1832-1846: The Economy Flashcards
1
Q
Introduction - Recessions
A
2
Q
In what year was there economic recessions?
A
- 1830- 1832
- 1838- 1839
- 1842- 1843
- 1847- 1848
3
Q
In what years was there here not a recession?
A
- 1832- 1838
- 1839- 1840
- 1843- 1846
4
Q
Towards Railway Mania
A
5
Q
Describe the years and events that led to railway mania:
A
- 1825: the first passenger line opened from Stockton to Darlington
- 1830: Manchester to Liverpool line opens
- 1830s: Investment into and planning by railway companies, Acts of Parliament supporting expansion
- 1840s: extensive railway building
- 1844: Railway Acy
6
Q
How many miles did railway tracks cover in 1832?
A
100 miles
7
Q
How many miles did railway tracks cover by 1843?
A
2,000
8
Q
How many miles did railway tracks cover by 1846?
A
4,000
9
Q
How was railway building impacting the wider British economy?
A
- increased demand for coal
- increased demand for iron
- railways allowed quicker and cheaper transport of raw materials to factories
- then goods were easily transported to the markets
10
Q
What positive impact did this railway building have?
A
- the economy grew
- profits increased
- there was more money to reinvest in the railway industry
11
Q
What were the 3 main impacts of the expansion of the railway industry?
A
- demonstrated stability of the economy, as investors are willing to commit
- demonstrated wealth of UK businessmen, as they would not get a return on their investments for years
- paved way for creation of the Steam Ship
12
Q
A
