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The Impact of Empire on Britain 1688–c.1730

The Treaty of Utrecht, the South Sea Bubble and the slave-based colonial economy

  • 3 things to know
  • Paper 3

Overview

The settlement of the War of the Spanish Succession, Britain's gains and the Asiento, the South Sea Company and the crash of 1720, what the colonies sent to Britain, the Navigation Acts, sugar and enslaved labour, the Middle Passage and the slave codes.

What you need to know

Answer each one before you reveal it.

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Key term

Which war did the Treaty of Utrecht end, and how was the Spanish crown settled?

Key term

What did Britain gain by the treaty of 1713?

Key term

What happened when the South Sea Company scheme collapsed in 1720?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    Which war did the Treaty of Utrecht end, and how was the Spanish crown settled?

    Model answer

    The War of the Spanish Succession; Philip V kept Spain and its empire but gave up for ever any claim to the throne of France.

  2. 2

    What did Britain gain by the treaty of 1713?

    Model answer

    Gibraltar and Minorca in the Mediterranean, and from France Newfoundland, Acadia and the Hudson Bay lands in North America.

  3. 3

    What was the Asiento, won by Britain in 1713?

    Model answer

    The contract to supply enslaved Africans to Spain's American colonies for thirty years, together with the right to send one trading ship a year.

  4. 4

    What did the South Sea Company propose to do in 1719?

    Model answer

    To take over most of the national debt, paying the government's creditors in its own shares in return for interest and its monopoly of trade with Spanish America.

  5. 5

    What happened when the scheme collapsed in 1720?

    Model answer

    Shares talked up from little over £100 to about £1,000 fell back within months and ruined thousands of investors. Ministers were found to have taken shares as bribes, the Chancellor was imprisoned, and Robert Walpole made his name by restoring confidence.

  6. 6

    What did the Caribbean and North American colonies each send to Britain?

    Model answer

    The Caribbean sent sugar, rum and molasses, the most valuable imports of all, while North America sent tobacco, rice, timber, furs and fish.

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