Chapter 3: Industrialisation Flashcards
What did Industries develop from?
Small-scale production of goods, often in domestic surroundings, to large scale production in factories and iron foundries.
What was there a sharp rise of in the decades of the 1780s and 90s, and what did this indicate?
Rise in both imports and exports, indicating a marked increase in economic activity.
What Industries developed in the period 1780-1812?
The rate of economic advance was rapid, developments occurred in the production of iron, coal and cotton, and brought far-reaching changes to the British economy and society.
What are the reasons for economic growth in the period 1730-1812?
Development of trade, availability of capital, access to raw materials, improvements in agriculture, political stability, scientific and technological invention, and within Britain there was free movement of people and goods. Underlying these there was also a growth in population.
What brought a growth in trade (with other countries)?
Shipbuilding, exploration, discovery of new overseas markets and colonization. This growth in trade in turn stimulated the development of banking and finance.
Trade: what was the East India Company? What did it trade in?
The largest and most influential English trading company. Enjoyed a trade monopoly in India and the Far East until the nineteenth century. Traded in spices, silk, cotton and tea.
What was a result of the thriving trade industry?
Capital was available to borrow at low interest rates, to invest in the expansion of existing industries and set up new enterprises.
What did the rise in population mean?
There was a large labour force available. Also led to an increased demand for food, clothing, housing and other commodities, and therefore increased production of manufactured goods, especially textiles, at low prices, and stimulated agricultural output.
What did political stability mean?
More enlightened ideas would flourish.
What was the view of Science?
Scientific thought encouraged innovation and intervention.
How was Britain in comparison to it’s neighbours?
It was relatively liberal and democratic, and the people were free to move themselves and goods around the country and so there was little hindrance to new ventures.
What did Britain’s large supply of natural resources mean?
Able to create power to drive the newly-invented industrial machines. Fast-flowing streams could be modified to harness water power. Coal and iron ore were often found close by, providing vast amounts of raw materials for the manufacture of heavy machinery.
How did England being an Island benefit industry?
Nowhere was too distant from the sea and there were navigable rivers and new industry in canal building- all essential for the transport of raw materials and manufactured goods.
When and why was the first official census to enumerate Britain’s population conducted?
- It was done partly to settle the conflicting views on whether or not the population was growing, and partly, if it was increasing, to address the anxiety about its sustainability. Debates raged from all sides.
What were the fierce debates about the British population?
Dr Richard Price argued Britain was weak and this was causing a decline in population, and Arthur Young stated that the population was increasing, and he observed a healthy economy.
