Trade and Commerce 1890 - 1914

Question 1

What was the general assumption in 1890 regarding t +c

Answer 1

That Empire would make Britain wealthy

Question 2

What did GB have in its own colonies?

Answer 2

Free trade

Question 3

What did GB import from New Zealand?

Answer 3

Dairy, lamb

Question 4

Imports from Australia

Answer 4

Wool, sugar

Question 5

Imports from Canada?

Answer 5

beef = 10% --------- by 1914
wheat = 15% ------ by 1914

Question 6

The importance of shipping and rail? an example of where railway was built for trade and commerce?

Answer 6

Supplied major trade and commerce networks - Uganda to Mombassa - from African interior where agricultural production to shipping ports

Question 7

Benefits became less significant in mid 1890s, shown by the dissolvement of what in 1893?

Answer 7

Imperial Federation League (est. 1884)

Question 8

Did GB start to become more reliant on non empire countries?

Answer 8

Yes!!!!!!!!!

Question 9

By 1896, how much of trade was with Empire?

Answer 9

£183 million out of £745 million - roughly 1/4 of trade with empire in 1896!!!!

Question 10

How much food did Empire provide GB with?

Answer 10

Only 10%

Question 11

In 1913, the % of imports from Empire?

Answer 11

25%

Question 12

1913, Exports to Empire accounted for how much?

Answer 12

37%

Question 13

What did this shift in trading focus create in GB?

Answer 13

Economic debate between imperialists like Joseph Chamberlain and manufacturers

Question 14

What did the manufacturers, bankers, shippers argue for?

Answer 14

Free trade as Empire was not self sufficient and it cost too much

Question 15

What idea about Empire was being introduced?

Answer 15

Empire was too costly - a burden to maintain

Question 16

What did Chamberlain argue for?

Answer 16

Imperial preference - to only trade with Empire - tariffs and protectionism

Question 17

How did international pressure support those against imperial preference?

Answer 17

The rise of international European powers e.g Germany who had domestic development in industry, overtook GB in chemical and electrical engineering

Question 18

What did Chamberlain do in 1902 to try and create imperial preference?

Answer 18

A Colonial Conference to solidify economic ties with empire

Question 19

When was the idea of imperial preference rejected by the British?

Answer 19

1906 - Liberals win election - supported free trade, domestic reform

Question 20

Investment in Empire 1890 - 1914: main location of overseas investment?

Answer 20

Not Empire - USA - India although crown colony was self financing

Question 21

By 1914, how much GB had India absorbed?

Answer 21

20% of exports and £150 million - exported tea, cotton to GB

Question 22

What was the Gold Standard and how did it help British trade?

Answer 22

It fixed the value of the pound backed by gold reserves - became basis for global monetary system - symbol of British economic status - International interest rather then exclusively empire

Question 23

What were invisibles?

Answer 23

Insurance companies - sold insurance to shippers, merchants and international trade developed - this money was then invested in colonies e.g Rail from Uganda to Mombassa 1900

• type of trade changed from commodities - overseas investment from £2million to £4million in 1914