Causes of the Industrial Revolution in Britain Flashcards
Define the Industrial Revolution
A period of time usually 1750-1900 when Britain experienced social and economic changes from cottage to factory based systems
Why is banking considered to be a cause of the Industrial Revolution?
Because it funded business ventures and start-ups
Why are Thomas Newcomen’s steam engine and the Spinning Jenny credited with making the Industrial Revolution possible?
Because the engine was the proto-type for steam-powered factories and the Spinning Jenny revolutionised the textile industry
How many banks had been established by 1784?
119
How many banks had been established by 1800?
800
Why was banking seen to be secure in Britain?
Because the exchange of receipts or bills for gold deposits was the beginning of paper currency
What were county banks allowed to do alongside city banks in 1797?
Issue bank notes/paper currency
What was removed from small country banks in 1826 to enable them to grow into joint stock banks?
A cap on banks to give them the right to issue notes
What was the name of the first joint stock bank?
Lancashire Banking Company 1826
Why was Britain credited with being the ‘workshop of the world’?
Because it was the first country to have an advanced industrial revolution by the mid 1800s
By how many million pounds of cotton did importations increase by between 1761 and 1833?
297 million
Name 2 machines which transformed the cotton industry? 2 marks
Samuel Crompton’s Spinning Mule in 1779 and Richard Arkwright’s Water Frame in 1769
Give 3 reasons/factors that caused the industrial revolution. 3 marks
Technology, banking, entrepreneurs, natural resources, small country/easy to travel to the coast, navigable rivers, peaceful country, stable government, protestant work ethic
Why was Lancashire good for cotton mills? 2 reasons.
Cool climate stopped the cotton thread from splitting and close to the port of Liverpool, slave trade port and access to trading links, eastern coast closer to American trade, Manchester to Liverpool railway built in 1830
In what areas of the UK did the industrial revolution thrive?
North west = textile manufacturing, north east = mining, Midlands = engineering