Just to let you know, this is only a practice essay and I am not cheating. Please read it (sorry its so long) and mention any improvements I can make on it. It is about Richard Arkright and why Cromford was such a good place to build his mill. Thank you so much in advance.
Here is the essay:
Arkwright built his first factory in 1771. This is considered the first “real” factory in the world. Needless to say, it made Arkwright a fortune, and when he died aged 59 in 1792, he had a vast fortune of half a million pounds. In this essay I am going to write about why Cromford was such a brilliant place for the factory.
One of the reasons was that there was a market nearby. I consider this to be one of the most important, because without the markets to trade the goods, Arkwright would have made no money at all, thus he wouldn’t be able to hire a labour force. Even the most ingenious of businesses is useless if it is not profitable! The money earned from selling the goods could be spent on labour to expand his factory and make it even more profitable. However, it can still be argued that markets are not the most important factor, as it isn’t a primary cause. For example, markets would have been useless if Richard Arkwright had no money to start the factories, or no transport to move the goods to the markets!
Cromford had a stream in it, so there was a source of power. Arkwright’s machine, the spinning frame, needed huge amounts of power to run. Therefore, simply horse power was not enough. Without the power produced by the water wheels, Arkwright’s machinery would have been all useless. The power in the factory would have been crucial for the running of the machinery, without power the machines would not work. Power can also be linked with labour, as workers improved the way machine worked by doing jobs it could not do, but still change the quality of the goods, for example mending broken threads, and it can be linked with money, because with no power to produce cloth, no money would be made. Although it could be argued that without the help of money, to “rent the power”, and a labour force to operate it, the business would have been disastrous.
Money is crucial in this equation to success. Hence Jeremiah Strutt and the bank, which both financed Arkwright’s business played a crucial role. Strutt late became Arkwright’s partner when he went to Nottingham in search of someone to help finance his program. Without any money the factory would not have even existed, and money also helped to pay the labourers who ran the machines, as well as renting the power. Money is therefore linked with Labour and power. Some people though could argue easily that money is not as important as some of the other factors, for example, money wouldn’t have helped if there were no roads to transport the yarn or cotton to various places, such as Nottingham, where it could be further sold and a profit made. Money would also have been used when Arkwright bought the patent for his invention, and this would have contributed to his profit.
Another reason is that Cromby, was fairly near to the big towns like Nottingham, a town where there was a big number of hosiery makers, in which yarn was needed. Although the roads where not brilliant, there was a canal nearby to Arkwright’s factory, one which large amounts of yarn or cloth could be transported. Transport was important as no transport would mean goods couldn’t be moved to parts of the country where demand was high. Transport can be linked to money , money can be earned form selling in areas of high demand, and in the end, money can lead to a lot of different components. However, it can be said that transport is not important, this is because even if the transport was amazing, and goods could travel quickly up and down the country, there are still vital things missing in the equation, like a labour force to operate the machines.
Last but not least, a good labour force is important. When Arkwright first moved to the country, it was rural and there were no workers to work for him. So he attracted them to his mill by offering good houses for families. Although the machines did much of the work, the labour contributed greatly, as they operated the machines and weaved the yarn into cloth, something that no machine had been invented for. However, labour can be mentioned as only a secondary factor, it could easily be run by just one person. Labour is linked with Money, because the worker will get paid.
In conclusion, although the factory probably wouldn’t have been profitable if any of the components above had been missing, I believe that money was probably the key reason for his success. Arkwright needed money to hire labour, arrange transport, and run and build machinery in Cromford. Hence, it is linked, either indirectly or directly to all the components, and made it into such a successful business.
Here is the essay:
Arkwright built his first factory in 1771. This is considered the first “real” factory in the world. Needless to say, it made Arkwright a fortune, and when he died aged 59 in 1792, he had a vast fortune of half a million pounds. In this essay I am going to write about why Cromford was such a brilliant place for the factory.
One of the reasons was that there was a market nearby. I consider this to be one of the most important, because without the markets to trade the goods, Arkwright would have made no money at all, thus he wouldn’t be able to hire a labour force. Even the most ingenious of businesses is useless if it is not profitable! The money earned from selling the goods could be spent on labour to expand his factory and make it even more profitable. However, it can still be argued that markets are not the most important factor, as it isn’t a primary cause. For example, markets would have been useless if Richard Arkwright had no money to start the factories, or no transport to move the goods to the markets!
Cromford had a stream in it, so there was a source of power. Arkwright’s machine, the spinning frame, needed huge amounts of power to run. Therefore, simply horse power was not enough. Without the power produced by the water wheels, Arkwright’s machinery would have been all useless. The power in the factory would have been crucial for the running of the machinery, without power the machines would not work. Power can also be linked with labour, as workers improved the way machine worked by doing jobs it could not do, but still change the quality of the goods, for example mending broken threads, and it can be linked with money, because with no power to produce cloth, no money would be made. Although it could be argued that without the help of money, to “rent the power”, and a labour force to operate it, the business would have been disastrous.
Money is crucial in this equation to success. Hence Jeremiah Strutt and the bank, which both financed Arkwright’s business played a crucial role. Strutt late became Arkwright’s partner when he went to Nottingham in search of someone to help finance his program. Without any money the factory would not have even existed, and money also helped to pay the labourers who ran the machines, as well as renting the power. Money is therefore linked with Labour and power. Some people though could argue easily that money is not as important as some of the other factors, for example, money wouldn’t have helped if there were no roads to transport the yarn or cotton to various places, such as Nottingham, where it could be further sold and a profit made. Money would also have been used when Arkwright bought the patent for his invention, and this would have contributed to his profit.
Another reason is that Cromby, was fairly near to the big towns like Nottingham, a town where there was a big number of hosiery makers, in which yarn was needed. Although the roads where not brilliant, there was a canal nearby to Arkwright’s factory, one which large amounts of yarn or cloth could be transported. Transport was important as no transport would mean goods couldn’t be moved to parts of the country where demand was high. Transport can be linked to money , money can be earned form selling in areas of high demand, and in the end, money can lead to a lot of different components. However, it can be said that transport is not important, this is because even if the transport was amazing, and goods could travel quickly up and down the country, there are still vital things missing in the equation, like a labour force to operate the machines.
Last but not least, a good labour force is important. When Arkwright first moved to the country, it was rural and there were no workers to work for him. So he attracted them to his mill by offering good houses for families. Although the machines did much of the work, the labour contributed greatly, as they operated the machines and weaved the yarn into cloth, something that no machine had been invented for. However, labour can be mentioned as only a secondary factor, it could easily be run by just one person. Labour is linked with Money, because the worker will get paid.
In conclusion, although the factory probably wouldn’t have been profitable if any of the components above had been missing, I believe that money was probably the key reason for his success. Arkwright needed money to hire labour, arrange transport, and run and build machinery in Cromford. Hence, it is linked, either indirectly or directly to all the components, and made it into such a successful business.