Unit 6 The Industrial Revolution And Its Impact On European Society 1/28

Front 1

John Cockerill

Back 1

-was a Belgian entrepreneur
- Born at Haslingden, Lancashire, England
-he was brought by his father William Cockerill to Belgium where he continued the family tradition of building wool processing machinery
-An aggressive businessman who established a highly profitable industrial plant at Seraing in southern Belgium in 1817
- purchased the old summer palace of the deposed bishops of Liege in southern Belgium
-He converted the palace into a large industrial enterprise, which produced machinery, steam engines, and then railway locomotives
-Many British workers came over illegally to work for him

Front 2

Tariffs

Back 2

-A tax imposed on imported goods and services
-Tariffs are used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers
- Tariff protection A support system by the government—laying high tariffs on other countries' imports to protect one's own economy

Front 3

Joint-Stock Investment Bank

Back 3

A bank created by selling shares of stock to investors. Such banks potentially have access to much more capital than private banks owned by one or a few individuals

Front 4

Ruhr Valley

Back 4

-originally German controlled coal-rich valley
- later France-occupied
-leading miners to go on strike
- resulting in the German government in printing additional money to pay the miners, leading to inflation

Front 5

Societie Generale

Back 5

-The first joint-stock investment bank

Front 6

Harpers Ferry

Back 6

-Harpers Ferry Arsenal Factory that built muskets with interchangeable parts.