Trade

Question 1

Abolition of slave trade

Answer 1

Slave trade act 1807 - banned britains involvement, buy or sell slaves
Slavery abolition act 1833 - slaves emancipated, owners compensated
Less popular, slaves resisting, work of wilberforce

Massive loss of britains income through tariffs and taxes, lost market for manufactured goods and access to cheap RM
Had to diversify trade, new routes, end mercantilism

Significant - completely re structure methods of trade

Question 2

Acquisition of Singapore

Answer 2

Growing demand for Chinese goods in Britain (tea, silk, porcelain)
Only allowed through canton, ‘Hongs’ high fees, Dutch ports Chartyedr acts- EIC lost monopoly on India bit gained monopoly on trade

Raffles sought remission to establish trading base, small port in sing ore, parliament not aware

Ideal position for Britain, more trade (2700% inc. 5 yrs) entrepôt, take goods without going to canton, boom after free trade, shorter journey=done more frequently, equal position from china and India

Question 3

Repeal of navigation acts

Answer 3

Step towards free trade by Robert peel,k open up new markets
Foreign ships banned from trading in colonies, imports and exports through British ports,some goods forbidden outside England
Light touch enforcement ‘salutary neglect’
Peel abolished tariffs, sugar duties, corn laws

New markets and raw materials, maximise efficiency, colonies grow economically, purchase British and good, increase demand for exports, diversify trade

Britain could access more markets and goods

Question 4

Adoption of free trade

Question 5

Trade in coal and textiles

Question 6

Trade with far east

Question 7

Trade with latin america

Answer 7

• idependence from Iberian - mutually beneficial trade routes
• goods, expertise, infrastructure - Thomas brassey railway network
• 7% exports to lat am, increasing imports - Argentina

Question 8

Trade with North America

Answer 8

40% us imports Britain cotton - cotton cloth
Us increased manufactured goods -till 20% till Great War

Question 9

Trade with India

Answer 9

• provide raw mat, buy manu fac goods
• Britain provide cotton goods, after 1900 iron, steel and engineering products
  India supplied tea, raw cotton, rice, wheat
  Scale increased after sued opening

Question 10

Acquisition of zanzibar

Answer 10

Interests increase after 1815, hub for goods, secure route to India, trade routes through Africa, relied on slaves and ivory
German expansion into Africa triggered British response
Secure upper reaches of Nile to sustain occupation of Egypt
New sultan - anti British 38 min war
Unprofitable - counter germans

Question 11

Lease of weihaiwei

Answer 11

Russia sought warm water port
Japan captured port Arthur - expand influence
Russia swapped for port Arthur
Britain demanded another port from china - leased

Only to watch russia - gg
Expired when lost port Arthur

Question 12

Suez Canal

Question 13

Government policy

Answer 13

mercantilism- positive bakance of trade - invest in economic growth
protectionism - tarrifs and taxes, incourage domestic growth
free trade adopted - cor=ersion to make others do the same
colonies no longer seen as vital, symbol of status
1763-1914 - focus on open global markets through trade
change in gov policy - growth in trade

Question 14

Acquisition of Hong Kong