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British Nationalism, Imperialism and the City of London 1880-1900 Smith, Steven Reginald Burdett

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British Nationalism, Imperialism and the City of London 1880-1900 Smith, Steven Reginald Burdett British Nationalism, Imperialism and the City of London 1880-1900 Smith, Steven Reginald Burdett The copyright of this thesis rests with the author and no quotation from it or information derived from it may be published without the prior written consent of the author For additional information about this publication click this link. http://qmro.qmul.ac.uk/jspui/handle/123456789/1896 Information about this research object was correct at the time of download; we occasionally make corrections to records, please therefore check the published record when citing. For more information contact [email protected] 1 QUEEN MARY COLLEGE BRITISH NATIONALISM, IMPERIALISM AND THE CITY OF LONDON 1880-1900 A thesis submitted for the degree of Doctor of Philosophy of the University of London by Steven Reginald Burdett Smith 2 AB STRACT Based mainly on the records of the London Chamber of Commerce, the study explores the role of the City in the promotion of a form of British nationalism and the pressure for an expansion of the British Empire and navy in the last two decades of the nineteenth century. In its propagation of a free-trade form of imperial federation, the City struggled with protectionists within the Imperial Federation League, at the Congresses of the Chambers of Commerce of the Empire convened by the London Chamber of Commerce, and by forming the British Empire League. The City's concern to consolidate the existing Empire, together with a demand for its expansion, was presented as a 'National Commercial Policy' and justified with rhetoric which included economic nationalism, the civilising mission of the British, and free trade. The close relationship between the City and the State is revealed to have had two aspects: the one consciously kept hidden and which admitted the political and specific economic realities involved; the other publicly performed, which denied the hidden aspect and was played in general language to various audiences at home and abroad, who were composed of interests which competed politically or economically with the City. The activity of committee members of the trade sections of the London Chamber of Commerce for West Africa, South Africa, and East India and China provide examples of this relationship, and details of the economic interests of those City businessmen involved are recorded. 3 The City's often-ignored, leading role in the pressure for a continuous and rapid expansion of the navy during this period is demonstrated, in particular by the activities of the Naval Defence Standing Committee of the London Chamber of Commerce which brought together the politicians, naval officers and businessmen who formed the centre of the movement in the 1890s. 4 CONTENTS PAGE LIST OF ABBREVIATIONS 6 INTRODUCTION 8 SECTION ONE: 1880-1890 29 30 CHAPTER 1. CITY OPINION - The Formation of the Chamber of Commerce 33 - Imperial Federation: 'The Old Manchester School is Dead' 40 - The City's 'National Commercial Policy': 56 Imperialism 63 - Protectionism - Within the City 67 CHAPTER 2. THE CITY AND THE STATE: THE OFFICIAL AND THE HIDDEN RELATIONSHIP 78 - The British Suez Canal 80 - The West Africa Trade Section 86 - The South Africa Trade Section 102 - The East India and China Trade Section 137 CHAPTER 3. THE POLICING OF PROFITS AND POSSESSIONS ABROAD 163 SECTION TWO: 1890-1900 204 CHAPTER 4 • FREE TRADE: THE MM.T.RAB T.R WEAPON OF 205 DOMINAN - Imperial Federation 207 222 - Silver - Sugar 226 - Free Trade and City Nationalism 230 5 PAGE CHAPTER 5. 'POLITICS AND FINANCE': MONOPOLIES, MINES, LOANS AND RAILWAYS 240 - The East India and China Trade Section 258 - The West Africa Trade Section 275 - The South Africa Trade Section 295 CHAPTER 6. THE NAVY AND THE CITY 314 CONCLUSION 364 APPENDIX: THE YIELD OF THE STAPLE TAXES, 1880-1900 378 BIBLIOGRAPHY 379 6 ABBREVIATIONS ACCUK The Association of the Chambers of Commerce of the United Kingdom. B.E.L. The British Empire League. BM The Bankers' Magazine. CAB 37/17 The Public Record Office, Cabinet papers. CCJ The Chamber of Commerce Journal. CCJ (Commerce) Commerce - a short-lived weekly version of the Chamber of Commerce Journal. CMB 1 & 2 The Council Minute Books of the London Chamber of Commerce. Co Colonial Office. Co 96/178 The Public Record Office, Colonial Office papers. EICMB The Minute Book of the East India and China trade section of the London Chamber of Commerce. Econ. The Economist. Exec. MB The Minute Book of the Executive of the London Chamber of Commerce. FN The Financial News. FO Foreign Office. FO 403/38 The Public Record Office, Foreign Office papers. GMB 1, 2 & 3 The General Minute Books of the London Chamber of Commerce. I.F.L. The Imperial Federation League. I.F. (D. )c. The Imperial Federation (Defence) Committee. NDSC Naval Defence Standing Committee of the London Chamber of Commerce. NLJ The Navy League Journal. NLMB The Minute Book of the Executive of the Navy League. Pan .Deb. Parliamentary Debates. 