Industrialists and Philanthropists of the Industrial Revolution
Industrialists are the people who own and develop industry. They were the men who ran the factories of the Industrial Revolution, making their fortunes as a result of their ingenuity, grasp of market forces or good luck. many industrialists were greedy men, with little regard for the well being of the workforce, others were considered to be good employers who took the health and welfare of their workforce very seriously.
A brief introduction to two industrialists.
Samuel Greg built a large cotton mill in Styal, south of Manchester. His investment was around £16,000, a lot of money in the late 18th century. His factory was built on land rented from the Earl of Stamford and Warrington and was manned largely by children from the local workhouses. Greg’s vision led to him becoming a very wealthy man.
Titus Salt made his fortune in the Wool trade. He owned a number of mills in Bradford. Salt saw the possibilities of a different type of wool, Alpaca, and established a buying system that ensured that he was the only person able to produce Alpaca wool in this country. His gamble was a definite success and he used his wealth to build a massive new factory and village for his workers six miles outside of Bradford. His choice of location was ideal. The site had access to the River Aire, was next to the canal and later had access to the Railways. Salts mill was the largest in Europe at the time. Salt made a fortune from Alpaca wool, clothing made from which became the most desirable garments of the era.