The British economy 1851-86
Key dates
1827: John Neilson’s hot blast is created
1844: James Nasmyth’s team hammer is invented
1851: the great exhibition 6 million visitors and shown in the crystal
palace, other countries products were included to emphasise British free
trade. It led to a rapid increase in export orders and growth of overseas
markets.
1851: textile industry was 2/3 of Britain’s exports
1860: 9069 miles of track carried 153 million passengers and 88 million
tons of freight earning £12.2 million in sales
1863: the first London underground line was opened the metropolitan
1869: the Suez Canal opens
1870: the guano industry was worth £8 million a year
1870: the animal feedstuffs industry was worth £5 million a year
Early 1870: farmers were producing 50% of home wheat consumption and
90% of meat
1850-73: the golden age of agriculture
1873: there were signs of a reduction in the growth of the British economy
especially when compared to the USA and Germany
1875: every major town and seaport was linked by rail and iron ore
production was 15 million tons
1875: 14,510 miles of track carried 490 million passengers and £24.3
million from ticket sales
1776: Adam Smith publishes the wealth of nations which argues for free
trade
1879: Germany introduce tariffs
1881: Britain’s population was 35 million
1881: the fair-trade league was set up
, 1886: 2/3 of wheat consumed in Britain was imported
Key information
Trade in Britain
40% of manufactured goods came from Britain and 25% of trade
passed through British ports
Many of the traded goods went to the United States to develop their
industry
Britain became the “workshop of the world”
Laissez faire approach facilitated free trade
Agriculture, trade and industry
High farming methods included growing wheat and root crops as
well as stocking cattle, sheep and pigs the surplus stock fed the
animals
The problems of poor drainage were met by manufacturing clay
pipes and the government gave loan schemes to invest in drainage
systems
The introduction of farming machinery was slow due to the ready
availability of cheap labour
There was some manufacturing equipment used such as the better
ploughs and seed drops as well as improved efficiency in crop
rotation
The growth in population as well as the increase in railway
connections had huge benefits for farming
Most of this was due to the lack of a string of good harvests
between 1850-73
The development of trade
Britain's staple industries were coal, iron, steel, shipbuilding,
engineering and textiles. These industries produced an economic
growth of about 2-3% per year
The output in these industries was far beyond the home
consumption which led to a growing demand for British exports, the
profits raised provided capital for investment both overseas an at
home
Key dates
1827: John Neilson’s hot blast is created
1844: James Nasmyth’s team hammer is invented
1851: the great exhibition 6 million visitors and shown in the crystal
palace, other countries products were included to emphasise British free
trade. It led to a rapid increase in export orders and growth of overseas
markets.
1851: textile industry was 2/3 of Britain’s exports
1860: 9069 miles of track carried 153 million passengers and 88 million
tons of freight earning £12.2 million in sales
1863: the first London underground line was opened the metropolitan
1869: the Suez Canal opens
1870: the guano industry was worth £8 million a year
1870: the animal feedstuffs industry was worth £5 million a year
Early 1870: farmers were producing 50% of home wheat consumption and
90% of meat
1850-73: the golden age of agriculture
1873: there were signs of a reduction in the growth of the British economy
especially when compared to the USA and Germany
1875: every major town and seaport was linked by rail and iron ore
production was 15 million tons
1875: 14,510 miles of track carried 490 million passengers and £24.3
million from ticket sales
1776: Adam Smith publishes the wealth of nations which argues for free
trade
1879: Germany introduce tariffs
1881: Britain’s population was 35 million
1881: the fair-trade league was set up
, 1886: 2/3 of wheat consumed in Britain was imported
Key information
Trade in Britain
40% of manufactured goods came from Britain and 25% of trade
passed through British ports
Many of the traded goods went to the United States to develop their
industry
Britain became the “workshop of the world”
Laissez faire approach facilitated free trade
Agriculture, trade and industry
High farming methods included growing wheat and root crops as
well as stocking cattle, sheep and pigs the surplus stock fed the
animals
The problems of poor drainage were met by manufacturing clay
pipes and the government gave loan schemes to invest in drainage
systems
The introduction of farming machinery was slow due to the ready
availability of cheap labour
There was some manufacturing equipment used such as the better
ploughs and seed drops as well as improved efficiency in crop
rotation
The growth in population as well as the increase in railway
connections had huge benefits for farming
Most of this was due to the lack of a string of good harvests
between 1850-73
The development of trade
Britain's staple industries were coal, iron, steel, shipbuilding,
engineering and textiles. These industries produced an economic
growth of about 2-3% per year
The output in these industries was far beyond the home
consumption which led to a growing demand for British exports, the
profits raised provided capital for investment both overseas an at
home
