trade and commerce between the wars

• what 2 phases did Britain go through in the inter-war period?

  • 1920s, Britain tried to recreate old economic system that existed before 1914 (no special preference), returning the gold standard in 1925 to stabilise international trade.
  • aftermath of great depression, greater emphasis placed on importance of empire for British commerce so imports from empire increased (forced to abandon gold standard in 1931 but trade with empire in sterling proves great asset)