3. RAILWAYS
Richard Trevithick: 1804 – used steam to power a railway at
Penydarren ironworks, Merthyr Tydfil (Wales).
George Stephenson: 1825 – Stockton to Darlington Railway; 1830 –
Manchester to Liverpool Railway.
Isambard Kingdom Brunel: built Great Western Railway.
Investment: people invested in railway companies in hope of making
profits; railways provided faster and cheaper transport, reducing price
of food and other goods.
4.
5. RAILWAYS cont.
Development in Britain: by 1900, the railway system in Britain covered
most of the country.
Development in France: began after 1852; by 1900 the French network
was still smaller than Britain’s.
Development in Germany: began in late 1830s; led to improvements in
trade and industry.
Development in Russia: had a large network by 1900, but had little
impact on the economy because of vast size of the country.
6.
7. TARIFFS AND TRADE
Before the Industrial Revolution: trade was largely local; farmers
supplied local markets.
Impact of railways: opened up new markets, e.g. farm produce could
be transported in large quantity to distant towns; food shortages
became less frequent; prices fell.
Britain: no internal tariffs.
France: Napoleon abolished internal tariffs – made trade with France
cheaper.
Germany: consisted of different states, each of which charged tariffs on
goods moving between them; 1834 – Zollverein removed tariffs
between 18 member states; this allowed more rapid industrialisation;
Prussia became the leading economic state.
8.
9. CAPITALISM
Investment: people invested in industrial or transport projects in the
hope of making profits.
Joint Stock Companies: protected investors against possible losses on
their investment.
Banks: larger banks replaced smaller ones.
‘Old’ and ‘new’ money: old money = money made from ownership of
land; new money = money made from industrial, transport or financial
investments.
10.
11. RESISTANCE TO CHANGE
Skilled craftsmen: opposed mass production as a threat to jobs; Luddites
smashed machines.
Nobility: suspicious of the effects of industrial change, which undermined
their social status.
Landowners: objected to railways crossing their land.