Project Outline[]
The objective is to get the statistical figures that explain the growth of international trade from 1750 to 1850 or 1900. Main interest is in figures of Britain and secondly for USA
Research Information[]
Overseas Trade in Britain – 1700 to 1800[]
Source:
Overseas Trade in USA - 1700 to 1850[]
Source:
Source: http://www2.census.gov/prod2/statcomp/documents/CT1970p2-08.pdf (pg 29)
Related Information[]
1
Source:
http://en.wikipedia.org/wiki/Economic_history_of_Great_Britain#Second_Industrial_Revolution
2
Source: http://www.nber.org/chapters/c1307.pdf
3. British Trade balance in wheat:
Source : missed the source link , but I have the downloaded file.
4. Figure (below) 2.1 shows the price of English-produced nonfarm items relative to the price of farm output, and the price of English exports relative to imports. Export prices declined even more relative to import prices.
Source: http://www.econ.ucdavis.edu/faculty/gclark/papers/Britgreat2006.pdf
5. British Export. Trend Growth Rates obtained using HPF
Source: http://mpra.ub.uni-muenchen.de/6205/1/MPRA_paper_6205.pdf
6. Key Economic Events in Britain From 1700 to 1801
| Date | Event |
|---|---|
| 1700 | Exports as %age of national output - 8.4%. Agriculture output (1815 prices) - £40 million. |
| 1706 | Act of Bankruptcy passed. |
| 1707 | Union of Scotland and England. |
| 1708 | English banks limited to small-scale partnerships. |
| 1714 | Accession of George I. |
| 1717 | Britain switches to Gold Standard. |
| 1720 | Note issue by Bank of England exceeds total of all goldsmith bankers Bubble Act. |
| 1721 – 1723 | South Sea Bubble Affair - unimportant in itself, the speculation involved in this Bubble is important for the long-lasting hostility it evoked towards the dealing in shares of companies. |
| 1732 | Act of Bankruptcy made permanent. |
| 1734 | Barnards Act prohibits dealings in options and forward contracts by stockbrokers on the London exchange. |
| 1736 – 1799 | 125 Municipal Improvement Acts passed. |
| 1750 | Manufactures as % of exports - 75.4%. Agricultural Output (1815 prices) - £59 million. |
| 1751 | Creation of Three Percent Consols. |
| 1752 | Adoption of Gregorian Calendar. |
| 1760 | Exports as a %age GNP - 14.6%. Accession of George III. |
| 1765 | American Stamp Act (repealed 1766). |
| 1770s | Canal links between major rivers begin to be established. |
| 1772 | Over 500 turnpike trusts established - turnpikes were monopolies granted by parliament for the running of private highways. |
| 1776 | United Stated of America declares Independence. |
| 1780 | Exports as a %age GNP - 9.4%. |
| 1780 – 1787 | Number of cotton mills increases eightfold. |
| 1783 | Recognition of American Independence. |
| 1784 | East India Company establishes Board of Control. |
| 1789 – 1815 | French Revolutionary and Napoleonic Wars. |
| 1790s | Number of hours to spin 100lb of cotton falls to 300. Approximately 2500 steam engines in use. Development of gas lighting. |
| 1795 | Speenhamland system of Poor Relief introduced - part of the Poor Law introduced in 1790s. Not important in itself, but has come to be recognised as generous system of Poor Relief. |
| 1796 | Introduction of Smallpox Vaccine. |
| 1797 | Britain leaves Gold Standard |
| 1798 | Introduction of Income tax. Malthus' Essay on Population published. |
| 1799 – 1800 | Combination Acts suppressing Trade Unions. |
| 1800s | Average family income (1801-03) - £92. Agricultural Output in 1800 (1815 prices) - £88 million. Exports as a %age of GNP in 1801 - 15.7%. Manufactures as a %age of exports in 1800 - 87.2%. |
| 1801 | Union with Ireland. First Census of population. |