S3-Trade and Commerce

• What was the primary motive behind the British Empire?

  Profit
• What essential raw materials did colonies provide to Britain?

  Gold, diamonds, tea, ivory, wool
• What fraction of the world's miners worked on British imperial lands?

  One-third
• What was the trade policy before the 19th century?

  Colonies traded exclusively with Britain
• Who influenced the shift to Free Trade in the mid-19th century?

  Adam Smith
• How did Britain's dominance in trade affect commerce?

  Allowed for unrestricted commerce
• What were the Opium Wars with China about?

  Forced trade agreements
• What impact did the American Civil War have on trade?

  Non-colonial trade was unstable
• By the late 19th century, what percentage of Britain's imports came from colonies?

  20%
• What percentage of British exports was absorbed by the Empire?

  33%
• What became the world’s financial hub by the late 19th century?

  The City of London
• What was the dominant currency in global trade?

  Sterling
• What infrastructure developments improved trade efficiency?

  Railways, ports, steamships, telegraphs
• What were Clipper Ships used for?

  High-profit goods like tea and spices
• What replaced Clipper Ships after 1869?

  Steamships
• How did steamships improve travel time to West Africa?

  Reduced to less than 3 weeks
• What was the role of railways in British imperialism?

  Key to economic expansion and control
• Which country’s railways linked prairies to markets?

  Canada
• What did railways facilitate in Australia?

  Wheat and wool exports
• What was the purpose of canals built in colonies?

  Improve trade routes
• What large-scale canal projects occurred in India post-1857?

  Improved trade routes
• What did the Welland Canal facilitate in Canada?

  Navigation between Lakes Erie and Ontario
• What was the primary economic activity in most colonies?

  Agriculture
• What did tropical colonies produce?

  Sugar, coffee, cocoa, palm oil
• How did the Indian tea industry change post-1857?

  Tea plantations expanded significantly
• What attracted British miners to South Africa in 1886?

  Witwatersrand gold rush
• What was the production of gold in Australia during the 1851-60s?

  One-third of the world’s gold
• What was the debate regarding industrialization in colonies?

  Pro-Empire vs. Anti-Empire perspectives
• What role did Chartered Companies play before 1857?

  Controlled trade and administered territories
• What happened to the East India Company after the 1857 Mutiny?

  Dissolved
• Why were Chartered Companies revived in the 1870s-1890s?

  To expand influence at minimal cost
• What did the North Borneo Trading Company manage?

  Coal, iron, copper deposits
• What did the Royal Niger Company control?

  Trade along Niger and Benue Rivers
• What was the purpose of the Imperial Federation League?

  Promoted colonial unity
• What were the benefits and drawbacks of British economic dominance?

  Benefits:

  • Provided technology and capital
  • Access to global trade

  
  

  Drawbacks:

  • Stifled local industries
  • Led to economic dependency
• How did trade and commerce contribute to British imperial expansion?

  Central to economic model and colonial dependency
• What role did Chartered Companies play in extending control?

  Minimized costs while expanding influence