Growth of Empire
Agricultural productivity, proto-industrialisation, the growth of manufacturing and new mineral technologies, along with the arrival of factories, had helped the economy to industrialise. Dual occupations had largely been superseded by specialised, regular working conditions.
Trade and colonisation had also proceeded apace. In 1700 most foreign commerce, by volume and value, was still conducted with Europe, but during the 18th century British overseas trade became 'Americanised'. By 1797-8, North America and the West Indies received 57 per cent of British exports, and supplied 32 per cent of imports.
'...the British became the largest and most efficient carriers of slaves to the New World...'
After the Royal African Company's monopoly was rescinded in 1698, the British became the largest and most efficient carriers of slaves to the New World. Private merchant houses provided the capital for this business activity, and Jamaica, the largest British slave colony, was also the wealthiest colony in the British Empire.
By 1775 Britain possessed far more land and people in the Americas than either the Dutch or the French - who were the two main northern European rivals for international power and prestige. The East India Company's trade also still flourished at this time, and greater settlement by the British in Bengal occurred after c.1765.
The loss of the thirteen mainland American colonies in the War of Independence was a major blow to British imperial strength, but Britain recovered swiftly from this disaster, and acquired additional territories during the long war years with France from 1793 to 1815. The new colonies included Trinidad, Tobago, St Lucia, Guyana, the Cape Colony, Mauritius and Ceylon. Various Indian states were also subjugated.
By 1815, Britain possessed a global empire that was hugely impressive in scale, and stronger in both the Atlantic and Indian Oceans, and around their shores, than that of any other European state. All of this had occurred within basically the same protectionist trade network as in 1688: free trade, much discussed by Adam Smith and Josiah Tucker, had failed yet to make much inroad into British economic policies.
Published: 2001-05-01
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