What did the British do yo increase their financial resources?
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One such factor is the economic motivation of Britons, having a desire to defend the financial interests abroad of chartered companies founded earlier for individual financial gain — for example, Goldie's United Africa Company, Rhodes, and the British South Africa Company, and most famously the East India Company, founded as long ago as 1600. Whilst nominally still a company with shareholders and directors, in fact the East India Company had ceased to be trading company at all, and was instead authorised ruler of the vast Indian subcontinent. The markets for British goods opened up in such areas by these businesses, coupled with the vast resources of cheap raw materials to be found there, made defence of such interests of paramount importance.
Britain's informal empire was aided by the Industrial Revolution, which provided the tools of Empire, such as the Gatling Gun, the railway, and the steamship. Such technological advantages, according to Hobsbawm, "made the conquest of weak industrial people easier." Meanwhile the industrial revolution motivated the search for new markets, especially during the depression from 1875, when according to Hobson "greedy capitalists" preferred to invest in new areas than raise wages. This metropolitan explanation, however contentious, accurately indicates the importance of the economic potential of colonizable areas — something that all the European powers realized.
Indeed, the emergence of new powers, which appeared to rival Britain's economic and imperial supremacy, challenged both its financial and strategic interests. After 1871 newly unified Germany tipped the balance of power in Europe since Austria-Hungary was subordinate to it, whilst France sought to restore prestige after the Franco-Prussian War. Following the American Civil War, high wartime tariffs remained in the USA, and the new country looked likely to become an economic rival. A.J.P. Taylor justifiably construed European imperialism as a manifestation of the struggle for mastery: each country tried to tip the balance of power, and undeveloped areas provided an arena for competition. It was felt in Britain that the emerging Great Powers sought to emulate Britain's great power and status. Consequently, a largely unjustified sense of insecurity developed in Britain, which lead in turn to a desire to defend the British Empire.
Britain's informal empire was aided by the Industrial Revolution, which provided the tools of Empire, such as the Gatling Gun, the railway, and the steamship. Such technological advantages, according to Hobsbawm, "made the conquest of weak industrial people easier." Meanwhile the industrial revolution motivated the search for new markets, especially during the depression from 1875, when according to Hobson "greedy capitalists" preferred to invest in new areas than raise wages. This metropolitan explanation, however contentious, accurately indicates the importance of the economic potential of colonizable areas — something that all the European powers realized.
Indeed, the emergence of new powers, which appeared to rival Britain's economic and imperial supremacy, challenged both its financial and strategic interests. After 1871 newly unified Germany tipped the balance of power in Europe since Austria-Hungary was subordinate to it, whilst France sought to restore prestige after the Franco-Prussian War. Following the American Civil War, high wartime tariffs remained in the USA, and the new country looked likely to become an economic rival. A.J.P. Taylor justifiably construed European imperialism as a manifestation of the struggle for mastery: each country tried to tip the balance of power, and undeveloped areas provided an arena for competition. It was felt in Britain that the emerging Great Powers sought to emulate Britain's great power and status. Consequently, a largely unjustified sense of insecurity developed in Britain, which lead in turn to a desire to defend the British Empire.
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