Progress and Poverty: An Economic and Social History of Britain, 1700-1850

By M. J. Daunton | Go to book overview

or inappropriate banking structure. The debate over monetary policy is also more complicated than a simple neglect of industry in order to benefit the financial interests of the City. Resumption was intended, in fact, to check the power of financiers and the Bank, and to benefit genuine trade and enterprise at the expense of speculation and 'fictitious capital'. Of course, intention is not the same as outcome, for the distinction between genuine and fictitious capital was never clear-cut. The debate over banking policy was part of a wider concern for economic policy after the Napoleonic wars which involved a complicated interplay between monetary policy, taxation, and protection. The government's policy was designed to maintain balance in the economy, in the belief that long-term growth was not feasible; it was concerned that the growing population should be fed, and was worried about subsistence. The danger was that policy might be pushed in the direction of supporting the class interests of landowners against industry and workers, by sustaining high food prices through the corn laws, and by rejecting the income tax in 1816, which made the fiscal regime much more regressive. The debate over these policies was at the heart of British politics until the repeal of the corn laws in 1846, and the consensus on tax policy which emerged in the early 1850s.


NOTES
1.
R. Cameron, "'England, 1750-1844'", in R. Cameron (ed.), Banking in the Early Stages of Industrialization: A Study in Comparative Economic History ( New York, 1967), 58; and "'Scotland, 1750-1845'", in ibid., 72.
2.
S. G. Checkland, Scottish Banking: A History, 1695-1973 ( Glasgow, 1973), 115.
3.
Ibid. 84, 240, 426.
4.
R. Cameron, "'Banking and Industrialization in Britain in the Nineteenth Century'", in A. Slaven and D. H. Aldcroft (eds.), Business, Banking and Urban History ( Edinburgh, 1982), 106; R. Cameron, "'Scotland, 1750-1844'", in Cameron (ed.), Banking in the Early Stages of Industrialization, 75.
5.
A. Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (repr. 1937), 281 (book ii, ch. ii).
6.
L. S. Pressnell, Country Banking in the Industrial Revolution ( Oxford, 1956), 6.
7.
Ibid. H.
8.
C. Munn, "'The Development of Joint-Stock Banking in the British Isles in the Nineteenth Century: A Comarative Approach'", unpublished paper presented to Economic History Society; M. Collins, Banks and Industrial Finance in Britain, 1800- 1939 ( 1997), 28.
9.
P. Ollerenshaw, "'The Development of Banking in the Bristol Region, 1750-1914'", in C. E. Harvey and J. Press (eds.), Studies in the Business History of Bristol ( Bristol, 1988); Collins, Banks and Industrial Finance, 28.
10.
Presnell, Country Banking, 77.
11.
R. Fulford, Glyn's, 1753-1953: Six Generations in Lombard Street ( 1953), 59.
12.
M. Collins and P. Hudson, "'Provincial Bank Lending: Yorkshire and Merseyside, 1826-40'", Bulletin of Economic Research, 31 ( 1979), 77.

-358-

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Progress and Poverty: An Economic and Social History of Britain, 1700-1850
Table of contents

Table of contents

  • Title Page iii
  • Acknowledgements vii
  • Contents ix
  • List of Figures xi
  • List of Tables xiii
  • Chapter I - Introduction: the Possibilities of Growth 1
  • Notes 19
  • Further Reading 21
  • Part I - Agriculture and Rural Society 23
  • Chapter 2 - Agricultural Production: the Limits of Growth? 25
  • Conclusion 56
  • Notes 57
  • Further Reading 58
  • Chapter 3 - The Rise of the Great Estates and the Decline of the Yeoman 61
  • Notes 87
  • Further Reading 88
  • Chapter 4 - Open Fields and Enclosure: the Demise of Commonality 92
  • Notes 117
  • Further Reading 119
  • Part II - Industry and Urban Society 123
  • Chapter 5 - Diversities of Industrialization 125
  • Notes 145
  • Further Reading 146
  • Chapter 6 - The Domestic System of Manufactures 148
  • Conclusion 169
  • Notes 170
  • Further Reading 171
  • Chapter 7 - The Coming of the Factory 201
  • Chapter 8 - Furnaces, Forges, and Mines 206
  • Conclusion 232
  • Further Reading 234
  • Chapter 9 - Capital and Credit: Financing Industrialization 260
  • Further Reading 261
  • Part III - Integrating the Economy 265
  • Chapter 10 - Integration and Specialization 267
  • Notes 283
  • Further Reading 283
  • Chapter II - Transport 285
  • Conclusion 314
  • Notes 314
  • Chapter 12 - Merchants and Marketing 318
  • Conclusion 338
  • Notes 338
  • Further Reading 339
  • Chapter 13 - Banks and Money 342
  • Conclusion 357
  • Notes 358
  • Further Reading 359
  • Further Reading 361
  • Further Reading 382
  • Further Reading 383
  • Part IV - Poverty, Prosperity, and Population 385
  • Chapter 15 - Births, Marriages, and Deaths 387
  • Notes 415
  • Further Reading 416
  • Chapter 16 - The Standard of Living and the Social History of Wages 441
  • Chapter 17 - Poor Relief and Charity 447
  • Notes 471
  • Further Reading 472
  • Part V - Public Policy and the State 475
  • Chapter 18 - The Visible Hand: the State and the Economy 477
  • Notes 502
  • Further Reading 503
  • Chapter 19 - Taxation and Public Finance 507
  • Further Reading 530
  • Further Reading 530
  • Notes 557
  • Further Reading 558
  • Chapter 21 - Conclusion 565
  • Notes 566
  • Chronology 567
  • Statistical Appendix 573
  • Index 591
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