How significant was the impact of the French war on the British economy?
- Created by: Bigboi_Butterz
- Created on: 18-05-18 09:36
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- How significant was the impact of the French war on the British economy?
- The Impact of Change
- Years following French Revolution social order became a priority. During French wars government became more restrictive, especially to the poor.
- Government outlawed trade unions, suppressed Luddites, protest against industrial change were offence against private property
- Wars were long so money raising measures introduced, population growth grew with food production as well as demands of war
- The Impact on Trade
- Britain imposed blockades stopping neutral boats and French ports, Britain could not defeat France on land, but could use economic weaponry (funding coalition) (stopping shipping to French allied countries)
- British economy survived and grew despite cost of war. Navy allowed British trade to function, a loyalty other countries did not have, and hence were forced to join economics pacts with the French, however the Continental System failed and smugglers still transported goods
- British trade measures against the French caused a war with the US, Americans angry at British searching of ships. USA banned trade with Britain that hurt US more, this led to tension and a distraction war for 2 years
- Trade, Wages and the impact on the poor
- Trade continued with Europe despite economic warfare, British exports rose during war (almost doubled in Europe)
- France allowed legal imports of some British goods, dependant on cheap colonial markets, new markets appeared.
- Financial squeeze was on private spending an household incomes. Wages stagnated, prices increased (especially of bread). 1/6 of families had men in armed forces, hard for families who relied on them or those who did not come back.
- Relief systems were made to support those whose wages could not afford food
- The War-debt
- Seven years war cost £160 million, French war cost £1,600 million, this funded Navy, British army and allies
- Much of Britains spending was financed by borrowing - war funded on credit. This worked due to Britains manufacturing and baking systems, government refusal for minimum wage, massive borrowing.
- Financers helped arange loads etc. Government responded to fears of debt by raising taxes introducing income tax. To raise money gov offered stocks, steady market was made, more banks too
- The effect of war on industry
- Industrial revolution began, new machinery changed industry, boom in cotton manufacturing, wars stimulated industry, textiles smuggled, defied laws and sold to France, mass production of ships
- Iron making boomed due to demand for cannons and other weapons, Ironworks went from 500 tons to 100,000. Populations of industrial cities grew by 20x, ports were kept busy, new infrastructure such as canals to transport heavy goods, roads improved and better maintained
- Steam engine developed, steam pumping machines, steam locomotives, government aided wartime constructions, telegraph defence towers
- The Impact of New Ideas
- Changes produced fear and uncertainty, 'revolutionary sympathisers'. Machine breaking was common among skilled workers, traditional craft disappeared
- Government cracked down on Luddites, it spread, due to industrial landscape. Government sent troops, owners hired guards, breaking machines became capital offences, people hanged
- Ideals of French revolution spread to factory owners, community factories made (schools housing), affected law too (abolition of slave trade)
- Effect of war on farming
- Agarian revolution, Britain led modern nations in farming. Output per worker was 50% higher than other European countries. Farmers benefited from high wartime prices
- Corn Laws protected home farmers from cheap foreign imports. This caused debate with free market / protection.
- Farming was more efficient, better use of land, crop rotations used, selective breeding used better yields, new machinery required less animals and man power, war increased demand and initiative.
- Enclosure of farmland; gov made farms larger, small farms absorbed, resentment among poor, but more production, less wetlands, landowners could claim for enclosure by increased demand, lack of manpower
- Britain had to produce more due to reduction in imports and restrictions on trade. Price of wheat rose and bread too, was not helped by low harvest. Colonial imports stayed, shortages in timber
- The Impact of Change
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