At the turn of the twentieth century, Great Britain was a formidable world power, controlling territory on nearly every continent. Queen Victoria ruled the country from 1837 until her death in 1901, and her influence on Great Britain was still felt in 1904 though her son Edward VII was on the throne. The Edwardian era was extravagant for those with money, but the difference between the rich and the poor was a sharply divided line. Though the United States was still a developing nation, its industrial power gave it a burgeoning reputation.

While London was the center of several international markets, including currency and commodities, there was economic doubt and tension after years of prosperity due to the Industrial Revolution of the late-nineteenth century. Certain commodities suffered while others prospered. Farmers who grew grains did not do as well as dairy or fruit farmers. Industry moved towards consolidations and...