New weapons such as breech-loading rifles and Gatling machine guns gave European armies the decisive edge in most of the battles. (b) Monopoly Capitalism leading to full-fledged Imperialism Monopoly industry brought huge profits to its owners. The result was accumulation of surplus money. The captains of industry found out that by exporting capital abroad they could earn increased profits.
They began to invest the surplus money in colonies where there was a pressing need for railways, electricity, roads, etc. Apart from direct investment, loans were also arranged from the “mother country”. When England made loans to India for the constructions of railways, the rails, engines and other required accessories were purchased in England again at a profit to English manufacturers. Thus both investors and manufacturers found it in their interests to support colonialism.
This alliance of industry and finance seeking profits in markets of goods and capital was the essential characteristic of imperialism. Partition of Africa: In King Leopold II of Belgium took the lead in exploring and seizing through his International African Association, a great rubber producing region, what is now known as Belgian Congo. In a French expedition occupied Tunis, to the great displeasure of the Italians who had been longing to annex it. In they occupied the Ivory Coast, Dahomey in and Madagascar in .
Great Britain, apart from conquering Natal and the Transvaal in south Africa, annexed many parts of Africa. In Great Britain succeeded in securing control over Egypt. The Gold Coast colonies, Uganda, Zanzibar, part of East Africa, and Rhodesia became part of the British Empire. Between and Germany acquired Togoland, the Cameroons, German South- West Africa and German East Africa.
The scramble for territory among the great European powers resulted in the completion of partition of “The Dark Continent of Africa” by the end of the century. Only countries such as Liberia, Morocco and Abyssinia remained un-annexed. English economist John A. Hobson defined Imperialism as follows: Imperialism is endeavour of the great controllers of industry to broaden the channel for the flow of their surplus wealth