13.1   Rise of Imperialism

(a) Dominance of Industrial Capital and Advocacy of Free Trade It was believed in the seventeenth century that a state’s greatness was dependent on commerce. It was natural, therefore, that the interests of the state and of the merchant class Q.R.Code Imperialism and its Onslaught became identical. The Mercantilist period ( – ) was a period of accumulation of capital that facilitated the industrial revolution in Europe. The leading powers of the time, Holland, France and England, became major colonial powers with access to overseas markets. Yet it was England, accomplishing industrial revolution first, that emerged as the most powerful country. The export markets for England existed initially in Europe. But as other countries began to industrialise, the market for export of surplus manufactures had to be found elsewhere.