3. Economic Developments Flashcards
Why was there a steep increase in imports and exports between 1780s-1790s?
Pitt’s adoption of Free Trade
How did the East India Company raise its funds?
Trade of silk, spices, cotton, tea, sugar, tobacco and slaves
How did the introduction of canals boost industry?
Raw material and goods could be transported quickly
Why was there an increase in population?
Agricultural improvements- increase in food production, better quality of food and lower prices
Industrialisation created more jobs- stability and could afford to marry younger and have children
Migration to new industrial towns- meeting more people
What does the phrase “Five Towns” refer to?
The renowned pottery towns in Staffordshire
What was nicknamed the “cottage industry”?
Domestic production of cotton via handlooms or spinning wheels at home
What caused the rise of the cotton industry?
More people wanting more clothes, cotton could be more cheaply imported, machinery e.g “Spinning Jenny”
What caused the increase in demand for iron?
Power was needed to run the machinery in the growing cotton industry- cotton mills
Who was John Wilkinson?
The pioneer of the use and manufacture of cast iron
What caused the increase in the demand for coal?
Growth of cotton and iron industries- coal replaced wood as a fuel- cheap fuel
What was the estimated output of coal in the 1780’s and 1812?
1780’s- 7 million tonnes
1812- 14 million tonnes
When was the peak of the canal industry?
1780s
Name a key investor in the canal industry, and why he invested
Josiah Wedgewood- transport pottery goods cheaply and avoid damage
Name the new system of agricultural production
Enclosure
How did steam power revolutionise industry in Britain?
Reduced power and increased efficiency of machinery
