English Challenge & Transformation- The Economy 1851-1873

What were the UKs staple industries in the 19th century?

Coal, iron/steel, shipbuilding, engineering/railways, textiles

What led to the growth of the coal industry?

Iron production required coke, a fuel derived from coal. New technology (transport, machines) was steam powered using coal

How did coal output change from 1850 to 1875?

Coal output increased from 50 million tons in 1850 to 130 million tons in 1875

How much coal did the iron industry purchase in 1870?

1/3 of coal produced

What led to increased demand for iron?

The engineering industry

How did iron production change from 1855 to 1875

Iron production increased from 9 million tons in 1855 to 15 million tons in 1875

When was the Suez Canal opened?

1869

When was the first underground railway opened? (Metropolitan)

1863

How much of the UKs exports were textiles in 1851?

2/3

When was Nasmyth's steam hammer invented?

1844

What led to increased demand for ships?

Increased world trade

What were the factors in the UK's economic growth (3% per annum)

Staple industries (industrialisation), geography, technological improvements, the global export economy, the empire, government policy

How much did guano imports increase?

2,000 to 300,000 tonnes in 6 years

What technology was used in agriculture?

Seed drill, steam plough, drainage, guano

What value of loans was given to farmers for drainage?

£12 million with 7% return

What was the size of the average farm?

111 acres, high farming suited farms of 300 acres

How many farms had 300 acres or above?

1/3

How much of world trade went through British ports?

25%-- British ports were central to world trade

What % of exports in 1851-1873 went to the Empire?

40%-- not a very healthy practise in the long-term

When did cheap imports begin to come about?

1873-- new economic era begins where the UK has to deal with foreign competition against domestic goods

What technological progress occurred in the realm of steel and in the realm of iron (1851-1873)?

Steel: Bessaimer process

Iron: Nasmyth's steam hammers

In 1851, what percentage of world manufacturing was produced by the UK?

41%

In 1851, what % of world manufacturing was produced by the US and Germany compared to Britain's 41%?

US: 3%

Germany: 19%

What trade policy dominated the mid-Victorian period?

Free trade

Which agricultural practises were associated with high farming?

Mixed farming (crop and meat), technology like drainage, seed drill, fertilisers (guano), steam ploughs -- these increase agricultural production/productivity

What % of the UK's consumed meat and wheat was domestically farmed?

90% of meat

50% of wheat

During 1850-1870, by how many times did coal production grow?

Nearly tripled to 130million tons

Did the industry of textiles benefit from technology?

No, and it still thrived as a staple industry

What fraction of GB exports were made up by textiles?

2/3

By 1875, what had iron production doubled to due to the steam hammer?

15million tonnes