British Economic History 1873-1914

What percentage of the worlds steam ships are from the UK in 1892?

80%

What percentage of the worlds steam ships are from the UK in 1911?

60%

Germany vs the UK's share of global manufacturing in 1880?

Ger: 9% vs UK: 23%

Germany vs the UK's share of global manufacturing in 1913?

Ger: 15% vs UK: 14%

What % of UK exports did textiles make up during the 1880s

41%

How was GB impacted by the industrialisation of other nations?

Other nations industrialising reduced the demand/reliance on British exports-- no longer the only workshop of the world

What % of UK exports did textiles make up from 1910-1913?

32% (slight decline from the earlier period)

What percentage of British output was manufacturing?

25%, by the end of the 19th century 30% more workers were employed in manufacturing

4 problems inhibiting British productivity

Family firms, lack of capital, more unions, lack of scientific innovation

Britain's lack of technological education: University of Munich 1872

In 1872 the Uni of Munich had more students than the whole of Britain

What percentage of wheat was domestic in 1900-1914

25%

What percentage of British agriculture was cattle/milk farming in 1911?

40%

How much did agricultural output decrease from 1851-1895

20%

Between 1875-1914 what fraction of a farmers rent was covered by his profit?

1/4

New UK companies from 1873-1914 (New/Light Industry)

ICI (Imperial Chemical Industries), Raleigh bikes, Liptons groceries, electricity, car industry

What % more capital intensive was the US than the UK?

90% more

The key problems to the UK economy from 1870-1914

Lack of development of technological advancement/education, family firms, low productivity, divergence between the industries of the City and industry

How much of GNP did the US and Ger invest at home?

12%

How much of GNP did the UK invest at home?

5-7%

How did contemporaries understand the problems of the British economy from 1870-1914? How do modern historians perceive it?

They thought that the UK was experiencing a Great Depression brought on by the 1873 banking crash in the US and Austria while Modern historians said it was due to changes in the global economy and domestic issues

What were two issues, apart from the 1873 Great Depression, explain the problems of the British economy 1873-1914?

Global decline in prices (world economy) and domestic issues

What word describes the decline in the economy from 1873-1914?

Incipient-- just emerging

In 1870, how many graduates in mathematical or scientific subjects were there?

19

In 1880, what was the UK's share of global manufacturing vs Germany's?

UK: 23% vs Germany: 8.5%

In 1913, what was the UK's share of global manufacturing vs Germany's?

UK: 13.6% vs Germany: 14.8%

Why was British economic decline unsurprising as the first nation to industrialise?

Other nations would catch up and industrialise, reducing demand for UK exports

How did US and Germany methods of industrial production differ from the UK?

Use of assembly lines and automation to make more effective use of unskilled labour

Which two staple industries failed to invest in machinery?

Cotton/Textiles did not invest in automated machinery and coal did not invest in machinery to extract coal

How did patents show that Germany/the US were more technological than the UK?

Germany overtook the UK in patents, suggesting that they were inventing more

Between 1873-1914, by what fraction did the price of grain fall?

It fell by 1/3 -- this leads to the end of arable farming in the UK

What kind of farmer saw some prosperity between 1873-1914?

Dairy farmers

In 1879, what was the status of British steel production compared to the rest of Europe?

The UK's steel production was equal to all of Europe's steel production

When did Germany surpass UK steel production?

1893

When did the US surpass UK steel production?

1886

What % of global chemical production was from the US and Germany?

60%

What % of global chemical production was from the UK?

11% (sad)

Who was the biggest producer of coal in 1914?

Still the UK-- not in complete decline

By 1914, ____% of meat and ___% of eggs are imported

40% meat, 30% eggs

The cost of shipping grain went from ____% its cost to 7.4% of its cost by ____

33%, 7.4% by 1910

By 1900, how many tonnes of US wheat is being imported to the UK?

1.8million tonnes

How many £ was British foreign investment in 1870 vs in 1914?

1870: £1200 million

1914: £4000 million

What was the % return on railway investment in the US vs in the UK?

8% return in the US vs 4% return in the UK-- why there was no much foreign and so little domestic investment

How much lower was British education spending as a % of GDP than US and Germany's education spending?

1/2 lower

Is British manufacturing still strong in the late-Victorian period?

YES-- still 30% of global exported manufactured goods-- don't overexaggerate it, only incipient decline

Did coal decline in 1873-1914 as a share of UK exports?

NO-- it expanded from 5% to 9.4% of exports

In 1913, what % of coal was mechanically cut?

Only 8%-- lack of investment

By 1911, what % of the British workforce was unionised?

19%

In 1900 how many tonnes of coal is being produced?

225million tonnes

What was evidence that contemporaries were concerned by economic decline?

The book 'Made in Germany' --complains that everything is made in Germany

What was the nature of British free trade?

Unilateral free trade-- when other nations adopted tariffs to protect their emergent steel industries

What proved that the 1873 Great Depression was not the main reason for the decline of British economy?

All nations experienced it, yet Germany and the US recovered stronger-- shows that domestic issues were the centre