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Empire - Trade + Navy > Trade > Flashcards

Trade Flashcards

1
Q

Evidence for Expansion of Trade

A

American Revolution
Industrial Revolution
End of Slave trade
Singapore, HK, Shanghai
Free trade and policies of Peel and subsequent Liberal governments
Opening of Suez Canal
Expanding trade with Americas and Asia

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2
Q

Evidence for Nature of Trade

A

American independence and change in trade
Adam Smith
1832 Extension of the Franchise
Singapore
End of Slavery 1834
Industrial Revolution
Demographic changes in Britain

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3
Q

Evidence for Patterns of Trade

A

Move to trade from slavery and triangular trade to more trade in industrial goods
Move from Empire based trade to world wide trade - Americas and Asia
Massive expansion in the volume of trade after introduction of free trade
Huge expansion in free trade entrepots and trade into China
Huge expansion of trade routes for British trade

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4
Q

Features of Mercantilism

A

Trade is only conducted within the Empire - Protectionism (Navigation Acts)
British Ships only
Trade must be done via British ports
Wealth is finite
Colonisation allows access to resources you do not have

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5
Q

Key Breaks to Mercantilism

A

American Revolution / trade after revolution
Robert Campbell 1805 - Breaks EIC monopoly
Charter Act 1813

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6
Q

Why was British National Debt high 1763 - 1821?

A

Debt = 178% of GDP (1763) to 260% (1821)

Wars - 7 Years War, American Independence, French Revolutionary Wars, Napoleonic Wars.

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7
Q

Standardisation

A

Mid 1800s
Britian began to produced standardised manufactured goods which were cheaper to produce
Cheaper than rivals
Eg. cotton, textiles + rum

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8
Q

Why were the British involved in the Slave trade ?

A

Triangular Trade
1798 - ‘Lottery’ ship made £12,000 profit on the route
Growing wealth in Bristol, Liverpool + Glassgow
1790s - 120 ships a year sailing from Liverpool
English gentry invested into the slave trade
Tax/Tariffs on the slave trade helped fund the Navy
Low life expenctancy of slaves - constant demand
1766 - 40 members of Parliament had financial interests in the slave trade.
Church of England owned a slave plantation - Barbados
40% of Bristol’s wealth came from the slave trade -1780s

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9
Q

Political Barriers to the Abolition of Slavery

A

Slave ships / sailors could be called upon during the war, beneficial to the Govt. - merchant navy.

Many politicians had financial interests in the slave trade

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10
Q

Economic Barriers to the Abolition of Slavery

A

American farms had rapid slave turnover, requiring constant new slaves

British enjoyed the cheap products - eg. slave sugar

Raw materials were cheap - reducing British costs making them highly competetive.

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11
Q

Economic reasons for abolition of slavery

A

Over-supply of Sugar / Anti-Slavery Sugar Boycott (1790)
Tropical Diseases + Slave rebellions reduced profits
10% of slave ships did not make profit (1800s)
Sugar could be traded for cheaper without slavery from British colonies - eg. India

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12
Q

Political Reasons for abolition of slavery

A

French Re-introduction of slavery
Bill presented as an anti-French measure to Parliament
Anti-Slavery support in House of Commons
Campaigning of Lord Grenville - 1807

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13
Q

Humanitarian / Public reasons for abolition of slavery

A

Evangelicalism - eg. Wilberforce
Public Campaign - eg. Wedgewood protest plates
Equiano - African Anti-Slavery Campaigner
National Petitions Campaign (1788) - 500 petitions sent
Increasing Slave resistance / uprisings

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14
Q

How was Slavery abolished ?

A

1789 - Slave rebellion in Saint-Domingue (French) - France free the slaves, British invade colony
1802 - Napolean seized power / reinstates slavery, British support ex-slaves against the French.
1807 - Foreign Slave Trade Bill - forbode British selling the French slaves.
1833 - Slavery Abolition Act (1833) - Abolished slavery in most of britain’s colonies, Freed 800,000 slaves

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15
Q

British continued slave involvement post 1807

A

Millions of slaves were exported after 1808
On ships financed by the British
British investment continued where slavery was legal, eg. Cuba + Brazil
20% of British suagr imports were from Cuba
Industrialisation required raw cotton - grown by slaves in North America

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16
Q

British anti-slavery involvement post 1807

A

Anti-Slavery Patrols (1815-65)
Encouraged other to end slavery - eg. Spain
Seized hundreds of slave vessels
Only 22% of ships were stopped by patrols (1807-70)

