Trade and commerce

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  • Topic 3
    • Infrastructure of trade
      • Railways
        • Linked interior areas to the sea
        • Resources reached places faster
        • Ensured control as it was fast transport
        • Helped boost British the economy as trade was more efficient
      • Ships
        • Clipper ships were introduced
        • Steamships
        • Reached their highest state of efficency in 1860
        • iron hulled ships
      • Rivers and canals
        • Used by explorers to reach new areas
        • Mainly used for quicker acssess to the coast
    • Products of trade & commerce
      • Agriculture
        • Many colonies already produced most of their wealth through farming
        • Boosted British economy as they improved irrigation and transport of crops
        • They could grow exotic crops to sell back in Britain for a lot of money
      • Mining
        • They found gold and diamond in Africa and continued to exploit the land
        • New south wales produced £25 million in gold
    • Role of chartered companies
      • Normal organizers of trade in the colonies of mid 1850's
      • European and American competition was growing so Britain decided to grow their chartered companies
      • 1881 North Borneo trading company, Royal Nigeria company, Imperial British East Africa Company and British South Africa Company were given charters

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