Trade and Economy 1890-1914 Flashcards Preview

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Flashcards in Trade and Economy 1890-1914 Deck (39):
1

Quotes:

Rhodes called the Br Empire 'philanthropy plus 5 percent'
1902 Hobson aid it served the 'financial capialists'
1916 Lenin said it served the 'monopoly capitalists'
1993 Cain and Hopkins developed the idea of 'gentlemanly capitalists' in the City.

2

Administration in 1914

In terms of administartion in 1914, fewer than 6000 people were employed to run the whole Empire - with India taking up 3000 of these posts.

Best estimate as to the cost of running this administartion is 20p per head of the Br population.

3

Defence of Empire

It was the army that saw the real cost of the Empire:
- Indian army - 340,000 troops
- Royal Navy - to maintain its position as largest on the world was expensive
- Late Victorian period: UK spent 2x Germany and France and 3x USA, Russia and Austria Hungary on military.

Indians contributed 70% cost of the Indian army but nothing towards navy.

In 1912:
- Indians paid 7p towards cost of their defence
- Colonial subject paid 3p toward defence costs
- Br person paid £1.56 to national defence spending - 54p of this to imperial defence.

4

Areas where the Empire was the main food supplier:

The only areas where EMpire was the main food supplier was cheese, apples, potatoes and fresh mutton.
In contrast in 1894 Br imported 30.7 million hundred weight of wheat from the USA, 17.2 million from Russia and only 3.6 million from Canada.

5

Did expansion of Empire guarentee expansion of trade and riches?

No
In 1897 the whole of tropical Africa only took 1.2% of british exports.

6

By 1914 -extent of trade in India

35% of exports went to the Empire - and of this 20% went to India (representing about £150 million).

7

By 1914 -extent of trade with Canada

By 1914 Canada wa supplying over 10% of br's beef and 15% of its wheat flour.

8

What do critics say about the Br Empire being lazy?

While Br relied on rubber imports from S E Asia, the Fr and Russians had successfully created theor pwn synthesised rubber industries by 1910.
- some said the reliance on cheap labour from the imperial regions suppressed wages back home.

9

What was the general assumption in 1890?

The EMpire made Britain wealthy and more empire would make the country wealthier still.

10

India represented a particularly large market: how much of Britain's exports did it take?

It took about 20% of Britain's exports - worth almost £150 million by 1914

11

How much beef and wheat did Canada supply Britain with?

Upwards of 10% of Britain's Beef and 15% of its wheat flour by 1914.
Between 1900 and 1914, there was a 6 fold increase (to over 45,000 square miles) in Canadian land set aside for wheat production.

12

What year was the line built from Uganda to the sea at Mombassa?

1900

13

Examples of British breweries that competed for the colonial market?

Hodgson's of Essex and Phipps of Northampton.

14

How the Imperial Federation League exemplifies that the benefits of trade w the Empire were less significant than imagined?

The Imperial Federation League which was establishd in 1884 to promote colonial ties was disbanded in 1893 (less than a decade after its inception) partially reflecting a waning interest in the EMpire's colonial importance.

15

Facts to demonstrate British trade was growing with the non imperial world - particularly the USA:

In 1894, Br had imported 64 million hundredweight of wheat.
30.7 million from the USA, 17.2 million from Russia and only 3.6 million from Canada.

16

Only in which foodstuffs was the Empire Britain's main supplier?

Cheese, apples, potatoes, fresh mutton.
Other foodstuff came from elsewhere, with the Empire providing less than 10%.

17

What was the Empire's total trade in 1896 and how much of this was with countries of the Empire?

The Empire's total trade in 1896 was worth £745 million, but trade between the countries of the Empire only £183 million.

18

Despite the expansion of the Empire there had been....

No corresponding expansion of trade

19

Br exports in tropical Africa?

In 1897, the whole of Tropical Africa took only 1.2% of Br exports and over the ensuing years the colonies bought increasing amounts from foreign nations, rather than from Br.

20

What were the arguments of anti-imperialists?

- The Empire cost middle class people more than it benefiited them - they were supporting the cost of imperial defence in their taxes.
- The Empire was blamed for Br's failure to modernise its industry.
- Empire was holding back developments that would have helped raise livign standards for workers.
- Colonies blunted Br commercial enterprise and that the import of colonial food produce into br undermined domestic food production and served to depopulate countryside.
- Cheaper foreign labour in the colonies was depressing wages at home.

