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    Unit 1 Wealth From The Slave Trade

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    The Industrial Revolution transformed Britain's economy and society in the 18th and 19th centuries. Wealth from the slave trade financed this transformation, as British merchants profited greatly and reinvested in factories and inventions. Raw materials from colonies also fueled manufacturing. The new middle class of entrepreneurs and merchants built Britain's industrial capacity through investments made possible by wealth acquired from slavery and foreign trade.

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    Unit 1 Wealth From The Slave Trade

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    The Industrial Revolution transformed Britain's economy and society in the 18th and 19th centuries. Wealth from the slave trade financed this transformation, as British merchants profited greatly and reinvested in factories and inventions. Raw materials from colonies also fueled manufacturing. The new middle class of entrepreneurs and merchants built Britain's industrial capacity through investments made possible by wealth acquired from slavery and foreign trade.

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    Unit 1 Wealth From the Slave Trade

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    The Industrial Revolution transformed Britain's economy and society in the 18th and 19th centuries. Wealth from the slave trade financed this transformation, as British merchants profited greatly and reinvested in factories and inventions. Raw materials from colonies also fueled manufacturing. The new middle class of entrepreneurs and merchants built Britain's industrial capacity through investments made possible by wealth acquired from slavery and foreign trade.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    19 views11 pages

    Unit 1 Wealth From The Slave Trade

    Uploaded by

    18118
    The Industrial Revolution transformed Britain's economy and society in the 18th and 19th centuries. Wealth from the slave trade financed this transformation, as British merchants profited greatly and reinvested in factories and inventions. Raw materials from colonies also fueled manufacturing. The new middle class of entrepreneurs and merchants built Britain's industrial capacity through investments made possible by wealth acquired from slavery and foreign trade.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Unit 1

    Changes
    during the
    Industrial
    Revolution
    in Britain
    Word Bank
    ● Colonies: lands that are politically controlled by a more powerful country
    that is far away
    ● Domestic industry: when goods such as textiles (cloth) are made at home
    by the whole family, on a small scale
    ● Finance: to pay for something
    ● Manufacturing: when goods are made on a large scale using machinery
    ● Merchant: a person who buys and sells goods for a profit
    ● Profits: the money that is made in a business or by an individual after all
    other expenses have been paid
    Wealth from
    the slave
    trade
    Wealth from the slave trade
    From about 1750 to 1850, the way that people lived and earned a living in
    Britain changed. These changes were known as the Industrial Revolution.

    Before the Industrial Revolution, people lived and worked on the land. Some
    goods were also made in domestic industries at home. After the Industrial
    Revolution, people moved to the urban areas and worked in harsh conditions in
    factories.

    These changes happened because Britain was a wealthy country. Wealthy


    British people invested their money in new inventions and factories. A lot of
    this money came from the process of colonisation.
    The importance of colonies
    In the 18th century, Britain had several colonies.

    These colonies became important sources of raw materials, which were


    needed to develop Britain’s manufacturing industries. They also provided
    Britain with new markets where British industries could sell their products.

    Foreign trade increased very quickly as Britain became the most powerful
    trading nation in Europe. Merchant traders became very rich and many of
    them used their money to finance the Industrial Revolution.
    The transatlantic slave trade
    Much of the wealth of Britain in the 18th century came from the slave trade.
    The profits made from the slave trade helped to finance the Industrial
    Revolution. In 1700 Britain traded mainly with Europe.

    This changed during the 18th century as Britain focused on the slave trade.
    Merchants began to trade with the colonies in the West Indies and North
    America.

    This trade was based on slaves and is often referred to as the Transatlantic
    Slave Trade or the ‘triangular trade’.
    Word Bank
    ● Entrepreneur: a person who is willing to take a risk to set up a new
    business
    ● Exploited: treated badly at the expense of someone else who gains
    something
    Transatlantic
    slave trade
    This map shows the
    Transatlantic Slave
    Trade route.

    The Transatlantic Slave


    Trade is often called
    the ‘triangular trade
    Transatlantic slave trade
    Merchants made a lot of money from the slave trade.

    Slave ships left British ports carrying manufactured goods such as pots, pans,
    guns and alcohol. They sailed to West Africa. Here slave traders sold these
    goods to many African chiefs and traders in exchange for slaves.

    The slaves were then shipped across the Atlantic Ocean and sold to
    plantation owners in the West Indies and the American mainland.

    The slaves were sold for about five times what they had cost on the African
    coast.

    This money was then used to buy goods such as sugar, coffee, tobacco and
    alcohol, which in turn was sold in Britain.
    The industrial revolution
    The Industrial Revolution was able to happen as a result of the merchants’
    wealth.

    Merchants invested profits in building the machines and factories that


    developed during the Industrial Revolution. Others used their wealth to
    develop banks. The banks loaned money to entrepreneurs who invented new
    machines or built their own factories.

    These wealthy merchants and entrepreneurs lived in the main towns in Britain
    and formed a new class of people called the middle class.
    Classroom
    activity 5.1

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