Industrialisation and Protest: Impact of Industrialisation Flashcards
When was the Bank of England established?
1694
By 1784 how many banks were there in the UK?
119 (not including London)
In 1808 how many banks were there in the UK?
800
In what year were banks given permission to grant bank notes?
1797
In 1826 what happened meaning that the baking system could grow more?
The cap on the banks was removed, they could cater for more than 6 members
Where/when was the first joint-stock bank?
Lancashire in 1826
By 1866 how many joint-stock banks were there worldwide?
154 (with 800 branches)
Why was the banking system important to the economy?
Provided source of capital and an easy way to pay employees
How much cotton was imported in 1833 in contrast to 1761?
1761: £3 million worth
1833: £300 million worth
How many did the cotton industry employ by 1833?
833,000
When was Arkwright’s waterframe invented?
1769
When was Crompton’s Spinning Mule invented?
1779
Railway and dock investment was popular, for example..
In 1839 the Marquess of Bute built Cardiff bay docks
Between 1816 and 1831 the middle class grew from ____ to _____
160,000 to 214,000
Middle Classes came from the working class, for example
Arkwright came from nothing, died with personal fortune of £500,000