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17
Q

1807 Effect on Caribbean planations

A

Labour shortages
Women + Children used
Cheap indentured labour from india + china
Planters invested in machinery / better care for workers
Increased product costs - reduced profits
Reduced the triangular trade route

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18
Q

Wider commercial effects post-1807

A

Decline of ports in Liverpool, Glassgow +Bristol
Britian negociated treaties with local leaders to end the slave trade
Britian still benefitted from cheap slave products
Abolition strengthened commerical ties with NA
60% of British exports went to NA
No tariffs on NA trade

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19
Q

Key beliefs of Adam Smith

A

Division of Labour
Specialisation
Wealth of Nations
Invisible Hands

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20
Q

Impact of Adam Smith

A

1779 - Smith helped Govt. consult regarding Irish demands for free trade
William Pitt was influenced by the ideas of Smith
Lord Liverpoool + Robert Peel supported Smith

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21
Q

Restriction of Smith’s influence

A

1786 - Navigation Acts strengthened
Corn Laws
Navigation Acts

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22
Q

Industrial / Technlogical reasons for free trade

A

1851 - UK produced 2/3 of the world’s coal + 1/2 world’s cloth.
Advanced transport systems
Access to raw materials
Steam Power
British production was cheap, quick and effecient
Free trade gave access to profitable export markets
British products would dominate

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23
Q

Demographic Change supporting free trade

A

City population - 15% (1750) to 85% (1900)
British agriculture declined - Grain production 3/4 (1846) + 1/5 (1914)
Free trade made food cheaper - cheap imports
Improved health, Productivity + lower food prices
Improved terms of trade - ie. valuable exports / shit imports - positive BoT

24
Q

Social Factors supporting free trade

A

Political campaigns had exposed urban poverty
1840 Potato Famine - Ireland
Peel said a reduction in tariffs could help the famine - benefit restricted to British not Iris

25
Q

Political Reasons for Free trade

A

Parliament was dominated by landed aristocrats
Politicians had vested interests in maintaining tariffs to protect their land’s profit
Great Reform Act (1832) - expanded electorate
Peel knew that to appeal to wider electorate, free trade must be adopted.

26
Q

Commericial factors for free trade

A

Tariffs were viewed as a hinderence on British growth
Export of machinery was banned until 1825.
Free trade would remove the tariffs of trade from NA
The end to protectionism would promote prosperity

27
Q

National Finances for free trade

A

It was believed that the lost tax revenue for tariffs would be detrimental to debt.
Peel argued agaisnt this
1841-44 - National debt fell from 7.5 mil to 4 mil
The belief that free trade was bad faded, especially due to the success of Singapore + other entrepots

28
Q

Why were the Corn Laws introduced ?

A

1815
Naval blockade during Napoleonic war -increase prices
End of wars - surplus grain
Tariffs introduced to ensure that the price of British corn did not fall.

29
Q

How did the corn laws change ?

A

1822 - Sliding Scale
David Riccardo - 1817 arguements
Merchant’s petition 1820 - demanded free trade
Growing acknowledgment of merchant class wants

30
Q

Key parts of Great Reform Act

A

1832
Reformed constituencies
Franchise extened
Greater merchant portion of the electorate

31
Q

Actions of Robert Peel

A

Many tariff cuts
Income tax reintroduced (1842)
Sliding scale reviewed - reduced tariff
Peel argued that free trade was a necessity if they tories were to remain in power.

32
Q

Social reasons for changing nature of trade

A

Anti-Corn Law League (1838) - Organised middle-class opposition
Merchants Petition (1820) - Demanded free trade
Urbanisation
Public Campaigns - Potato Famine / Urban Poverty

33
Q

Importation Act

A

1846
Anti-corn law league
Repeals Sugar + Corn Laws

34
Q

Repeal of the Navigation Acts

A

1849
End of Mercantilism

35
Q

Signifcance of Repeal of the Nav. Acts

A

Trade grew 10x
By 1913, Britian supplied 25% of the world’s imports
Other countries encouraged to reduce restrictions - eg. France 1860.
Changed pattern of British trade
Increased trade with the ‘informal empire’
Reduced smuggling.

