Topic 5: Commerce and Trade

• In the third quarter of the 19th century, what proportion of British trade did the empire account for?

  20% of imports and 33% of exports.
• What changes to British shipping occurred in the late 19th century?

  • The development of the compound steam engine lead to production of steam ships that could trade with distant countries.
• How was British economic dominance slipping towards the end of the 19th century?

  • Britain accounted for around 25% of world production in 1883, compared to 33% in 1873.
• Why were the railways important for the dominions in the mid-to-late 19th century?

  • Railway spending was the largest single investment in all of the dominions.
  • This opened up the Canadian prairies and allowed Australia to export its wheat and wool.
• How did the building of canals help Canada after 1867?

  • This connected, and resolved height differences around the great lakes and St Lawrence, boosting potential trade.
  • The Welland Canal helped to resolve height differences between lakes Eyrie and Ontario.
• How did the value of cotton imports change between 1854 and 1860?

  • It increased from £1642000 to £5875000.
• How did the value of tea imports change between 1854 and 1860?

  • It increased one-hundred fold from £24000 to £2429000
• How many English skilled labourers travelled to Transvaal during the 1886 gold rush?

  • Over 30,000
  • This occurred at the same time as Cornish tin mines closing, pushing the move.
• What metal was Australia a key exporter of in the 1860s?

  Australia produced £124 million worth of gold in Victoria by 1866. This was a third of global production.
• How did Indian industry compare to their British counterparts?

  • Indian mills could not produce textiles at the same low price as Britain, so had to shut down.
• What are some key examples of chartered companies, and what did these specialise in?

  1. The Royal Niger Company established 1886 traded in palm oil and coffee and had governing rights over the region.
  2. The North Borneo Company received a charter in 1866 and traded coal, iron and tobacco amongst other goods. It also served a strategic purpose as the midpoint between India and Hong Kong.
  3. Rhodes' British South Africa Company traded in gold and diamonds.
• What was the role of the Imperial Federation League?

  • It was created in 1884, and aimed to bring closer relations between Britain and its colonial possessions.
  • They met at Victoria's Golden Jubilee in 1887 and talked about the future.
• Why did trade with the colonies become more important in the late 1800s?

  • European countries began introducing tariffs with France doing so in 1881 and Germany in 1879.
• By how much did the Suez canal shorten routes to India?

  4500 miles.
• When was the British South Africa Company Established?

  1889