21- INdustrialization in Continental Europe- HOw after 1815 did continental countries respond to the challenge of industrialization

What were the continents 3 major advantages over britain after 1815

1. They had a rich tradition of putting-out enterprise, merchant capitalists, and skilled urban artisans tha gave continental firms teh ability to adapt and surve in teh face of enw market conditions

William Cockerill

A Lancashire Carpenter He and his sons built a cotton spinning equipment in French occupied belgium

What did list denounce

BRitish doctrine of free trade as a part of Britain's attempt to dominate the entire world.

What played a larger role in the continent then in Britian

Banks!!!

These corperate banks became important in

Germany and France They worked in collaboration with teh government and established many railroads and companies working in heavy industry, which were also made into limited liability cooperations

Prussian government

Government guarenteed that the state treasury would pay interest and principle on railroad bonds if the closely regulated private companies could not do so Capital was raised due the the absence of risk

How about in the end of teh 18th cneutry

IN Britian, no wars founght in their land allwoed them to contiue the momontum they had in teh rest of the 18th century

What does this data show us

In 1750, all counrteis close together and britain only slightly ahead of France in 1800, Britain opened up noticably and led over the continent, accelerated to the 1830s and reach full maturity in the 1860s

What did the limited liability int hese banks do

It attrached a large amount of shareholders large and small These banks got lots of resources for investment in big companies and became industrial baks, premoting industrial development

economic nationalism

Policies aimed at protecting and developing a country's economy

French

Teh state took care of the expense of acquiring and the laying the roadbed, including bridges and tunnels State guarenteed private companies debts that helpted build the railroad system

What was another major force in continental industrialization

The Governments, which helped business people overcome their difficulties

What is the only country that surpassed Great Britain

The UNited states by 1913

What led to a period of economic growth in teh continent between 1850 and teh financial crash of 1873

The efforts of skilled workers, entreprenuers, governments, and industrial banks

What was the Credit Mobilier's effect?

The money from it was used to build railroads all across France and even Europe itslef.

As result of these developments

The railway networks were compelte in western and much of central Europe Continental countreies mastered the indsutrail technologies that had been developedc by the British, closing the gap between GB and the COntinent opened by the INdsutrial revolution

What was made appenerent

The variations in the timeing and extent of industiralization in the continental powers and the United states

Accoding to what List wrote,

The wider the gap between teh backward and advanced nations becomes, teh more dangerous it is to remain behind

What else did the continent do after 1815

They paid for building roads and canals to imporve transporation BOre most of the cost of building railroads

The 2 belgian banks

They received permission from the Government to establish themselves as cooperations with limited liability

What happened when Britain realized the value of their technical discoveries

They tried to keep it a secret until 1825, it was illegal for artisans and skilled mechanics to leave Britain until 1843 teh export of textile machinery and other equipment was forbidden But many talented people slipped out and introduced new methods abroad

In the continent

Upheavals like the French Revolution began Disrupted trade, created runaway infaltion, and fostered social anxiety It cut off comunications between GB and the Continent, limiting the continents use od British technology

Per-capita comparison of levels of industiralization

a comparison of how much industiral porduct was produced on average for each person in a given country in a given year

List particularly pushed for

a highly protective tariff that would encourage infant industries and allow them to devlop and eventually hold their own agianst their more advanced British counterparts

Germany and United States

had a spectacular rise in industrialization after 1860

What were the difficulties now faced by continental businessmen that slowed the spread of modern industry on the continent

-They could not afford the complex machinery developed in Great BRitain -Few mechanics outside of britain understood their technology -Shortage of workers accustomed to working in factories

In teh 1830s

2 belgian banks pioneered a new direction

Fritz Harkort

A business pioneer in teh German Machinery industry Set up shop in an abandoned castl Felt a almost religous calling to become the watt of germany

Tariff protection

A government's way of supportin and aiding its own economy by laying high taxes on imported goods from other countries, as when French responsed to cheaper British goods flooding their country by imposing high tariffs on some imported products.

