How important were the railways to Great Britain?
Bookmark this page

• There was a growth in the capital market: many people who had never invested before did so with railways.
• The industry employed large amounts of labour. However there were peaks and troughs. It could go as high as 250,000 but dip as low as 40,000.
• This increased spending power then led on to the multiplier effect as it created jobs for bankers, lawyers etc.
• The demand the railways had for iron and steel was huge, and it also encouraged the technological development in the iron industry. With a steady increase in demand at home the overseas markets could be developed. This was vital for the growth of the South Wales iron and steel industry.
• The demand for coal grew, and so did the services required from the mechanical and civil engineers.
• The miles of track available went from 6,000 miles in 1850 to 13,500 by the late 1860s. Every mile of track needed more than 300 tons of iron.
• The huge fruit and veg industry around the Vale of Evesham in central England grew rapidly as the produce could be inside the major cities within hours.
• Obviously the canal operators/investors and the owners of coaching inns suffered. Coastal shipping was also hit.
• The suburb became the feature of the city. Railway towns like Swindon and Crewe grew, and the working class became more mobile as there was at last a cheap form of transport other than walking.
• The growth of the railway was largely unchecked throughout the period. There was regulation in an act of 1844, but little thereafter, in spite of concerns about safety and company concentration.
• There was a Royal Commission in 1865, which reported in 1868, recommending few changes.
• With over 200 MPs and Peers involved in railways, as directors and so on, there was little likelihood of demand or desire to reform.

Other Notes in this Category

1. How important were the railways to Great Britain?
2. To what extent was this a boom time for British agriculture?
3. To what extent was this a period of industrial boom?
4. What was the impact of the repeal of the Corn Laws?
5. What were the main developments in agriculture during this period?
6. What were the main weaknesses in British agriculture during this period?
7. Why was this such a period of growth for British industry?

Didn't find this useful?

• Visit Coursework.Info for over 14,000 GCSE, A-Level and University Essays