slave trade - benefits to british economy

Question 1

Jobs in shipbuilding and related industries where available at ports

Answer 1

Ship builders, carpenters, iron mongers and rope makers where required

Question 2

Industry around the port city’s developed to supply slave traders with goods to trade in Africa

Answer 2

For example there where 4000 gun makers in Birmingham making 100,000 per year to sell to slave traders in Africa

Question 3

London developed as a centre of finance and banking

Answer 3

The Bank of England and Barkleys bank where set up to lend money and credit to slave traders

Question 4

With more jobs available port cities grew.

Answer 4

From 1700-1800 the population of Liverpool grew a huge amount. With work the living standards for people grew.

Question 5

London developed as an insurance centre

Answer 5

Loyds of London was set up to insure ships against loss of goods or stock and damage to the ships in storms for example

Question 6

Profits from the slave trade supported other industries in Britain

Answer 6

Tax income from Jamaica was huge. The government used money raised in tax to build up the Royal Navy for example