Trade Flashcards

Question

What did repealing the navigation acts entail ?

Answer 1

Colonial goods no longer needed to be carried on British ships Certain goods did not have to go via English ports if they were being shipped somewhere else European imports to British colonies no longer needed to go VIA Britain

Answer 2

Originally - salutary neglect Smuggling was rife However after Britain wanted to create a large army in North America they were enforced more strictly to make the American colonies pay for their own protection

Answer 3

Made trade more effective Increased trade Opened new markets outside colonies 1867 - £131 'million out of £181 million pounds worth of exports were to places outside empire

Answer 4

West Indian plantation owners Sugar was bought from slave plantations in Brazil for cheaper than the the plantations in the West Indies where we banned slaves

Answer 5

Free trade was effectively chosen over national defence as the aim of the navigation acts was to get more British ships so the navy could draw on them during war

Answer 6

Food was cheaper ! | As it meant imports were cheaper with no tariffs

Answer 7

Protectionism to free trade with no tariffs :)

Answer 8

Repeal of navigation acts as it increased trade markets on a much larger scale and trade massively increased However Slave trade impact Sugar trade End of triangle trade Disruption to slaving ports Not great impact New markets found Sugar trade continued Slaving ports diversified Navigation act impact Free trade established International trade on mass scale with increased markets Increased trade Not great impact Final act in move towards free trade

Answer 9

Where ships of all nations can dock without paying taxes of tariffs on their cargos

Answer 10

Stamford Raffles rented it in 1819 To undermine Dutch prominence in the area and so the trade route to China was made more effective and cheaper

Answer 11

No tariffs meant that Singapore eclipsed other ports in the region Businesses set up headquarters there and were taxed lightly It was half way between India and China and was useful as you could buy Chinese goods without going to China and the Chinese could buy opium there

Answer 12

Free trade is very successful !

Answer 13

Britain wanted to see manufactured goods to the Chinese in exchange for tea , silk and porcelain But the Chinese wanted gold and silver This led to a negative balance of trade for Britain !

Answer 14

Smuggling and selling opium made produced in India | This reversed the balance of trade and silver bullion flooded out of china

Answer 15

1839 - imports reached 2553 tons Estimated the between 4 and 12 million Chinese people were regular users by mid 19th century

Answer 16

Chinese blockade 1839 | Blockades canton and burned 1000 tons of opium

Answer 17

First Opium war Sent in the Navy which destroyed the Chinese navy and put the British in the position to dictate terms They seized Hong Kong in 1841 and as this grew as an entrepôt, the British pressured for more territories

Answer 18

Successful entrepôt as it was a secure location for large vessels to offload cargo without paying tariffs Population from Hong Kong grew 15,000 to 300,000 from 1841 to 1900 Meant British government put pressure on the Chinese for more treaties

Answer 19

1842 UNEQUAL TREATY Chinese had to cede the island of Hong Kong Pay 6 million for destroyed opium 3 million to merchants in Canton 12 million to cover cost of war Paid within 3 years at 5% interest to late payments Open ports of shangai Ningpo ... to foreign traders with low tariffs of 5% British citizens got legal protection in China

Answer 20

Location - situated on mouth of Yangtze so if opened up the interior of China which was previously inaccessible As well as coastal trade ! Britain could trade with anyone rather than just Hong Kong monopoly Americans and French established settlements there

Answer 21

6500 tons by 1880 Grew more steadily

Answer 22

Meant that the route to Far East would be quicker for traders who would no longer have to go around the bottom of Africa

Answer 23

Britain began to use it more frequently By 1974, 3/4 of tonnage that passed through was British It was only practical for steam ships so the amount of steam ships increased 1868-1874- steam tonnage from British ships increased 178%

Answer 24

1875 British PM Disraeli bought it after the Khedive had become bankrupted For 4,000,000 borrowing money from the Rothschild family Without consulting parliament

Answer 25

Geo political motivations Evidence of Britain acting otherwise another European power would Worried french may start putting restrictions on British shipping Methods - buying ! Rather than seizing !

Answer 26

Yes Dividends increased from 4.7% to 33 % in the first five years

Answer 27

'Scramble for Africa' 1884-1885 European powers want territory so the others couldn't have it Wanted to watch the Germans as it was opposite German East Africa But officially it was to put an end to Arab run slave trade

Answer 28

Bismarck 1890 treaty formalised who got what Germany gave up in Zanzibar in exchange for small island by Germany Zanzibaris not involved in negotiations

Answer 29

Shift in empire's motivations from financial to geo political and wanting to "paint the map red"

Answer 30

Protectorate status So it was cheaper But there was no doubt as to who was in charge

Answer 31

Britain wanted to keep an eye on Russian fleet at port Arthur

Answer 32

It lost money as a desperate attempt to spy on rivals Demonstrates its decline as Britain were no longer motivated by trade and profit but were beginning to waste money in military and power relations which was long term unsustainable