Industrialisation and Protest Flashcards
(42 cards)
When was the Bank of England established?
1694
What inventions helped industrialisation?
Watt’s steam engine (1769)
Arkwright’s water frame (1769)
Crompton’s Spinning Mule (1779)
What did Adam Smith publish in 1776?
‘An inquiry into the nature and causes of the wealth of nations’
Shortened to ‘Wealth of Nations’
What did Adam Smith consider in his publication?
Economy of industrialised countries, including ideas about division of labour, productivity and free markets
By how much did banks grow in number between 1784-1808?
119 to 800
When were banks allowed to grant bank notes? How did this help banking?
1797- allowed banks to work on a personal level and made paying employees from a central fund easier
When was the Unlawful Oaths Act passed? What was it?
1799- originally to prevent naval mutiny by making ‘oaths’ illegal
Why did people lose faith in the Royal Mint?
King Charles I stole from it in 1640
How did banking begin with goldsmiths?
People chose to deposit gold with smiths in return for receipts or bills pf exchange, they were later able to help with loans
How did removing the cap on joint-stock banks help banking?
1826 banks grew in size and became more stable, managing greater sums of money
Where was the first joint-stock bank?
1826- Lancashire
How did banks grow more after 1833?
Parliamentary act allowed banks to issue cheques, which increased speed of commercial transactions
How many joint-stock banks were there by 1866?
154 with 850 branches nationwide
How did the cotton industry rely on the growth of banking?
Banking allowed manufacturing to grow
1761 3 million pounds of cotton imported
By 1833, was employing 833,000 and importing 300 million pounds
How did landed aristocracy contribute to industrialisation?
Investment in railway and docks, which improved manufacturing capabilities
Marquess of Bute built docks at Cardiff in 1839
By how much did the middle class grow between 1816-1831?
From 160,000 to 214,000 (increase of about 1/3)
What attitude did middle class entrepreneurs have?
Followed Adam Smith’s principles of free trade, put emphasis on competition in markets and each aimed to dominate the market
Who, as an example, saw great success as a self-made middle class entrepreneur?
Richard Arkwright, after inventing the water frame in 1769 built a cotton mill in Cromford, Derbyshire and later expanded across north England, died with £500,000 to his name
How did the British landscape change through industrialisation?
Where counties with agricultural land were valued highly, cities transportation links (ie. ports: Liverpool, then canals and railways) became more important, as well as availability of coal
What were the regional differences across the UK as a result of industrialisation?
North-west (eg. Manchester)- cotton and wool
North-east (eg Newcastle)- mining and shipbuilding
Midlands (eg Birmingham) - engineering
South-east (eg Kent, Sussex)- agriculture
South-west (eg Devon)- agriculture (Cornwall- tin)
By how much had industrial cities grown by 1851?
29 cities with populations over 100,000, and London had population of 2.3 million
What was back to back housing?
One back wall for two properties, introduced by factory owners near to factories for accommodation for industrial workers- allowed cities to grow (eg Manchester from 25,000 in 1772 to 182,000 in 1831)
How did the governmental law impact industrialisation?
Laws introduced by mainly lassiez-faire government (eg Combination Acts 1799-1800 and Master and Servant Act 1823) to ensure workers were not a barrier to industrialisation
What did the Municipal Corporations Act of 1835 do?
Removed local council powers from oligarchies who could take control of local utilities like water and sewage, so that public works were undertaken by private companies