Belgium

Acheived independence from Netherlands and rich in coal and iron, adopted Britain's enw technology

The 18th century on the continent was a time of

Agricultural improvement Population increase expanding foreign trade Growing cottage industry

What country took the lead in the continent?

Belgium Constructed a state owned system State owned railroads stimulated the development of heavy industry, making it an industrial leader

Work of a swiss Scholar

Compares percapita levels of industrialization in serveal countries from 1750 to 1913

sencond advantage

Continental capitalists did not need to develop their own technology; they could just borrow the new methods developed in Great BRitain as well as engineers and some of teh financial resources these countries lacked

What was the most famous bank

Credit Mobilier of Paris, founded by Issac and Emile Pereire, two young jewish jounalist from Bordeaux It was advertized extensively It used the savings of thousands of small investors and seveal big ones

What countreis were key indicators of modern industrial development

France, Belgium and Germany These developments included -railway mileage -iron anc coal production -Steam engine capacity These icnreased yearly by rates of 5 to 10%

Friedrich List

German journalist and thinker The Growth of modern industry in his eyes was of the upmost importance because manufacturing was a primary means of increasing people's well-being and relieving poverty

What led to HArkort's downfall

LAcked skilled laborers Had to import think iron boilers from enlgand that were expensive he stilled sold and built engines though

What about in non-western coutnries like China and India

Large and tragic decreases in industrialiation, they became deindustrialized

describe what cause him to go out of business

Large financial losses fr himself and partners Forced out of his company by his finantial bankers who cut bank operations to reduce losses This shows the difficulty of industrialization`

Zollverein

List supported teh formation of a customs union, or Zollverein amung the separate german states to allow goods to move between german member states without tariffs while erecting a sigle tariff against other nations

National System of Politcal economy

List's work that focus on railroad building and the tariff being things that were practical for governemtns to put in place/fund

Previously, all banks in Europe were

Private, organized as secretive partnerships The possibility of unlimited finantial loss made these banks conservative and content to deal with only a few rich clients and a few big merchants. They avoided industrial investment since it was risky

John Cockerill

Purchased a summer palace and made it into a large industrial enterprise produced machinery steam engines and then railway locamotives He even established modern iron works and coal mines

South and eastern Europe

Started industrialization that north and west Europe Made progress in the 1880s due to the rise of Austria, HUngary, Italy and Russia suggests

Limited liability

Stockholders could now lose onlt their original investments in the bank's common stock and could not be forced by the courts to pay for additional losses out of other property they owned if the bank went bankrupt

The substantial increases in industrialization over all allowed for

an increase in per capita industrialization levels in teh 19th century

What can give us an overview as to what happened in european industrialization

comparative data on industrial production in different countries over time

When teh pace of British industry increased

continental business men began to adopt new methods as they proved pofitable Teh continent followed close behind britian

France

developed factory production more gradually no revolutionary growth of industrial output It had a good pattern of early industrial growth

This development thus

magnified the exsisting inequalities btween Europe and teh rest of the world

Affect of his new industrial plant

many skilled British workers illegally came to work for him and brought on the lasted technilogical advances from BRitain

A backward of agicultural nation was

poor weak and unable to defend themselves to maintain political independence

By the end of the 18th century

several European countries as well as teh united states industrialized their economies to a considerable by variable degree

This meant that

the process of western industrialization proceded gradually with uneven jerks and national and regional variations that are hard to explain by historians. They want to find out to help find answers for poor countries looking to indsutrialize themselves

Their latest findings suggests that

their were alternate paths to industrialization in the 19th century that could be applied today

third advantage

they had strong independent governments that did not fall under foreign political control that could use their power to promote industry and catch up with britain

Continental industrialization brough on

uneven but substantial expansion of the handicraft industry in both rural and urban areas for a time since the wealth of the middle class increase and allowed them to demand silk scarves, embroiedered needlework, perfumes and fine wines