36
Q

Nav. Act = not significant

A

Parts of the Acts had already been repealled (1814 + 23)
Followed the existing trend of deregulation + free-trade
Numerous exceptions to the laws existed - eg. Ireland
Large amounts of ilicit trade
British trading dominance contiuned

37
Q

Ideological Reasons for changing nature of trade

A

Adam Smith - Wealth of Nations (1777)
Riccardo - Anti-Corn law views (1817)

38
Q

Political reasons for changing nature of trade

A

Great Reform Act (1832)
Whig sympathy to merchant class
Peel supported free trade
Peel’s actions in 1842

39
Q

Economic Reasons for changing nature of trade

A

Corn laws made grain expensive
Protectionism inhibited trade
1805 Robert Campbell

40
Q

Significance of the Importation Act

A

1846
British vessels employed in foreign trade increased from 2.8 million tonnes to 16 million (1839 - 45)
Value of British exports grew from £53 m (1839) to £58 m (1844)
Some decline in British sugar plantations in West Indies

41
Q

The 5 entreports (+acquistion dates)

A

Singapore (1819)
Hong Kong (1842)
Shanghai (1842)
Zanzibar (1890)
Weihaiwei (1898)

42
Q

Significance of Singapore

A

Massive trade increase between Britian + China - handled $400,000 (spanish dollar) in trade in 1819
Silk / Porcelain + Tea traded
Free trade hub - no taxes / tariffs
Britian became the dominant commercial power in the East Indies - removing Dutch
Singapore became a crucial naval base
1824 Anglo-Dutch treaty
$11 million of trade (1824) - 2,700% increase in trade

43
Q

Initial Opium Trade

A

Strict trade restrictions in China meant the British could only enter the market via illegal opium trade
Opium grown in India and smuggled into China
China Imports - 75 tonnes (1775) to 347 tonnes (1822)

44
Q

First Opium War

A

1839-42
Chinese blockade - 1000 tonnes burned
Gunboat Diplomacy - Iron warship ‘nemesis’ + 3,000 troops.
Chinese signed Treaty of Nanking (1842) - ceded HK + Shanghai

45
Q

Significance of Hong Kong

A

Enterance of the Canton River
Direct access to Chinese trade + ports
Deep water port - ocean vessels
Hong Kong expanded massively - population + territory
1844-61 Number of ships increased 500%
In 1840, HK handled 75% of the Indian opium crop

46
Q

Significance of Shanghai

A

Access to central China via Yangtze River
Trade beyond the ‘Hong’ monopoly
Shanghai was already an important port
China became a large importer of British textiles
Opium trade reached 6,500 tonnes 1880

47
Q

Taiping Rebellion

A

1850-64
20-30 million killed
Chinese Civil War
Increased demand for British Arms
China outsourced tax collection to British - employed 3,000 people by 1900

48
Q

Significance of Zanzibar

A

Trading post for slaves + ivory (1830s)
50,000 slaves annuallly through Zanzibar
1859-1879 - growing use as an entrepot for ivory, cloves + other spices.
British East Africa Association - £250,000 secured British interests in East Africa.
1890 - Britian took Zanzibar from Germany via deal

49
Q

Lease of Weihaiwei

A

1898
Great Game
Monitor Russians in Port Arthur -siezed from Japan
No commerical interest
Purely Geopolitical reasoning

50
Q

Suez Canal Significance

A

Only steamships could travel through
Intial trade was limited
Coal used to power the ships was expensive - prior to Suez, only 2% of Asian trade was on steamship
1968-74 = 178% increase in steamship trade
3/4 tonnage was british (1874)
Major shortcut to India + East Indies - ‘highway’ to India
Construction cost 433 million francs - French funded
5 million shipping tonnage through (1890)

51
Q

British Coal Production

A

1790 - 7.6 million tonnes
1816 - 16 million tonnes
1854 - 57 million tonnes
1913 - 94 million tonnes

During the 19th century - 20x increase in British coal exports.

52
Q

Textile Industry

A

1830s - Textile industry - accounted for 50% of all foreign exports
Britain profited from cheap raw materials eg. Cotton from North America
Britian had 70% of the world textile trade (1913)

53
Q

Trade with informal empire

A

South American countries gained independence from Spanish + Portuegese - 1830s onwards
Numerous free trade treaties - eg. Argentina 1825
1850 - South Africa took 10% of British Exports
Increased investment into Informal Empire - £80 million in 1865

54
Q

Trade with North America

A

Remained each others greatest trading partner - 40% of US imports came to Britian.
American Raw materials / British Manufactured goods
Late 1800s, America introduced some protectionism
20% trade with USA remained until Great War

55
Q

Trade with the East

A

The scale of trade increased w the Suez
tea,silk + porcelain

Empire - Trade + Navy (8 decks)

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