Topic 4 Flashcards
When was the golden age of agriculture?
1870s
What was the golden age of agriculture?
Artificial fertiliser was worth £8 million which increased innovation and productivity
1870s = 50% wheat and 90% meat consumed was British. Increased the standard of living amongst the general population
How much were the staple industries growing?
2/3% each year
What were the effects of the growth of staple industries?
Increased job opportunities for WC. Between 1850 and 1875 real wages increased by 30%. WC have increased spending power
What was the population by 1851?
27 million
What were the effects of population growth?
WC overcrowded because Gladstone passed little legislation
Reasons for an agricultural boom
Introduction of artificial fertilisers
Poor draining problems solved by the manufacturing of clay pipes
Railways = food transported quickly
High yield between 1850 and 1873
Evidence of an agricultural boom
Guano (artificial fertiliser) worth £8 million by 1870
Animal feedstuffs were worth £5 million by 1870
1870 - farmers produced 50% wheat and 90% of meat
Reasons for an industrial boom
Britain controlled vital sea routes
1875 - every major town had a sea port or railway
Neilson’s hot blast and Nasmyth’s steam hammer increased iron output from 1850s
Bessamer steel rails boosted industry in 1860s by cutting productivity
New industries created e.g. aluminium, rubber etc
Suez Canal opened in 1869 and cut the journey time to China, India and Australia
Evidence of an industrial boom
Growth of Coal. 1875 - 130 million tonnes (vs 50 million in 1850) and exports were worth £8.8 million tonnes
Iron - 1875 15 million tonnes vs 9 million tonnes in 1855
Railway. 1875 - £24.3 million railway tickets vs 1860 - £12.2 million
Between 1850 and 1880, tonnage of ships reached 3 million
1851 - 2/3 textiles exports
Reasons for a trade boom
Staple industries
International trade increased Britain’s influence abroad
Free trade
Evidence of a trade boom
Economy grew by 2/3% each year
Profits meant further investment abroad e.g. railways in India
London stock exchange developed in 1880s
Decline in agriculture from 1873
1886 - 2/3 wheat was imported
Development of canned meat could be imported from Argentina
Refrigeration meant goods could be imported from Australia
1899 - 40% meat imported
Consequences of a decline in agriculture
Farmers went bankrupt
400,000 labourers settled in towns (leaving farms) between 1871 and 1901
Why was there a decline in industry?
Britain did not adapt quick enough and had fallen behind on technology by 1880s
Germany and USA exploited steel more effectively
Demand for steel at home reduced
No engagement with new industries like chemicals and electrical engineering
Evidence Britain were not in a depression
Number 1 shipbuilders in world (Harland and Wolf in Belfast)
Balance of payments was in a surplus
Largest outlet for tea, sugar cane and wheat
What happened in 1851?
Great Exhibition
