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Changing nature of trade

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Written by a student who has achieved 3 A*s in 'A - Levels' in Mathematics, Economics and History. These notes provide content in a concise manner which have every detail required to achieve top grades in History A - Level. These notes follow the specification with every small part of it covered. N...

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  • January 4, 2020
  • May 8, 2020
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  • 2018/2019
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By: wazzupjack • 5 months ago

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By: deeqa030505 • 1 year ago

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The changing nature and extent of Trade 1763-1914

How Important was government policy in shaping changes to patterns of trade in 1763-
1914?
 Britain emerged from 7YW victorious but indebted
o Gov debt was 157% of GDP in 1763 – rising to 260% in 1821
o Britain struggled to pay for American War of Independence, Napoleonic Wars
and French Revolutionary War
o Strategies of fighting armies and blockade of French Ports was effective but
expensive
 Trade through this period kept the country ‘solvent’
o However, cost of maintaining land and sea forces was a recurring theme
behind economic policy
 Government policy was initially protectionist (increase tax on imports to protect
domestic producers) and Mercantilist (Export value exceeds import value) and these
were designed to gain trade advantages with partners
o These policies alienated colonies – pushed Ireland towards rebellion
 Free trade was adopted over time where government tried to increase volume of
trade and used coercion to make other countries follow
 Standardisation of trade suited British merchants – their manufactured goods were
far cheaper than those of their rivals
o British trade dominance extended beyond empire – to China and South
America
 This model was challenged by European powers – seeking increased geopolitical
influence (Power comes from territorial dominance of strategic areas)
o Rather than being developed around trade – colonies were seen as valuable –
leading to the colonisation of the weakest as seen by the Scramble for Africa
 Britain gained power to prevent others doing it
o However, powers with smallest colonial empires and infrastructure
developed fastest during this period
o They overtook Britain in industrial production and military strength
o USA, Germany and Japan

The abolition of the Slave Trade 1807
Challenges to abolishing the slave trade
 British involvement with slave trade began in the 16th Century and had not changed
significantly by 18th century
 Slavers’ vessels came from English ports with
textiles, alcohol and firearms for slaves at West
African ports
 Slaves were shipped in appalling conditions across
Middle passage (Crossing of Atlantic between
Africa and West Indies) to Americas
 The survivors were destined for the Caribbean
where they would be resold and shipped to West
Indies, Spanish America or New India

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