Economic Developments 1886-1914

?
  • Created by: evekav
  • Created on: 04-03-22 12:48
When were there marked cyclical downturns in the economy?
1873-79
1882-86
1890-96
1 of 36
What did Salisbury's government set up?
a Royal Commission - to enquire into the Depression of Industry and Trade
2 of 36
What did the majority of the report conclude?
Agricultural prices had been falling since 1873 and it was continuing.
3 of 36
What was the situation with profits and unemployment in 1886?
Unemployment reached a peak of 10%
Employers had to pay off their workforce
4 of 36
Between 1873 and 1896, what was the % drop in price levels of commodities?
30-40
5 of 36
By 1900, what % of foodstuff did Britain import?
50
6 of 36
What happened with prices in the 1890s?
Prices picked up and the late 1890s saw a return to economic prosperity and a period of affluence.
7 of 36
What was industry like between 1886 and 1914?
Traditional industries were expanding (more slowly)
8 of 36
What were Britain's problems in industry result from?
Too slow to change to respond to foreign competition
Fallen behind in the latest technology
9 of 36
Which countries forged ahead in steel production?
USA
Germany
10 of 36
Which industry boomed between 1896 and 1914?
Cotton - new factories built
11 of 36
Where was criticism levelled for not making adequate investments?
the Government
12 of 36
How were the problems in agriculture increased?
Development in the canning process in the 1880s
Methods of refrigeration
13 of 36
By 1899, what % of meat came from abroad?
40
14 of 36
What areas were hit hardest from the problems in agriculture?
Wheat and cereal counties
15 of 36
What were the result of the agricultural problems?
Farmers went bankrupt
Many emigrated to the USA and Canada
16 of 36
What alternative to farming met with great success?
Market gardening
17 of 36
What were the staple industries?
Coal
Iron and steel
Textiles
Shipbuilding
18 of 36
What areas did technical innovation open?
Electrical engineering
Motor industry
Bicycles
Aluminium
Rubber and artificial silk
19 of 36
What smaller industries developed?
Boot and shoe manufacturing
Chocolate
Soap
Tobacco and beer
20 of 36
What was Britain dependent on to maintain its economic supremacy?
Export trade
21 of 36
What was the most crucial change in the economy?
Global economic expansion
22 of 36
What did the Royal Commission of Trade report note?
Britain's manufacturing supremacy was being challenged by 'foreigners'.
23 of 36
Who were Britain's main opponents?
USA and Germany
24 of 36
What factors explained the rapid development of the USA and Germany?
*Political stability
*Population expansion
*Abundance of natural resources
*Improved education in Germany
25 of 36
What did Britain dominate in despite competition?
Shipbuilding
26 of 36
What was Britain's balance of payments like?
Remained in surplus
27 of 36
What was Britain's balance of payments due to?
Its continuing dominance in world shipping
28 of 36
What was Britain's economy being cushioned from?
The failure of exports to pay for imports.
29 of 36
When did Germany and the USA introduce tariffs?
Germany - 1879
USA - 1890
30 of 36
What ideas did the Fair Trade League put forward?
Moderate demands for restructuring of Britain's trade policy along more protectionist lines.
31 of 36
What did Joseph Chamberlain believe about tariff reform?
He believed it should be established with the wider aim of establishing an imperial federation.
32 of 36
What was the issue of tariff reform a cause of?
Balfour's resignation
33 of 36
What had the Budget of 1902 introduced a duty on?
A duty of one shilling on imported wheat.
34 of 36
What did Chamberlain's schemes of tariff reforms do?
Split Balfour's conservative government and Chamberlain eventually resigned in September 1903.
35 of 36
When Chamberlain resigned, what did he set up?
A Tariff Reform League
36 of 36

Other cards in this set

Card 2

Front

What did Salisbury's government set up?

Back

a Royal Commission - to enquire into the Depression of Industry and Trade

Card 3

Front

What did the majority of the report conclude?

Back

Preview of the front of card 3

Card 4

Front

What was the situation with profits and unemployment in 1886?

Back

Preview of the front of card 4

Card 5

Front

Between 1873 and 1896, what was the % drop in price levels of commodities?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar History resources:

See all History resources »See all Challenge and Transformation: Britain c1851-1964 resources »