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When the coin in the coffer rings, the soul from Purgatory springs. This jingle was most likely spoken by?: a) Johannes Tetzel.
b) Martin Luther.c) John Calvin.d) John Knox.e) Sir Thomas More.
• Usually young men, middle class• Typically of the
Protestant Work Ethic• Used capital from
the Bank of England – (gov’t)
• House of Commons favored industrialism – Bubble Act repealed -return of joint-stock co.– Lowes Act - limited liability for businesses (LLC)– Metallurgy businesses increase - why?• England = #1 textile producer
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• Steam Engine --> transition from wood to coal
• Invented by Thomas Savory and Thomas Newcomen
• James Watt = first efficient steam engine
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• Coal mining + steam engine = heavy industry of iron and more machines
• Henry Cort - puddling furnace
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“Transportation Revolution”
• Canal systems made
• John McAdam - what does he invent?
• Robert Fulton’s Steamboat (1807)
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Railroad
• 1803 - “Steam Wagon”
• 1825 - First true locomotive– What does it
do? What are the benefits?
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By 1850...
• Great britain makes 2/3 world’s coal, 1/2 world’s iron, GNP rises 350%, income increases 100%
• Holds industrial fair at Crystal Palace