Trade and empire 1857-1890 Flashcards
what was the preferred method of trade which dominated the 18th Ce
Mercantism /Protectionism
how did mercantilism and protectionism work
Belief in a controlled and regulated for of trade monopolised by one superior country
Colonies expected ot send all products to Britain, buy only British goods and import and export through only British ships.
Charted compnies such as the East India Trading Company
what form of trade dominated the 19th century
Free Trade
how did Free Trade work
- enforce free trade agreements with countries
British navy enforced British terms
- under free trade imperial investments and trade grew enourmusly
In the 3rd quarter of the 19th century 20% of Britians imports came form its colomies
Whilst the empire provided a market for a 3rd of British exports
London became the teefincancila capital of the world and pound sterling the international currency of Trade
where were ideas of Free Trade inspired from
Ada, Smith ‘wealth of Nations’
what were the methods of trade and commerce that was utilised by empire in the 19th C
-Shipping and Steam Ships
- Railways
-Canals and rivers
What were Clipper Ships
- smaller/speedy boears
- used to transport spices, luxuries, mail and people
impact of Steam Ships
These were used to trave; around the world and for bulkier produce
impact of compound steam ships
steam shipping more economical
Massice development in in 1850s, companies cut down the journey from britian to west Africa to 3 weeks and
By 1870 steam ships were even used to send cargo up th4e Niger river
what was the impact of railways
Britian invested in them, provided engineers and stocks so the colonies depended on Britian
Investment and control
‘railway imperialism’
Canada was forced to accept LBritish policies in the 1880s as a price for London capital guarantees.
Providing links between rural areas of production and the sea
Opened up Canada Prairies
Enable Australia to export wheat and wool
Allowed south Africa to export commercial industries and territories intop the interior (minngs)
In inidia it allowed them to link the cotton and jute areas in the north to the mills of Bombay and calcuta
What was the impact of Canals and Rivers
Uses for canals
Explore quests to dicover what lay behind the coastal areas
- facilitate trade
- sometimes rivers had to be sstraightened, wided or deepend
Examples
New canals developed after 1857 to improve access between parts of India
Canals were developed in Canada to overcome the height differences of its great lakes
