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The slave trade was important in the development of the British economy - Scottish Highers History - Question 8 - 2019
Question 8
The slave trade was important in the development of the British economy. How valid is this view?
Worked Solution & Example Answer:The slave trade was important in the development of the British economy - Scottish Highers History - Question 8 - 2019
Step 1
Contextual Analysis
Answer
The slave trade was pivotal for the development of the British economy in the 18th century. Ports such as Bristol and Liverpool not only facilitated the trade but also fostered financial networks that underpinned British manufacturing and industry. The profits generated from the slave trade played a significant role in funding the establishment of merchant banks and investments in various sectors, including agriculture and industry.
Step 2
Profits from Tropical Crops
Answer
The demand for luxury goods like sugar and coffee was enhanced by the slave trade. British merchants gained substantial profits from these products, which significantly contributed to the economy by stimulating demand for related industries. This created a cycle where agriculture benefiting from slave labor led to increased trade profits.
Step 3
Manufacturing Development
Answer
The slave trade contributed to the growth of British industries through the provision of raw materials. For example, the trade supplied cotton, which was essential for textile manufacturing in places like Manchester. This interdependence fueled the Industrial Revolution, allowing Britain to emerge as a manufacturing powerhouse.
Step 4
Wealth of Ports and Merchants
Answer
Ports like Liverpool and Bristol were directly connected to the slave trade, with a significant portion of their wealth derived from slave-related commerce. The infrastructure and financial networks that developed around this trade were instrumental in supporting other sectors of the economy, reinforcing the importance of the slave trade.
Step 5
Conclusion
Answer
In conclusion, the view that the slave trade was important in the development of the British economy is valid. It provided capital, stimulated industrial growth, and enhanced trade networks. However, it is also essential to acknowledge the moral implications and human costs associated with this economic development.