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THE EIGHTEENTH CENTURY
Britain was as powerful as France. This resulted from the growth of its industries and from the wealth of its large new trading empire. Britain now had the strongest navy in the world; the navy controlled Britain's own trade routes and endangered those of its enemies.
Britain had become wealthy through trade. This wealth, or "capital", made possible both an agricultural and an industrial revolution which made Britain the most advanced economy in the world. -
George I becomes king
When Queen Anne, the last of the Stuarts, died in 1714, the Protestant ruler of Hanover, George, became king. -
Jacobite rising begins
When George, became king Tories wanted the deposed James II's son to return to Britain as James Ill. The only problem was that he had to give up Catholicism and accept the Anglican religion. But James would not give up his religion or his claim to the throne, so he tried to win it by force.
In 1715 he started a rebellion against George I. But the rebellion was a disaster and, George's army defeated the English and Scottish "Jacobites", as Stuart supporters were known. -
"South Sea Bubble" bursts and causes financial panic
The South Sea Company was a financial and trading organisation mainly dealing with Spanish America. It received trading rights to the South Seas in return for financing the British government's debt. When it was discovered that the directors of the profitless company had sold out, it sparked a massive panic and a major financial crash occurred in the City of London. Many people lost their fortunes, but Robert Walpole was able to bring back public confidence.
