With its weird red earth and its alien flora and fauna – the eucalyptus trees and kangaroos – Australia was the eighteenth-century equivalent of Mars. This helps explain why the first official response to the discovery of New South Wales by Captain Cook in 1770 was to identify it as the ideal dumping ground for criminals.

In all, around 100,000 Loyalists left the new United States bound for Canada, England or the West Indies. It has sometimes been argued that in gaining Canada in the Seven Years War, Britain had undermined her position in America. Without the French threat, why should the thirteen colonies stay loyal? Yet the loss of America had the unforeseen effect of securing Canada for the Empire, thanks to the flood of English-speaking Loyalists immigrants who would eventually reduce the French Quebecois to a beleaguered minority. The amazing thing is that so many people should have voted with their feet against American independence, choosing loyalty to King and Empire over ‘life, liberty and the pursuit of happiness’.

It was the moment when the British ideal of liberty bit back. It was the moment when the British Empire began to tear itself apart. On the village green of Lexington, Massachusetts, British redcoats exchanged fire for the first time with armed American colonists. It was 19 April 1775.

‘Amazing Grace’ is the supreme hymn of Evangelical redemption….It is therefore tempting to imagine John Newton suddenly seeing the light about slavery and turning away from his wicked profession to dedicate himself to God. But the timing of Newton’s conversion is all wrong. In fact, it was after his religious awakening that Newton became the first mate and then the captain of a succession of slave ships, and only much later that he began to question the morality of buying and selling his fellow men and women.

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Between the early 1600s and the 1950s, more than 20 million people left the British Isles to begin new lives across the seas. Only a minority ever returned. No other country in the world came close to exporting so many of its inhabitants. In leaving Britain, the early emigrants risked not merely their life savings but their very lives. Their voyages were never without hazard; their destinations were often unhealthy and inhospitable. To us, their decision to gamble everything on a one-way ticket seems baffling. Yet without millions of such tickets – some purchased voluntarily, some not – there could have been no British Empire. For the indispensable foundation of the Empire was mass migration: the biggest in human history. This Britannic exodus changed the world. It turned whole continents white.

In 1615 the British Isles had been an economically unremarkable, politically fractious and strategically second-class entity. Two hundred years later Great Britain had acquired the largest empire the world had ever seen, encompassing forty-three colonies in five continents.

The struggle for world mastery between Britain and France would rage on with only brief respite until 1815. But the Seven Years War decided one thing irrevocably. India would be British, not French. And that gave Britain what for nearly two hundred years would be both a huge market for British trade and an inexhaustible reservoir of military manpower. India was much more than the ‘jewel in the crown’. Literally and metaphorically, it was a whole diamond mine.

For better, for worse – fair and foul – the world we know today is in large measure the product of Britain’s age of Empire. The question is not whether British imperialism was without a blemish. It was not. The question is whether there could have been a less bloody path to modernity. Perhaps in theory there could have been. But in practice?

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For much (though certainly, as we shall see, not all) of its history, the British Empire acted as an agency for imposing free markets, the rule of law, investor protection and relatively incorrupt government on roughly a quarter of the world. The Empire also did a good deal to encourage those things in countries which were outside its formal imperial domain but under its economic influence through the ‘imperialism of fair trade’.