1. Growth of Industrialisation Flashcards
What are the 6 factors for this question?
- Laissez Faire Policies
- Non Laissez Faire Policies
- Growth of Banking
- Middle Class
- Geographical diversity
- Urbanisation
Laissez Faire Policies
What were the 1799 and 1800 Combination Acts about?
They made it illegal to form unions, a response to weavers in Lancashire forming a union due to declining wages.
Laissez Faire Policies
What was the purpose of the 1823 Master and Servant Act?
It aimed to punish those who failed to fulfill their work contracts, with imprisonment as a penalty.
Laissez Faire Policies
What law regulating wages and working conditions since 1563 was repealed in 1813?
The Repeal of the Statutes of Artificers.
Laissez Faire Policies
Which act, repealed in 1826, limited the number of joint-stock banks and encouraged the creation of larger ones?
The Banking Co-partnership Act of 1826 - which repealed the 1720 Bubble Act
Laissez Faire Policies
In 1846, which protectionist laws were repealed, reducing government intervention in markets?
The 1815 Corn Laws.
Non Laissez Faire Policies
What was the purpose of the 1844 Banking Charter Act?
It placed a cap of twenty years on the lifetime of new Joint Stock Banks.
Non Laissez Faire Policies
How did the railways change transportation infrastructure in the 19th century?
They replaced slow canals and were developed by both private companies and government initiatives.
Non Laissez Faire Policies
What was the significance of the Stockton-Darlington line opening in 1825?
It required an Act of Parliament to incorporate the company and allow the acquisition of lands for the project.
Non Laissez Faire Policies
What power did the 1844 Railways Act give the government?
It gave the government the ability to nationalise railways if desired.
Non Laissez Faire Policies
What role did the Factory Acts play in government intervention in industry
They demonstrated the government’s interest in ensuring the success of the industry by regulating working conditions and safety standards.
Growth of Banking
How did the growth of banking extend beyond London in the late 18th century?
By 1784, there were already 119 banks outside of London, which expanded to 800 by 1808.
Growth of Banking
What prompted the practice of depositing gold with Goldsmiths in exchange for paper guarantees of exchange?
After Charles I stole from the royal mint, people started depositing gold with Goldsmiths, leading to the issuance of paper guarantees of exchange.
By 1797, all banks could issue banknotes, providing an effective way for rural areas to pay employee wages.
Growth of Banking
What impact did the 1826 Banking Co-partnership Act have on the number of Joint Stock Banks?
The number of Joint Stock Banks grew to 154 by 1856, with over 850 branches, following the passage of the act.
Growth of Banking
Which was the first Joint Stock Bank, and when was it established?
The Lancashire Banking Company, created in October 1826, was the first Joint Stock Bank