Economy 1851-1885 Flashcards

(48 cards)

1
Q

Farmers turned from pure arable to…

A

Mixed farming and specialised breeding

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2
Q

How much were artificial fertilisers (such as Guano) worth by 1870?

A

£8 million

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3
Q

Why were there large improvements in crop yields during the boom?

A

Problems of poor drainage were solved by the manufacture of clay pipes

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4
Q

Why was there an increase in demand for food?

A

Population growth, rising prosperity, general rise in wages.

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5
Q

How was the development of railways beneficial to farming?

A

Food could be transported quickly to growing towns, where there was an increasing market for fresh produce.

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6
Q

Between what years was there an exceptional run of high yielding harvests?

A

1850-1873

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7
Q

How much home consumption of wheat were farmers producing by the early 1870s?

A

50%

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8
Q

How much home consumption of meat were farmers producing by the early 1870s?

A

90%

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9
Q

Why were farmers able to live comfortably during the boom?

A

The rising prices of produce led to the expansion of farmhouses.

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10
Q

What happened to the weather after 1873?

A

Wet, cold summers and poor harvests.

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11
Q

How did the poor weather after 1873 impact farming?

A

Caused a severe depression, particularly in arable.

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12
Q

What is arable?

A

Land fit or used for growing crops.

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13
Q

By 1886, how much wheat consumed in Britain was imported from the USA?

A

2/3

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14
Q

The development of c______ meant that meat could be imported from Argentina and Uraguay in tins

A

Canning

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15
Q

Developments in methods of refrigeration meant that…

A

Perishable goods from Australia and New Zealand could be imported.

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16
Q

Why did many farmers move to dairy farming during the agricultural decline?

A

It was not easily imported and could be transported quickly using railways.

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17
Q

Why was Britain being the first industrial nation important for prosperity?

A

Outstripped other countries in establishing markets at home and abroad for its range of goods.

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18
Q

What did Britain control which allowed travel to and from its colonies?

A

Vital sea routes

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19
Q

What natural resources did Britain have a plentiful supply of?

A

Coal and iron ore

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20
Q

What was the population of Britain in 1851?

21
Q

What was the population of Britain in 1881?

22
Q

What did Britain’s increasing population mean for the economic boom?

A

Provided a large workforce and an expanding home market.

23
Q

By what year had railways lined every major town and sea port in Britain?

24
Q

How much money was Britain making from coal exports in 1851?

A

£2.3 million

25
How much money was Britain making from coal exports in 1875?
£8.8 million
26
What were many iron rail tracks replaced by between 1860-1870?
Steel rail tracks
27
What did precision engineering lead to?
The production of more stock and locomotives, and the development of prosperous railway towns such as Crewe.
28
In 1875, how many passengers were carried by train?
490 million
29
What year did the Suez Canal open, and which countries did it connect to?
1869 - connected to India, China, Australia.
30
Which industry accounted for 2/3 of Britain's exports in 1851?
Textile industry
31
What were Britain's five staple industries?
Coal, Iron/Steel, Engineering, Shipbuilding, Textiles.
32
By what percentage was Britain's economy growing each year thanks to trade?
2-3%
33
How did international trade help Britain's relationships with other countries?
The dependence of nation upon nation promoted peace.
34
What were Britain's two major rivals (USA and Prussia) occupied with during the boom?
The American Civil War and the German Unification Wars.
35
What policy allowed individual entrepreneurs and businessmen to build up fortunes?
Free Trade
36
Which countries had stronger home markets than Britain by the 1870s?
USA and Germany
37
When did Germany introduce trade tariffs?
1879
38
By the 1880s, what had Britain fallen behind in?
The latest technology and modern machinery.
39
What did the decline of the railway boom mean for the demand in steel?
Demand for steel decreased, with a decline in manufacturing.
40
During the decline, which industry was still bringing wealth?
Shipbuilding (e.g Tyneside AND Clydeside)
41
Why were the USA and Germany rapidly developing?
Political stability, population expansion, natural resources.
42
USA and Germany were able to exploit what resource better than Britain?
Steel
43
How many years behind was Britain when it came to technical colleges during the decline?
10
44
Britain bought what percentage of the world's meat exports during the decline?
50%
45
How much of the total number of ships was represented by the British merchant fleet?
1/3
46
How did Britain's balance of payments remain afloat during the decline?
Invisible exports and imports
47
What are invisible exports and imports?
Services and things that can't be physically seen such as tourism
48
London was still the world's main centre of what during the decline?
International banking, commerce and insurance.