Trade and Commerce 1890-1914 Flashcards
What percentage of total British exports did India take in 1914?
In 1914, India took up 20% of Britain’s total exports, worth almost £150 million.
What goods did Britain import from India (2)?
Mainly tea and raw cotton.
What goods did Britain import from South Africa and Australia (2)?
Mainly wool and sugar.
What goods did Britain import from New Zealand (2)?
Mainly dairy produce and lamb.
What goods did Britain import from Canada (2)?
Mainly beef and wheat.
How significant was Canada for Britain economically in 1914 (2)?
1) Supplied 10% of Britain’s beef and 15% of Britain’s wheat flour by 1914.
2) In 1914, 45 thousand square miles was set aside for wheat production in Canada, a six times increase since 1900.
What goods did Britain import from West Africa (5)?
Mainly timber, cocoa, rubber, peanuts and palm oil.
What modes of transport were the main facilitators of trade 1890-1914 (2)?
1) The ocean steamship was the bulk carrier over oceans.
2) Railways were the main means for facilitating trade and offering investment opportunities.
What was the Imperial Federations League, and what did its disbandment signify for trade?
The Imperial Federations League was est. in 1884 to promote closer imperial ties. Its disbandment in 1893 shows a decline in the Empire’s commercial importance.
What was the proportion of British imports from Empire compared to other countries in 1913?
Empire only provided 24.9% of British imports in 1913, compared to non-Empire countries providing 75.1%.
What was the proportion of British exports from Empire compared to other countries in 1913?
Empire only took 37.2% of British exports in 1913, compared to non-Empire countries taking 62.8%.
How did British wheat imports in 1894 reflect their waning economic interest with Empire?
In 1894, Britain imported 30.7 million hundredweight of wheat from the USA, 17.2 million from Russia, and only 3.6 million from Canada. This showed economic interest was waning with Empire.
What percentage of British foodstuff was supplied by Empire in 1894?
Less than 10%.
In 1896, what was Empire’s value of total trade compared with value of trade within Empire?
In 1896, Empire’s total trade was worth £745 million, with trade between countries of Empire only worth £183 million.
How did imperial trade react to imperial expansion 1890-1914?
Whilst trade between Britain and foreign countries increased, trade within Empire remained static. Despite expansion of Empire, there was no corresponding expansion of trade.
What percentage of British exports did Tropical Africa take in 1897?
In 1897, the whole of Tropical Africa took only 1.2% of British exports.
How did anti-imperialists criticise Empire, due to trade 1890-1914 (7)?
1) Argued that Empire cost the middle-class more than it benefited them, having to pay for imperial defence through tax.
2) Empire blamed for Britain’s failure to modernise industry.
3) Empire holding back developments that would raise living standards for workers.
4) Colonies blunted British commercial enterprise.
5) The imports of colonial food produce undermined domestic food production, depopulating the countryside.
6) Cheap foreign labour in the colonies depressed wages in Britain.
7) Most colonies had to be subsidised, with the costs of expansion and defence of the colonies far outweighing any fiscal returns.
What was British overseas investment in 1900 compared to 1914?
1900: British overseas investment was £2 billion.
1913: British overseas investment was £4 billion.
What 2 nations did Britain trade with most (1890-1914)?
India and the USA.
Why did British investment begin to go outside of Empire 1890-1914?
Loans within Empire were regarded as safe, whilst loans to foreign nations were riskier, but potentially yielded greater returns.
What were the Colonial Stocks Acts of 1899 and 1900?
They facilitated a number of infrastructure projects in the colonies, such as rail links into the African interior from the ports of Lagos and Mombasa.
What are invisibles?
Any export that provides income but does not have a physical appearance. E.g. banking services, insurance and returns on overseas investments.
What was the significance of the gold standard on British trade 1890-1914?
It became the basis for a global monetary system, with only a handful of countries still using the silver standard. Currencies on the gold standard were fixed in value against each other, with the gold standard becoming a symbol of Britain’s economic strength.
What was the 1902 London Colonial Conference (3)?
1)Held by Conservative Colonial Secretary Joseph Chamberlain in 1902.
2) It convened leaders from Britain and the Dominions to discuss creating economic ties through an imperial customs union.
3) This would have boosted imperial trade through customs agreements and protective tariffs against non-imperial imports.
