trade and commerce during imperial consolidation (1890-1914) Flashcards
What was the role of the City of London?
Remains the world’s financial capital and capital for imperial projects raised here/ Colonial loans and Colonial Stocks acts of 1899 & 1900 facilitated infrastructure projects in Africa.
What was the British stance on the gold standard?
Forced all other nations to adopt it. By 1908, all but a few used it, making it almost a sterling standard.
Who started the Imperial Preference policy?
Joseph Chamberlain, Conservative Colonial Secretary.
Why was Imperial Preference believed in?
Could lead to more growth.
Who opposed Imperial Preference?
Resisted by big business and Britain and Empire not self-sufficient. Relied on other for trade.
What showed a clear rejection of the Imperial Preference proposal?
1906 election shows a clear rejection, as the Liberals (who won) were committed to free trade.
What was the overall trading pattern in this period?
Trade grows with non-Empire, Most foodstuffs come from non-Empire. Imperial trade stagnates.
What was total imperial trade in 1896?
£745 million
What was total intra-Empire trade in 1896?
£183 million
What was the general consensus on the Empire in the 1890s?
Empire makes Britain wealthy.
- India takes 20% of total exports (£150 million) by 1914
- Canada supplies 10% of beef and 15% of wheat flours in 1914.
What was the Imperial Federation League?
Est. in 18845 to promote closer colonial ties. Disbanded in 189 showing waning interest
What were international investment and development patterns in this period?
A lot went to USA and India rather than the rest of Empire. Imperial loans were seen as safe while the rest had bigger returns.
What were the thoughts of those who were anti-imperialist?
Said that Empire cost middle-class through taxes with little to no benefit, and blamed it for a lack of industrial modernisation, such as in chemical and electrical engineering, and depressed wages.
What was the evidence for the anti-imperialists on Britain’s lagging?
By 1910, French, Germans, Russians could synthesise rubber while Britain imported.
