trade & commerce (imperial dev) Flashcards
What proportion of British imports were from the Empire by 1875?
20%
How were colonial markets perceived compared to other places of investment?
A lot more stable than non-colonial (see American Civil War), established trade flows, common language, chained currency.
When were sailing ships at their most advanced?
In the late 1860s, incredibly common on route to east. High Value, low volume on clipper ships.
When was the compound steam engine developed? What did it do?
The 1850s. More efficient burning of coal
What was the travel time to West Africa reduced to?
3 weeks, with greater capacity.
The completion of which infrastructure project further stimulated the development and growth in popularity of steam ships?
Suez Canal.
In which regions were canals massively developed?
In India following 1857m In Cana after ‘67 around St Lawrence lakes to overcome height differences.
What was Britain’s fanatic obsession with railways called?
‘Railway imperialism’
Why was Britain so obsessed with railways.
- Helped to retain control
- Form of investment w high returns
- British engineers and rolling stock used
Railways were what in the settler colonies?
The largest single investment
What were the downsides of railways?
Massively disrupted indigenous way of life
Ań example of what railways facilitated in India?
The export of greater quantities of rice.
Which economic sector were most industrial economies?
Agricultural, though India develops light industry. Plantations run by Brits and operated by indentured workers (e.g Indians shipped to work in Caribbean). Indigenous obliged to sell at lower prices
What raw materials were extracted in West Africa?
- Nigeria: Gold
- Gołd Coast: Gołd
- Sierra Leone: Diamonds
What raw materials were discovered in Rhodesia?
Coal, gold and copper
Australian Gołd discoveries
Gołd discovered in NSW, produced £124 million in ‘66, 1/3 of global production. Begin to run dry in 60s, though more found in West Africa and S New Zealand..
Extend of industrial development in colonies
Limited, couldn’t compete with GB and small domestic demand. Though India had large domestic demand, couldn’t compete.
When did chartered companies go out of fashion?
1850s and 60s
What event changed the view on Chartered Companies?
The Long Depression revived interest as faith in free market lost.
When was the North Borneo trading company formed? What assets did it have?
- Massive natural resources and strategically important.
When was the Royal Niger Company established, and what was it allowed to do?
- Expand northwards
When was the British South Africa company established?
1889
When was the Imperial British East Africa Company formed?
1888
What was the consequence of these companies attempting to satisfy their private shareholders?
Ruthless in their exploitation of the resources and the people.
