Summary
Summary A* essay trade and commerce
- Course
- Institution
- Book
A* level essay on benefits/cons trade with empire
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
The British Empire, C
-
A* essay reasons for expansion in Africa - British empire
-
A* essay on strategic reasons for British empire expansion 1890-1914
Seller
Follow
examsuccesshelp
Reviews received
Content preview
Was trade with empire beneficial 1890-1914?Introduction: By 1870, Britain was at height of commercial and industrial power. Britain accounted for
1/2 of world’s trade in textiles and industrial goods. However, by 1914 there were doubts about the
cost of empire – whilst there some vital raw materials imported from empire and influential
investments, the trading value of non-empire countries was greater.
Trade – as a proportion of exports and imports Investment
Trade was partially significant as it was highly Dramatic investments into empire increased its
inconsistent. In India trade was plentiful – the economic value. Britain continued to plough
‘jewel of the crown’ took 20% of total British vast sums into overseas investments: Doubling
exports, worth almost £150 million, by 1914. The from £2 billion to £4 billion, 1900 – 1913. By
use of a common language and the fixed exchange 1914 Britain had invested twice as much as
rates to the sterling facilitated trade with Britain French and three times Germans overseas.
and its colonies because it was simpler – this This was incredibly influential as Britain was
increased the economic value of trade with empire. able to control investment and to
As well as showing unity amongst the colonies with prevent/control colonial industries thus
Britain, it allowed for an easier entry into foreign reducing international competition by
markets using the Sterling currency. In addition, saturating it with British finances. In addition,
Britain was also largely dependent on foodstuffs the discovery of diamonds near Kimberly in
and raw materials coming from empire highlighting 1867 triggered a diamond rush; Britain was able
economic significance. Raw materials from the to maintain its economic dominance in the
empire were seen to be a safe and stable supply. region with this new access to mineral wealth.
Britain imported vast quantities of wheat/beef from Due to the influence of key individuals such as
Canada and lamp/dairy from NZ. Britain’s Cecil Rhodes, trade value increased further as
manufacturing industry sourced raw materials from he established the British South Africa company
the empire e.g. cotton from Egypt, tea from Kenya (granted a charter in 1899) which resulted in
and India, and palm oil from Nigeria, mineral wealth the signing of treaties with local rulers to gain
from SA. Therefore, many British factors of mining rights. At the height of his own trading
production, essential for manufacturing, were empire, he controlled 90% of global diamond
sourced from empire, further reinforcing empire’s production. As put forward by the historians
trade significance. Peter J. Cain and A. G. Hopkins ‘Gentlemanly
capitalism’ is a theory of New Imperialism The
However, calls for free trade grew. The Imperial theory posits that British imperialism was driven
Federation League of 1884, which opened to by the business interests – therefore, empire’s
promote closer colonial ties, was disbanded in trade value to Britain increased due to
1893, reflecting a decreasing interest in Empire’s persistent capitalist efforts to gain personal
commercial importance. Britain began trading more wealth. There were also investment increases
with non-imperial world, e.g. USA. Most of food into East Africa such as the Ugandan Railway
imports (cheese, apple, fresh mutton) came from 1896 to help promote trade. The purpose was
non-imperial powers: only 10% came from Empire. to connect the coast with the fertile highlands
In 1894, Britain imported most of wheat from USA. bordering Lake Victoria and to consolidate
Therefore, empire’s importance in terms of Britain’s formal takeover of both the East Africa
supplying raw materials is overstated. There was Protectorate and Uganda. The railway would
questioning towards African expansion. In 1897, the allow for easier transportation of goods
whole of Tropical Africa formed 1.2% of British between colonies – essential for seemless
exports – therefore trade importance was highly trade.
inconsistent amongst empire showing its partial However, a lack of proper care and overseeing
value. by the British hindered economic efforts. The
Ugandan railway soon became known as the
Lunatic Line as there many difficulties
encountered during construction e.g. the
Kedong massacre (almost 500 labourers killed
by Masai tribesman). Similarly In India,
opportunities were flawed – there were fears
that excessive loans would lead to increased
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller examsuccesshelp. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.80. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60904 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now