The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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CREDIT AND CRISES 689 country could only be flourishing when her neighbours were A.D. 1776 sufficiently well off to be good customers for her goods. So long as the exhaustion, due to the war, continued on the Fuctua- Continent there was little room for fresh activity at home. oA Agricultural land will recover from the devastating effects of war in a year or two, if seed and stock and labour are avail- able’, but trade connections may not be easy to reestablish, and purchasing power does not recuperate at short notice. 257. It would be impossible to follow out the rami- fications of the influence of these political changes in detail, but an attempt may be made to point out some of their effects on the main factors in production. The changing Desig conditions of war and peace had grave results upon the industry supply of materials for some of the staple trades. Spanish sufere wool was used for many fabrics, and certain branches of “tof trade relied almost entirely on Saxony wool. The inter- ruption of communications—apart from all questions of Napoleonic policy—could not but cause distress. The cotton trade, which depended exclusively on imported materials, was on the whole well supplied by English shippers; but the loss of Tobago® was severely felt at the time, and the war of 1812, by cutting us off from Carolina, caused a serious scarcity. The influence of the changing political conditions in from the ey opening and closing foreign markets was very noticeable at of sales, the time?, though the development of clandestine trade was so great, that the actual distress due to this cause was probably less than might have been anticipated. There seem to have been curiously discriminating changes of foreign demand, for 1 J. 8. Mill, Principles of Political Economy, Bk. 1. v. § 7. 2 Parl. Hist. xxi1. 778. 3 The war had something to do with bringing in the low rates of spinning in 1793. “In several villages where the spinners could get a shilling for jenny- spinning before the war they were taken off threepence when the war broke out. [n these very villages, one of which I have lately visited, in Huntingdonshire, five- pence are now taken off, in some sixpence, and even sevenpence. So that in many places the poor, if they can possibly help it, will not spin at all. There is indeed no sale for the yarn, and on conversing with a gentleman who has large concerns in the wool trade and in whose county I met with many spinners who had seven- sence in the shilling taken off, he assured me he should lose in the course of the ast six months a thousand pounds by the war.” The Complaints of the Poor People of England, 1793. Brit. Mus. C. T. 104. 11. ~~

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