| Pros
● Trading with Empire benefitted Britain. o From 1857-1890, 20% of British imports came from her Empire whilst Empire provided Britain a market for 30% of her exports. ● Britain developed infrastructure in her colonies. o London being financial centre of the world, around 40% of British foreign investment went to her colonies. Britain built railways, telegraph lines, developed roads and the general economy in her regions. o In India, miles of railway track grew from around 288 in 1857 → 20,000 miles of track in 1890. ● During depression of 1870s, Britain’s reliance on her Empire led to growth of trade with her colonies, which ultimately benefitted them. o Value of tea soared in India from £24,000 in 1854 → £2,429,000 in 1876. Cotton soared from over £1,500,000 in 1854 → £5,500,000 and over in 1876. ● Led to glorification of Empire in Britain with Colonial and Imperial Conferences and Exhibitions. |
Cons ● Didn’t always benefit natives in colonies. They were often underpaid, overworked and mistreated by British. ● Trade between colonies was prohibited and Britain dominated trading environment. o Colonial Conference of 1887 prohibited trade between colonies. ● Cecil Rhodes and Goldie benefitted Britain from trade with Empire. ● Trade with Britain wasn’t always helpful as many countries relied on protectionist tariffs to develop their own industries and economies. o Canada in 1850s and Australia in 1860s imposed tariffs against Britain.
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