Where did capital come from , in chapter age of industrilisation


Where did capital come from , in chapter age of industrilisation

Blanche Blanche 2 years 2021-08-30T11:17:33+00:00 0

Answers ( )



    Before the Industrial Revolution

    • Proto-industrialisation was a phase when there was large-scale industrial production for an international market which was not based on factories.

    • Proto-industrial system was part of a network of commercial exchanges.

    The Coming Up of the Factory

    • By the 1730s, the earliest factories in England came up.

    • The first symbol of the new era was cotton.

    → A series of inventions in the eighteenth century increased the efficacy of each step of the production process.

    • Richard Arkwright created the cotton mill.

    The Pace of Industrial Change

    How rapid was the process of industrialisation?

    • The most dynamic industries in Britain were clearly cotton and metals.

    • The new industries could not easily displace traditional industries.

    • Technological changes occurred slowly because:

    → The New technology was expensive.

    → The machines often broke down and repair was costly.

    → They were not as effective as their inventors and manufacturers claimed.

    Hand Labour and Steam Power

    • In Victorian Britain, there was no shortage of human labour.

    • Therefore, industrialists did not want to introduce machines which required large capital investment.

    • Many seasonal industries were also there who usually preferred hand labour.

    • Handmade goods came to symbolize refinement and class

    Life of the Workers

    • Labours were available in abundance in the market which affected the lives of workers.

    • After the busy season was over, workers became jobless.

    • In the early nineteenth century, wages increased but the prices of goods also increased.

    Industrialisation in the Colonies

    The Age of Indian Textiles

    • Before the age of machine industries, silk and cotton goods from India dominated the international market in textiles.

    • A vibrant sea trade operated through the main pre-colonial ports.

    What Happened to Weavers?

    • After the East India Company established political power, they tried to eliminate the existing traders and brokers and establish a more direct control over the weaver.

    • It appointed a paid servant called the gomastha to supervise weavers, collect supplies, and examine the quality of cloth.

    → Loans were provided for purchasing raw material for production.

    → The produced cloth was to be handed over to the gomastha.

    • In many weaving villages there were reports of clashes between weavers and gomasthas because:

    → The new gomasthas were outsiders, with no long-term social link with the village.

    → The price weavers received from the Company was miserably low.

    Manchester Comes to India

    • As cotton industries developed in England, industrial groups pressurised the government to impose import duties on cotton textiles so that Manchester goods could sell in Britain without competition.

    • Also, they persuaded the East India Company to sell British manufactures in Indian markets as well.

    • Thus, cotton weavers in India faced two problems at the same time:

    → Their export market collapsed as market overloaded with Manchester imports.

    → Availability of lower cost cotton goods produced by machines.

    • By the end of the nineteenth century, factories in India began production, flooding the market with machine-made goods which created a problem of weavers.

    Factories Come Up

    • In 1854, the first cotton mill in Bombay came up.

    • In 1855, first jute mill in Bengal came up.

    • By 1862, four cotton mills came up.

    • In 1862, another jute mill came up.

    • In the 1860s, the Elgin mill was started in Kanpur

    • In 1861, the first cotton mill of Ahmadabad was set up.

    • In 1874, the first spinning and weaving mill of Madras began production.

    The Early Entrepreneurs

    • In Bengal, Dwarkanath Tagore made his fortune in the China trade.

    • In Bombay, Parsis like Dinshaw Petit and Jamsetjee Nusserwanjee Tata who built huge industrial empires in India.

    • After colonial power came in power, Indian businessmen were barred from trading with Europe in manufactured goods

Leave an answer


12:4+4*3-6:3 = ? ( )