Trade

Question 1

1

Answer 1

20 33
Modernisation
Mining
Agriculture
Industry
Chartered companies
Advantages / disadvantages for colonies

Question 2

2

Answer 2

Pro / anti imperial trade
IFL
Investment
London Colonial Conference
Anti imperial preference
Undermining imperial trade

Question 3

3

Answer 3

Colonial Development Act
Initiatives
Impact of WW1 on Britain, India, Dominions
Phases
Fixing currencies to sterling
Exports late 1920's / early 1930's
Ottowa Conference
Imperial imports as a percentage of total British imports
Value of imperial trade and commerce for the Empire
Impact of WW2 on British trade
US loan
Post-war retention policy
Colonial Development and Welfare Acts

Question 4

4

Answer 4

Imperial trade post-war importance
Imports / exports (1956-65)
Factors behind declining trade with Empire
successful / unsuccessful post-war colonial development schemes

Question 5

Percentage of British imports from Empire between 1850-1875

Answer 5

20%

Question 6

Percentage of British exports to Empire between 1850-1875?

Answer 6

33%

Question 7

Pro imperial trade (1890-1914)

Answer 7

India took in 20% of British exports by 1914, worth £150 million
New Zealand supplied 10% of British beed and 15% of British wheat-flour
Value of imperial trade by 1896 - £745 million

Question 8

British investment in Empire between 1890-1914

Answer 8

British investment in Empire doubled between £2 billion and £4 billion between 1900 and 1913
1899 Colonial Loans Act
1900 Colonial Stocks Act

Question 9

Anti imperial preference

Answer 9

Manufacturing, shipping and banking industries
Went against their principles of free trade
1906 Liberal General Election victory demonstrated view of British public

Question 10

Undermining imperial trade

Answer 10

Canadian trade agreements with other countries
Import tariffs placed on British goods by the white dominions
Swadeshi - boycotting and burning of British goods

Question 11

Colonial Development Act

Answer 11

1929

Earmarked £1 million for developing the colonies

Question 12

Impact of WW1 on Britain

Answer 12

£ removed from gold standard
Overseas investments wiped out
Industry weakened as had been directed towards the war effort
Intensified as a result of the Great Depression

Question 13

Impact of WW1 on the White Dominions

Answer 13

Canada came out stronger - trade relations with USA + economy free of British control / exploitation
New Zealand and Australia severely weakened
Had been heavily reliant of British markets

Question 14

Impact of WW1 on India

Answer 14

Inflation and shortages due to £100 million contribution
Lack of British investment during war allowed internal markets to grow
British increasing import tax allowed internal markets to develop - 6.9% in 1913 to 25% in 1931

Question 15

Phases of inter-war trade and commerce

Answer 15

1920’s - no imperial preference
1925 -£ added to gold standard
1930’s - return to imperial preference
1931 - £ removed from gold standard

Question 16

Significance of some colonies fixing the value of their currency to Sterling

Answer 16

Promoted closer imperial ties
Provided a market for Britain to export its goods to
Reduced the impact of the Great Depression

Question 17

Exports late 1920’s / early 1930’s

Answer 17

Rise of competing markets in the colonies from strengthening international powers (Japan - cotton)
Imperialists (Lord Beaverbrook) argued in favour of imperial preference, but notion opposed by colonies as it failed to maximise their trade revenue
Compromise reached at Ottowa Conference (1932)

Question 18

Ottowa Conference

Answer 18

1932
Britain agreed to a 10% import tax on all goods except those coming from Crown Colonies
Reinforced the role of the Empire in supplying food and raw materials for Britain

Question 19

Imperial import as a percentage of total British imports

Answer 19

1913 - 24.9%

1934 - 35.3%

Question 20

Value of imperial trade and commerce for the Empire

Answer 20

Australia and New Zealand experienced serious economic problems in the inter-war period
Cost of their imports from Britain outstripped the income from their exports to Britain
Both ran up debts with Britain
Imperial preference became especially important for these countries when international trade slumped during the 1930’s as a result of the Great Depression
African colonies, Burma and Malaya hit hard by the Great Depression, leading to poverty and starvation, which fulled dissatisfaction with colonial rule

Question 21

Impact of WW2 on British trade

Answer 21

Lend-lease from USA from 1941-1945
Export industry weakened as directed towards the war
1/3 of overseas assets had to be sol off

Question 22

US loan

Answer 22

$900 million
Negotiated by John Manyard Keynes
£ required to be freely convertible into $

Question 23

Post-war colonial retention policy

Answer 23

Colonies discarded which Britain believed would not be of economic benefit for Britain
Palestine/India
Colonies retained which Britain believed would be of economic benefit for Britain
Malaya

Question 24

Colonial Development and Welfare Acts

Answer 24

1940
Formed basis for British post-war colonial retention policy
Wrote off some colonial debt
Granted colonies £5 million loans

1945
Granted colonies £120 million over a 10 year span
Countries had to provide a 10 year plan on how it would spend this money

Question 25

Imperial trade post-war importance

Answer 25

1958 - 58% of all overseas investments into British shares and securities were in companies or governments of Empire

Question 26

Imports / exports (1956/65)

Answer 26

Imports 1956 - 48%
Exports - 48%

Imports 1965 - 30%
Exports - 28%

Question 27

Factors behind declining trade with Empire

Answer 27

Rise of European markets due to Marshall Aid, liberal democracy which encouraged private enterprise

Question 28

successful / unsuccessful post-war colonial development schemes

Answer 28

Unsuccessful - Tanganyika groundnut scheme

Successful - Colonial Development Corporation / Colonial Development and Welfare Acts