trade and commerce Flashcards
how were the majority of the colonies products delt with
sent to britan
protectionist system
what book published theories of free trade
wealth of nations
adam smith
what system was there before free trade
one of economic orthodoxy
backed by bollion
trade surplus
and importing materials and exporting products
what are examples of brittan acting as the foremost trading nation
factories produce (iron and textile) good for a global market
urbanisation increased imports
largest consumer of food and raw materials
what areas of the world did britan trade with
west indies
Malayan
africa
australia
canada
india ect
how was british trade supported
government
free trade agreement
threats and coercion
what an example of britan using threats and coercion
navy during opium wars
what was britain’s limited application of force known as
imperialism of free trade
why would colonies trade with britain
loyalty
ease
common language, currency and system of commercial law
borrowing from british banks was cheaper
what was the wider impact of trade
growth in imperial trade and investment - industrial empire
growth in london/britan both financially and technologically
what percentage of british imports were from colonies
20%
when were the navigation acts passed
1660
name one law in the navigation acts
all goods must be shipped in british boats
why was britan concerned about trading with other european powers
they believed it was strengthening the enemy
what’s a chartered company
a company given the legal right to rule
a trade monopoly over a region
why were the british government relying less on chartered companies
adoption of free trade
strategic considerations eg indian rebellion
what led to the revival of chartered companies in the 1870s
challenges from europe and america
long depression
give two examples of chartered companies
royal niger company 1886
imperial british east africa company 188
why was the imperial federation league set up
to premote colonial unity and enterprise
what products (industries) were main sources of income/significance
industry
mining
agriculture
what were important infrastructures
shipping
railways
canals and rivers
telegrams
how was agriculture important
-south africa produced goods not in uk eg sugar coffee tea
-tea value went from £24k 54 to £2.4 mill 76
-rubber and palm oil from malaya
-indian workers shipped to work for low pay
how was mining important
- gold mines in australia produced 1/3 of the worlds gold
-1886/90 gold and diamonds rush in south africa
-tin in nigeria
how was industry important
-limited development in colonies as they couldn’t compete with britan eg indian mills
-underdeveloped ares we’re forced to modernise
how was shipping important
-1860s clipper ships were more efficient low volume high profit
-iron hill developed to cary more
-1850s steam engine made faster trips and upstream travel
how were railways important
-‘railway imperialism’ key for economic development and control
-disrupted indigenous land/peoples
-largest investment in many colonies
how were canals and rivers important
-rivers vital to transporting goods
-main focus for explorers
-canals built for speed and safety
-wetland canal built in canada
how were telegrams important
-reduced time of messages from months to minutes
-wire to atlantic/india 1866
-wire to australia 1872
-world wire 1902
