SHIPBUILDING AND MARITIME TRADE

SHIPBUILDING AND MARITIME TRADE

As an island, Britain has always depended on its maritime trade. With the Industrial Revolution, shipping increased in importance as the distribution of products and the movement of people increased dramatically. The coastal, foreign and slave trades placed new demands on the shipping industry, and brought employment and substantial wealth to the coastal towns. At the same time, the need for shipbuilding and ship repair also grew. The introduction of steam power, the use of iron and steel in shipbuilding and other advances in the design of merchant ships made sea travel faster and more reliable, and by 1819 steamships had extended beyond rivers, and were undertaking ocean voyages. With the export trade dominating markets, and trade routes expanding, shipping became very important for the British economy and was closely linked to the progress of the Industrial Revolution. [4]

Local bankers were often ship owners too, and the imagery of maritime industry and trade that they used on paper money illustrates the significance of shipping, fishing and shipbuilding in local economies. Liverpool, Newcastle and other cities prospered and became increasingly urbanized during the late 18th and early 19th centuries. Docks grew in size, new canals and warehouses were constructed and significant numbers of people moved to major ports. The following cities are indicative examples of the development of shipping and maritime trade during this period and they all issued paper money featuring maritime imagery, thus emphasizing the importance of such trade in the local and national economy.

Sited on the east side of the Mersey Estuary, Liverpool’s proximity to Manchester was crucial to its development as one of the most important English ports.

Similarly, Newcastle had a long history as a centre of trade and shipbuilding, but from the mid-18th century its port became even more important. Sunderland, also in the north east, was another major trading port during the 19th century. [3]

Local industries such as glass, pottery and rope-making, combined with the long established coal trade and shipbuilding, brought new prosperity to the north east, as well as a larger population and an increasingly urban landscape.

Equally significant in the economic prosperity of the time was Bristol. An important commercial port and shipbuilding centre from its earliest days, Bristol profited greatly from the slave trade, and the shipping industry remained crucial to the city’s development throughout the 19th century.