Week 1 Flashcards
The development of capitalism
Why was capitalism important?
The industrial changes that took place (1750 - 1850) would not have been possible without it. Essential if money was to be invested into machined and technology. Factories required sufficient funds to provide the buildings, machines, and to purchase the raw materials.
What was economy like in the early 18th century?
There was already a healthy economic and commercial structure and reliable currency. 1720 - There had been an outburst of speculation which damaged the economy. The government reacted quickly in order to prevent it from happening again. There was a central bank (the Bank of England). Government took care to manage the economy sensibly. As far as possible, government expenditure matched its income.
Why was iron important?
It was essential for making all machines. There was little available in Britain in 1700, but the demand was there?
What problems was there with iron?
The first problem was getting sufficient energy for the furnaces which heated the iron ore to extract the iron. The second problem was getting the right sort of energy to remove impurities from the ore, in order to make quality iron that was easy to use in making machines.
What was the principle source of energy for iron manufacturing?
Wood, which Britain was running out of by 1700
How did Abraham Darby contribute to the industrial revolution?
He created the solution of using coke to smelt iron.
What was coke?
A hard fuel made from coal, but containing fewer impurities. It contains less sulfur than coal and wood was now too expensive to use.
How was the new iron used?
To make railways, machinery and to make the ironbridge gorge.
Where did Darby place his iron works and why?
He placed them near the River Severn, which provided water power and was near to coalfields and iron ore sites. This also provided an outlet to the sea through the port of Bristol.
Why did Darby use steam pumps to pump water to the water to the water wheels and fire his furnaces?
His furnaces could run all year even when the river was low. He was the first iron maker to use steam pumps.
