restrained

47
Q

What helped the car industry

A

the use of motor vehicles by the armed forces during the war helped build skills in terms of production, servicing and repairing vehicles

48
Q

what did employment in the car industry rise to

A

in 1923 - 120,000 to 250,000 by 1938.

49
Q

what production methods were adopted

A

Henry Ford’s production line methods

50
Q

what cars were produced to be affordable for the masses

A

the Austin 7 and the morris Cowley

51
Q

what per cent of cars produced in Britain were sold in Britain

A

88%

52
Q

what tariff was introduced in 1915 that was buoyant enough to support the industry

A

33% tariff

53
Q

how much did wages increase on average in real terms

A

33% between 1913 and 1938

British History HLS (38 decks)

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