Trade and Commerce 1857-90 Flashcards
Name some economic benefits for the colonies of being a part of the empire
Britain could provide any economic service that colonies might need
Colonies could buy services in Britain more cheaply then foreign states could
Negatives for colonies of being part of Empire
Dependant on Britain
Collapse of local indigenous industry
Britain wanted to dominate
In the 3rd quarter of the 19th Century, how many of Britain’s imports came from its Colonies?How much of Britain’s exports did the empire buy?
20%
1/3
Explain how development of compound steam ships helped empire
Compound Steam ships developed in the 1850s used less coal and therefore made steam shipping more economical
Massive development in the 1850s: Companies cut the time of transport from Great Britain to West Africa to three weeks and increased cargo capacity.
Explain what effect Britain building railways for the colonies had
Building railways ensured British control: Britain invested in them, provided engineers and rolling stocks so the colonies depended on Britain.
Explain some economic benefits of the railways
Enables Australia to export wheat and wool
Allowed South Africa to expand commercial interests and territories into the interior (mining).
In India they linked the cotton and jute growing areas
Uses for Canals
Explorer quests to discover what lay behind the coastal areas.
Facilitate trade
What year was the rule of the British East India Company was transferred to the Crown?
1858
How did empire make Britain wealthier
India to 20% of British exports - worth 150 m
India exports huge amount of tea and cotton to Britain who consume it and sell it on
Beef and wheat from Canada
Was trade with empire bad for Britain
Undermined British food producers
Empire cost middle class more then it benefited them (taxes)
Cheap foreign labour depressed wages in Britain
Reliance on empire showed by the fact Imperial federation league disbanded in 1893
Cost of defending empire huge
