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Growth of the Economy and the slave trade - Coggle Diagram
Growth of the Economy and the slave trade
Trade
The Royal Navy grew during the period of conflict for control of the colonies. Once Britain had grown to dominate the Caribbean, the Navy was still needed to protect these colonies and British shipping.
the growth in the salve trade made for a growth in shipping
A network of trading links between Europe, Africa and the Americas developed :
the most well know trade route was the triangular trade route
guns and other goods were taken to africa and exchanged for slaves
slaves were transported on the 'Middle Passage' across the Atlantic to sell in the West Indies and North America
cargoes of sugar, tobacco and other commodities were transported to Britain for sale
Navigation acts
These stated that all commodity trade should take place in British ships, manned by British seamen, trading between British ports and those within the Empire.
the Molasses Act 1733 banned the import of foreign sugar to North America
The Direct Export act 1739 allowed British planters to ship goods directly to europe
the growth in the salve trade made for a growth in shipping
manufacturing
after 1750 cotton production emerged as a key new industry as it was easier for machinery to press cotton than wool
the industrial revolution began around cotton in and around Manchester.
industrial revolution features
Products were made in factories instead of at home
Workers used machines instead of working by hand
The machines were driven by water or steam power
One worker could produce much more each day: eg a cotton spinner could spin 200 times as much in 1800 compared to 1700
Cotton became Britain's greatest export industry
the growth of ports
1700- Bristol, Liverpool and Glasgow are small ports
1800 - Bristol, Liverpool and Glasgow are major cities
at the end of the 18th century Liverpool controlled 60% of the british slave trade
Glasgow made a lot of money through tobacco and Tobacco lords became known.
London traded in slaves pre 1700 & with the boom in slavery brought about the creation of development banking opportunities
industry
There was a growth in manufacturing industries that supplied slave traders
Profits from the slave trade were invested in the development of British industries
canals were built as a result
railways were built as a result
taxes at home were kept lower meaning investment increased
Britain gradually changed between 1700 and 1850 from being mainly an agricultural economy to an industrial one