The changing nature and extent of trade 1763-1914 Flashcards
What was government debt as a percentage of GDP in 1763?
157% after Seven Years War
What was government debt as a percentage of GDP in 1821?
260% after Napoleonic Wars
Which 2 trade policies irritated Britain’s colonies greatly?
Protectionists and Mercantilism
Why was free trade so good for the merchants of Britain during the 19th Century?
This standardisation of trade allowed for them to profit, as they could create manufactured goods most cheaply
Which change in government policy towards colonies was characterised by the Scramble for Africa?
The desire for geopolitical power over other European nations (instead of just trade interests)
Which goods did British merchants trade with African slave merchants?
Textiles, alcohol and firearms
What is the name of 2nd leg of the slave trade?
The Middle Passage
What did British merchants sell from America to British port?
Cotton, sugar (from plantations) and tobacco
Example of success of slave trade?
Thomas Leyland, 3 times mayor of Liverpool, in 1798 doubled his money by selling slaves at £50 a head
Ports which benefited from slave trade?
Bristol, Liverpool, Glasgow
How many ships a year sailed from Liverpool in the 1790s?
120-130
Who benefited in a secondary way from the slave trade?
Bankers who funded the ventures, the government who had more tariff money from trade, and also the Navy as many had to be trained to run the ships
How many MP’s in 1766 had plantations or business with them?
Upwards of 40
When was the parliamentary campaign begun, lead by who, and backed by which friend?
1789, Wilberforce and backed by Pitt the Younger
Why was the early 1790s a bad time to campaign for abolition?
After the now-revolted French emancipated their slaves in Saint-Domingue, anti-slaving was now pro-French
Why was the early 1800s a good time to campaign for abolition?
The British were supported emancipated slaves in Saint Domingue against Napoleon who tried to retake the island
When did the first Slave Trade Act pass the Commons, and when was it finally banned?
1804, defeated at Lords, 1807 passed
Why in the long term was the abolitionist movement gaining steam and give an example?
It was a financially risky trade, and economic fortunes were decreasing, as shown by the £700,000 loss in Liverpool on the trade in 1778
When did slavery end, and how much of the governments budget was spent that year on compensation?
1834, 40%
Why was mercantilism popular during the 16th-18th centuries?
The policy had caused great wealth for merchants in Spain, as by using the money they took from a positive balance of trade, they could reinvest into companies to create more money
When was Wealth of Nations published?
1776
Why was free trade called for in Ireland and when was it passed?
The growing wealth of the nation was in the hands of the wealthy, not the middle classes, so pressure lead to 1779 free trade to allow for goods to not be restricted in the ports they could be sold at
What were passed as a protectionist measure after the Napoleonic Wars?
Corn Laws
By what percentage was the electorate increased in size with the Great Reform Act?
60%
Why was the Great Reform Act important for free trade?
The newly enfranchised population were the merchants and businessmen calling for free trade
What was formed in 1838?
Anti-Corn Law League
When did Peel come to power, and with who?
His Conservative party of Peelites and Old Tories came to power in 1841
How many tariffs were abolished between 1842-46?
1,200
When were the Navigation Acts passed?
1651-73
How did tax collection change in America in 1763?
Salutary neglect was replaced by much stricter enforcement of the Navigation Laws
Why were the Navigation Acts so bad for the New England merchants?
The previous trade routes they had used were becoming closed off by the Royal Navy, with ships and sailors seized after 1763
When were the Corn Laws repealed and why?
1846, as in 1845 there was the Irish Potato famine
Which law repealed the Corn Laws and what also was repealed with it?
Importation Act 1846, also sugar duties were repealed
What was the result to the Conservative Government of pursuing free trade?
The party split after 1846 and Peel was out of power
When were the Navigation Acts repealed and by who?
1849, by the Whig Lord Russel
What was the direct effect of the repeal of the Corn Laws?
Relatively little, as the Irish had no money to buy food anyhow, and over 1 million had died 1845-52
When was Singapore founded and why?
1819 as the Straits of Malacca were dangerous with pirates, and the Dutch holdings made trade to China very expensive
Between 1819-1824, by what factor did the volume of trade in Singapore increase?
2,700%
Why was Singapore so successful?
There were no taxes or duties in trade, making it popular as an entrepot for the trade of goods - products from everywhere, in particular China and Java, could be traded without taxes
Why were there issues with trading with China along the militaristic lines?
There were up to 100 pirate boats which worked in the Seas from the Philippines and Borneo which threatened British ships
Why were there issues with trading with China along monetary lines?
Due to the limited markets for colony goods in China and the big British market for Chinese goods, there was a negative balance of trade for the EIC
When was opium banned in China and when did it’s trade increase greatly?
1729, and after the 1833 Charter Act many traded with it
How many tons of opium were traded with China in 1839, and how many were regular users by the 1850?
2,553 tons, and between 4-12 million
When did the Chinese blockade Canton and why?