7 Parl.Papers Parliamentary Papers. R.C.I. The Royal Colonial Institute. RMB 2 The Rough Minute Book of the London Chamber of Commerce. SAMB The Minute Book of the South Africa trade section of the London Chamber of Commerce. WAMB The Minute Book of the West Africa trade section of the London Chamber of Commerce. All footnotes including newspapers and journals refer to editorial comment unless a page number is given. 8 INTRODUCTI ON Amid the welter of vague political abstractions to lay one's finger accurately upon any 'ism' so as to pin it dowf and mark it out by definition seems impossible. The difficulties involved in studying nationalism and imperialism have been recognised for a hundred years 2 and there is still no general agreement on the nature of the subject. 3 Approaches have varied. The problem is not greatly simplified by limiting studies to a definition of 'nationalism' or 'imperialism', 4 because not only do the meaning of words change over time, 5 but they may have a number of meanings simultaneously. 6 Moreover, a meaning or concept is often dependent upon related terms or ideas for its particular sense. Other approaches aimed at simplifying the task for the historian have included the 1. J.A. Hobson, Imperialism (1938), 1. 2. Sir FI.J.S. Maine, PopuI.r_Goyrnment (1886), 27, pointed out that 'Nobody can say exactly what nationalism is'. 3. R. Owen & B. Sutcliffe (eds.), Studies_in_flTheor of Imperialism (1972), 3, 'For one thing there is no general agreement about the meaning of the word itself, or about the phenomenon it is meant to describe'. N. Ethrington, 'Theories of Imperialism in South Africa revisited', Afrcan_Affairs (1982), 387, has referred to the theoretical discussion of imperialism as 'the misconceived debate kept alive by the hidden agendas of historians'. 4. For an example of such work, see R. Koebner & H. Schmidt, Imperialism (Cambridge, 1964). 5. 'Nationalism' originally referred to a concept of popular sovereignty in France, see K.R. Minogue, Nationalism (1967); C.J. Hayes, Essays on Nationalism (New York, 1926); The Royal Institute of International Affairs, Nationalism (Oxford, 1939); L.L. Snyder, The Meaning of_NationIism (1954); H. Seton-Watson, Nations and States (1977T 6. Patricia Knight, 'British Public Opinion and the Rise of Imperialist Sentiment' (Warwick University, Ph.D., 1968). 9 proposal of an unchanging essence of nationalism,' or the bringing together of a number of different terms on the grounds that they are aspects of an underlying, unchanging patriotism. 2 These methods lead to an ahistorical explanation of the terms: it is a small step from them to the assumption that nationalism is latent in the souls of human beings, 3 and so beg the question altogether in the same way as Hobbes avoided addressing the complexities of human conflict.4 'Nationalism' and 'imperialism' in the late nineteenth century were terms or concepts which were related to other ideas and derived their significance from the fact that they constituted part of the political debate of the period. They formed part of the argument or language with which particular policies were promoted, justified or opposed. 'Free trade', 'protectionism', and 'imperial federation' were some of the related terms for which it is equally difficult to provide a single definition. When the popularity of a specific policy was 1. Seton-Watson, op.cit., 445, defined the essence of nationalism as 'the application to national communities of the enlightenment doctrine of popular sovereignty'. The use of the concept of essences by historians has been well criticised by Quentin Skinner, 'Meaning and Understanding in the History of Ideas', History and Theory viii (1969), 3. 2. Hugh Cunningham, 'The Language of Patriotism', History Worksho, xii (1981), 8. 3. M.D. Blanch, Nation, Empire and the Birmingham Working Class, 1899-1914' (Birmingham University, Ph.D., 1975), 385. 4. 'Hobbes inquires, For what reason do men go armed if they be not naturally in a state of war? But is it not obvious that he attributes to man before the establishment of society, what can happen but in consequence of this establishment, which furnishes them with motives for hostile attacks and self- defence', Baron de Montesquieu, The Spirit f_th Laws (University of California Press, 1977), 102. 10 in question, its supporters often invoked 'public opinion' in its defence. 1 It has been suggested that , if it is possible for an historian to use the term 'public opinion' at all, it should be used in a literal sense to mean the opinion of the public; and a starting point for a study of public opinion in this sense would be the different opinions promoted consciously by various interest groups.2 The same method may be assumed appropriate for an analysis of the language with which particular policies were addressed in the public arena.
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