Industrialisation and Protest Flashcards
What was the main basis that facilitated the Industrial Revolution
Technological advancements and British huge growing empire
When was the BofE established
1694
How many banks in the country by 1784 excluding London
119
How many banks in the country by 1808
800
Who were the first bankers and how did this system work
The goldsmiths in London would accept peoples gold and store it into gold bars, they would exchange receipts for gold which began paper money
How did goldsmiths and paper receipts help industrialisation
financial transactions became safer and easier, so business startups could access funds much more easily, also provided an easy way to pay workers
Why was goldsmith banking safe
Money could be simply moved from one account in the goldsmith to another account
When were county banks permitted bank note use
1797
What limited growth of banking
Bank of England charter denied use of banknotes for banks with over 6 members
joint stock bank
Bank owned by several people each with shares in the capital
When was the cap on joint stock banks lifted
1826
Why were joint stock banks so good
More stable so investors were more confident and would put ore money into the bank, they could manage larger sums of money needed for big industrial projects
What was the first joint stock bank
Lancashire Banking Company
What 1833 act helped banking further
Allowed joint stock banks in London to issue checks which increased the speed of financial transactions
How many joint stock banks and branches were there in 1866
154 joint stock banks with 850 branches
How was Banking significant in growing the economy
- source of capital that allowed men to start businesses
- provided finance to buy new machinery and technology for factories
- Allowed landed aristocracy to invest in many new developments like railways and docks or buy their own mills
What was the imports of cotton in 1761 compared to 1833
1761 - 3 million lbs
1833 - 300 million lbs
How many people did the cotton industry employ by 1833
833,000
What two inventions allowed the cotton and textile industry to grow so big
Richard Arkwrights water frame
Samuel Crompton’s spinning mule
when was the spinning mule invented
1779
when was the water frame invented
1769
What did Earl of Lonsdale do in 1839
He established Whitehaven harbour in Cumberland
why was the agrarian revolution important
More efficient farming due to machinery meant there was a greater supply of food and lower costs, so even the poorest could afford sustainable diet so they could work and population growth could be supported
How did mechanisation in agriculture indadvertedly help industrialisation
less labour was required for farming which pushed more people into urban jobs in factories
When was the seed drill invented
1701
How did Britain already have trade networks
Ready made trade routes from the early empire and east India company
How did Britains ready trade routes help industrialisation
Britain already had extensive trade routes so could access worldwide markets for all their new products.
What was the British ideology at the time and how did this help with industrialisation
Protestantism was focused on peace and a hard working ethic which helped Britain to create a productive workforce and economic development
Who created the steam engine
Thomas Newcomen
How did industrialisation cause the creation of a middle class
alternative non landowning means for progressing in society as men could develop industry and own factories to earn money
what was the size of the middle class in 1816
160,000
what was the size of the middle class in 1831
214,000
What principle did the middle class follow
Free Trade that everything they did main focus was profit
How was Richard Arkwright a perfect example of the middle class
He was born the son of a modest tailor and couldn’t afford to go to school but died in 1792 with a £500,000 personal fortune
Why did the emergence of a middle class help the working class
They provided factory which allowed people to earn living wage which a proper job and grew many urban centres
why did the emergence of a middle class hinder the working class
established a master and workers dynamic in the workplace and in society which set the grounds for the social unrest among the working class
Why was Lancashire favourable for cotton
Its climate was well suited as it stopped the cotton thread from splitting, it was also located very close to Liverpool so raw cotton could be imported from USA and textile products could then be exported from Liverpool
What was the divide in industry in Britain
The north became very focused on manufacturing and industry but the south remained agriculutural
What industry was in north east
Mining
What industry was in the north west
textiles
what industry was in the midlands
engineering and car manufacturing
In 1750s how many cities had over 50,000 people
2 London and Edinburgh
In 1851 how many cities had over 50,000 people
29 cities
What caused Britains mass urban migration
prospect of employment in factories where the poorest people could earn a living wage
What 3 ways was infrastructure developed to help the country become more linked
Canal, Roads, Railways
What was the low cost form of housing provided for the growing industrial urban population
Back to Back housing
What was Manchesters population by 1831
182,000
What was the governments approach in the period
Laissez Faire
Laissez faire
Minimal involvement from the governments with the economic preceedings in Britain inspired by Adam Smith free trade
How did the laissez faire approach help industrialisation
Allowed industrialisation to grow freely without any constraints or regulations allowing extreme profits
Combinations Acts 1799 and 1800
Stopped the formation of trade unions
Master and servant act when and what
1823 made failure to fulfil a work contract a crime punishable by imprisonment
What two acts did the government introduce that kept Britain growing economically at the expense of human welfare
Combinations Acts and Master and Servant Act
Why did the Government want to nationalise water utilities in the mid 1800s
It was ran by private companies who didn’t run a consistent service
Was the rail network private or public
private
What was the first rail line conceived in 1820s
Stockton and Dartington
How did the Governments maintain control over railways even when it was private
They controlled which companies could be incorporated and the lands that could be sold to the companies
Railway regulation act when and what
1844 strengthened state power over the railways and gave them the option to nationalise
What three economic acts by the government reinforced the idea that the government wanted to allow free trade to dictate the pace of Britains growth
- 1813 Repeal of the statute of Artificers
- 1826 Banking Co-partnership Act
- 1846 Corn Law Repeal
Repeal of the statute of Artificers when and what
1813 removed the act that had put some regulation on wages and working conditions
Banking Co-partnership Act when and what
1826 repealed the act that put a limit on the number of joint stock banks