Economic Timeline

• 1780's- lost US colonies, National Debt- but a boom in industry and Pitt established reforms, e.g. Sinking fund 
• 1800's- Napoleonic Wars begin, but strong industry and boost in wartime industry 
• 1810's- economic crisis- poor harvests, banks collapse- shortage in cash= inflation 
• 1820's- post-war economic slump- but start of consumerism and more exports and industry 
• 1830's- consumerism and industry continue development 
• 1840's- railway boom begins, expanded most industries, improved agricultural conditions 
• 1850's- repeal of Corn Laws (1846) now having an effect- gives economic relief to Ireland. Great Exhibition, global trade, Empire, Golden Age of Agriculture, developed railway and improved engineering 
• 1870's- Great Depression* starts- economic downturn, suffering agriculture, supply overtakes demand, failing markets overseas= lower prices= lower profits 
• 1880's- Royal Commission put together- are hopeful for the future but still suffering 

*Some historians argue the Great Depression was a merely a readjustment and was not as bad as previously thought