21

What happened whilst Britain was relying on rubber imports from Asia and Africa?

French, Russians and Germans had successfully started their own synthetic rubber production by 1910.

22

Who was John A Hobson?

An economist - wrote Imperialism (1902)
His ideas in Imperialism were formulated when he worked as a correspondent for the Manchester Guardian for SA during the Boer War.
He believed the mine owner had tricked the Br into fighting the Boers in order to preserve their own profits.
Critic of Empire who thought it benefitted rich capitalists only.

23

How much did Br investment increase between 1900 and 1914?

Br investment doubled from £2 billion to £4 billion between 1900 and 1913 - not all w Empire hower.

24

When and what did the Colonial Loans and Colonial Stocks Acts do?

In 1899 and 1900
Facilitated a number of infrsatructure projects including rail links into African interior from the ports of Lagos and Mombassa.
Such loans could be significant for the place in question: Forming 88% of Gold Coast finances in 1901, yet their effcet on the Br tax payer was limited - as estimated 29p/year between 1880 and 1914.

25

By how much did the terms of trade balance in Britain's favour between 1870 and 1914?

Around 10%
- Helped by Britain setting the standard for the international monetary system forcing other nations to mirrir by adopting teh gold standard.
By 1908 - only China, Persia and a handful of Central American colonies still used a 'silver standard'.
The gold standard became a symbol of br's economic strength.

26

For how long was Joseph Chamberlain Conservative Colonial Secretary?

1895-1903

27

When was the London Colonial Conference for leaders from Br and the self-governing white settler colonies?
What was discussed?
Why were C's ideas met with resistance?

1902
Imperial preference
Argued that Br's wealth had come from free trade and the wider international community rather than with a specifically imperial economy.

28

When did the "death knell of imperial preference" come?

The 1906 general election.
voters overwhelmingly favoured the Liberal Party's commitment to free trade.

29

Before the outbreak of war in 1914 what did colonies do?

Dominions imposed import tariffs as a means of asserting their national interests over any loyalities or ties with Br.
- Canada had made its own trading agreements with ge, Fr, It and Japan and a separate commercial union w America was regarded as a distinct possibility.
- In India, Br textiles and good boycotted and burned in streets as the swadeshi movement sought to undermine Raj after 1905.

30

What were the economic benefits for being the economic hub of the world?

1913-14 - 60% of transactions passing through the city were for transactions involving no Br party.

31

Non imperial investments:

60% of Colombia's railway network wa Br owned by the early 20th century.
- In Peru, the Peruvian Corporation (Br owned) administered not only the railways but also the guano production and certain utilities as per the 'Grace Contract' of 1890.
- Br owned Sao Paulo railway in Brazil - the most profitable railway in SA as it was the trunk route into Brazil's coffee growing heartland.
- By 1913, Br had invested £360 million in Argentina - as much as they has invested in India.

32

How many people emigrated from Br between 1815 and 1914?
And when were such trends increased?

16 million people - of whom at least 1/4 went to USA
- rest to the colonies
During recessions - 1901-1910 1.8 million Britons left home.

33

What did the 1891 Reformatory and Industrial Schools Act do?

It gave their governors the power to send 'delinquent' children to the colonies.

34

What did Dr Barnardo's do?

Paid for the passage of 100,000 orphans to Canada alone betwen 187- and 1930.

35

What did the british women's Emigration League do?

It was designed to send unmarried women abroad.

36

When the 2nd Boer War was fought how many colonial troops participated?

30,000 troops.
10,000 Australians
8,300 Canadians
6,500 Kiwis

37

How many imperial soldiers in WW1?

Total imperial soldiers, sailors and airmen - 8.5 million - 1.4m from India, 630k from Canada, 136k from SA, 129k from NZ
- NZ figure represents half the eligible men!!
Nyasaland contributed 2/3 of its adult male population.

38

In the African colonies how many soldiers and porters for WW1?

57k soldiers and 930k porters

39

By 1900 what was the largest single Egyptian employer?

Thomas Cook and Sons - tourism