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7 Cards in this Set

  • Front
  • Back
cholera, typhus, typhoid
Some of the negative consequences of the Industrial Revolution that happened mostly in the cities.
Many people who contracted these and other diseases were poor and had terrible living conditions, such as many immigrants.
Nantucket, Mass
New Bedford
Two cities in the Northeast U.S. that had relied on fishing as their only industry.
Whale oil for lamps
Whale bones for corsets
Ambergris for cosmetics

It was bad for a city to rely on one industry only.
Part of a whale that was used in cosmetics.
Mostly in the Northeast, where fishing was relied upon as the only industry.
Samuel Slater
Had worked in English textile mills.
An industrial spy (England guarded its secrets) who actually memorized the power loom plans and came to America under a fake name.
Paul Tucket
Set up the first textile mill, in Rhode Island
The first mills were small and not very profitable because it was too risky for people to invest.
This changed with the introduction of limited liablity.
limited liability
The most significant development in the emergence of corporate capitalism.
Before, people were hesitant to invest in textile mills because they were liable for all they owned, not just what they had invested.
With limited liability they were only responsible for what they had invested.
Helped revolutionize the textile industry.
Francis Cabot Lowell
headed a group of wealthy investors who saw potential in the textile industry and established the first cotton manufacturing plant in the world.
Everything was done under one roof
Showed that, under limited liability, one could make a lot of money with a small investment