1839, to crack down on the opium trade
Which policy was followed by Britain to do with China during the Opium Wars and what was the result?
Gunboat diplomacy, and the result was the taking of Hong Kong and the opening of more Chinese ports and 24m silver dollars in debt repayment
How did Hong Kong work?
It was an entrepot like Singapore where the lack of duties made trade with China the major part of it’s economy
Population of Hong Kong in 1841 and 1900?
15,000 to 300,000
Which treaty opened up China?
Nanking Treaty of 1842
Which city which was opened up in 1842 was most important?
Shanghai
Why was Shanghai so important?
It was both the most important trading city, and had great access to the interior along the Yangtze
How was Shanghai taken over by Europeans?
European nations and America set up ports which then amalgamated to form the Shanghai Municipal Council which ran the city by businessmen
How many tons of opium were traded to China in 1880?
6,500 tons
What occurred in 1850 and why did this help Shanghai merchants?
The Taiping Rebellion which meant that the merchants could now trade weapons to the Chinese emperor
When was the Suez Canal built and for what price?
1859-1869 at a price of 433 million francs
Why was the Suez Canal not very profitable when it was first opened, and who was best placed to use it because of this?
Because only steamships could use the route, which previously had been too expensive to use for long distance, and as Britain was most industrialised, it was best placed to use the Canal
When were the Suez Canal shares bought, by who, borrowed from who, and at what cost?
1875, Disraeli borrowed £4 million from the Rothschild family
Why had the Suez Canal shares been bought?
For the geopolitical gain of Britain, in a strategic move against the French and to protect trade to the east
What was traded in Zanzibar and why was it important for the region?
Slaves and ivory, and it’s trade penetrated deep into Eastern Africa
When did Britain gain an interest in Zanzibar and why?
1815 to protect Indian trade and to supress slaving
What occurred in 1822 and 1873 to do with Zanzibar?
First the export of slaves was banned, then slave trade was banned entirely
Why did Zanzibar gain importance after it’s decreasing role in the slave trade?
It was an entrepot with low taxes which traded rubber, cloves, ivory and spices, and it had access to the unpopular to use yet somewhat valuable Africa
What occurred in 1884 to change British minds about Zanzibar?
German interest (backed by Bismark government funding in 1887) in with the East German Trading Company
What was the direct result of German interest in East Africa?
Previous small settlements became important, and the land was carved up by Germany and Britain through the head rush of the Scramble for Africa
What occurred in 1890 to do with Zanzibar?
A treaty was passed, claiming land which was previously theirs German or British, and placing a British protectorate over them
Why was the treaty of 1890 so irritating for the Sultan of Zanzibar?
He was not involved in the talks
What happened in 1896 to do with Zanzibar?
The pro-British sultan died and was replaced by his cousin, but the British preferred someone else so the 38 minute war ensued
What does the actions in Zanzibar in 1896 show us about British attitudes towards other nations?
They cared less and less for local leaders and were more confident of their infallibility
When did Russia gain Port Arthur and how?
In 1895 by German/French intervention to persuade Japan to leave, and then China leased it Russia as they could not defend it
Why was the gain of Port Arthur so important for Britain?
It was a success for Russia in the Great Game
When was Weihaiwei leased from the Chinese and for how long?
1898, until the Russians lose Port Arthur
What does the taking of Weihaiwei show us about British colonial thinking?
Just like with Africa, land was taken even if it was not profitable in case it turned out to be useful at controlling another Great Power
What shows the futility of Weihaiwei?
Hong Kong was much better placed to trade with and made much more money
What percentage of UK exports and imports went to and came from North America and the West Indies in 1797?
57% of exports, 32% of imports
What percentage of the world’s trade did Britain have shares in in 1830?
45%
What was the original desire of the fleet which turned to the Mutiny on the Bounty?
To transport breadfruit to the Caribbean for slaves to eat, useful the new explored areas of the Empire for reinvestment in trade
How much did British consumption of sugar increase by in the 18th century and up to when was Britain the largest importer of the good?
Tenfold, and 1820
Where was the EIC base?
Leadenhall Street
What percentage of the world’s trade used British merchant ships 1890-1914?
60%
What role did Thomas Clarkson play in the anti-slavery movement?
He spread advice and pamphlets of the Society for the Abolition of the Slave Trade to grass-roots supporters and committees
How many petitions calling for an abolition of the slave trade reached Parliament in 1792?
519
When was the Congress of Vienna and Paris and what did they discuss?
1814/15, abolishment society trying to persuade other nations to ban the slave trade, ended in failure
Which groups tried to get slavery abolished?
Anti-Slavery Society, then born from this Agency Committee
What did the Agency Committee do from 1832?
Used the newly enfranchised electorate to gain support for complete abolishment of slavery, being more forward than previous groups
Which 2 religious groups were key for the anti-slavery movement?
Evangelical Protestants and Reformists (naturally, Quakers)
