• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Why was Consett Steel Works able to become so successful?

Extracts from this document...

Introduction

Why was Consett Steel Works able to become so successful? In 1841, the area of Consett had a population of only 192 people. This community had been born and bred in the area which is evident from the Census done at the time for example, Thomas Little's family lived in Delves where he worked as a blacksmith. Most of the populace relied upon the land for employment working as agricultural labourers, like Thomas Reed who was a farmer. The Census also shows that there were not many people moving to the area as there were not the jobs - the steel works was not operating at this point on a large scale. All that would change within the space of ten years. Consett, like the rest of Britain at this time, would undergo a massive change that saw employment move from agriculture to industrial. The steel works itself would increase in size which in turn encouraged migration to the area as people moved to find work. For example, the Mahon family who relocated to Consett from Ireland. Again this was similar to other parts of Britain during the Industrial Revolution, as towns sprung up overnight due to the increase in people which led to more houses which led to transport links etc. ...read more.

Middle

It is fair to say that at this point Consett Steel works was not considered to be a success having accumulated massive debts that had almost forced them to close due to bankruptcy - despite having the raw materials needed, despite rapidly growing in size and despite the huge production demand. A third factor in the success story of Consett Steel Works is the involvement of the Stockton and Darlington Railway. As already mentioned, the plant nearly went bankrupt in 1857. The deal struck with the London Banks may never have come about without the insistence of the railway company. They had invested in the area due to the iron works and transported cheap coal and limestone from the Wear Valley to the plant. The Stockton and Darlington Railway further expanded in the area setting up more railway lines which attracted the growing passenger trade - similar to other industrial parts of Britain. As a result, the closure of the Iron Works would have been a financial disaster to the Railway Company. A fourth factor in the success of Consett Steel Works was cheap supplies of coal. The Consett Iron Company purchased massive amounts of high quality coal from mine owners who could not 'shift' their produce due to high transport costs and therefore had to slash their prices in order to encourage trade. ...read more.

Conclusion

For example, Consett had a history of steel making not to mention John Nicholson's discovery of iron ore samples - evidence that both the raw materials and skills were available in the area. The investments and commitment of the Richardson brothers in the project ensured the development and continuation of the plant. The business links with the Stockton and Darlington Railway meant that the London Banks did not close the Iron Company. These reasons alone did not ensure Consett was a success. The two most important reasons as to why Consett Steel Works was able to become so successful was the fact that the plant had cheap supplies of coal and cheap labour. By buying huge quantities of coal in bulk and keeping transportation costs low, they were able to spend a fraction of the cost compared to their competitors - which enabled them to reinvest this saving into expanding the plant. By employing cheap labourers - such as the Irish - again the plant could save money which consequently increased their profit. These two factors made it possible for the plant to expand in size and production giving them the edge over any competition and ensuring that Consett Iron Company became the biggest and most successful steel works of the time. ?? ?? ?? ?? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE History Projects section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE History Projects essays

  1. To what extent was the Irish Famine merely an excuse for Peel to repeal ...

    As Disraeli amongst others such as Bentick and Miles attacked Peel his speeches about the repeal became sharper, and he would undoubtedly have gained a reforming zeal that made him feel ready for the repeal with such strong support from the masses.

  2. Roosevelt's New Deal

    one of many around America at the time, but the fact that it should be put near a government relief office, portrays a possible amount of dark humour on behalf of the photographer. Of-course only the negative interpretation of the source is mentioned, whereas really it depends solely on who

  1. Am I not a Man and a brother?

    I would much rather I got tucked into the sea than mother or sister do. But sometimes, I envied the dead - alone in a foreign country as a slave working like an ox belongs to the evil whites. What is the point of life?

  2. Sumer project

    But then this changed and there was another education for the wealthier families of Sumer who paid for their education. One of the Sumerian schools is known as the Edubba, this means tablet house. As men in Sumer dominated the woman most of the students were men and boys.

  1. How far did the development of the needle industry affect the working conditions of ...

    clock evening on the first Monday after 15th November then to breakfast previous to coming and come at 8 of clock and leave at 8 of clock evening. Time daily allowed- Breakfast 1/2 hour - Dinner 1 hour - Teatime 1/2 hour.

  2. SLAVE TRADE PROJECT

    The drunken crewman would also kill them if slaves disobeyed them. > SLAVE AUCTIONS When the slave ship docked, the slaves would be taken off the ship and placed in a pen in the figure. There they would be washed to make them look healthier and make as much money as possible.

  1. Evacuation was a success

    Weight (kg) Body Mass Index (BMI) 120 9 14 3 Female 1.59 50 19.8 7 9 14 10 Male 1.65 45 16.5 19 9 14 7 Male 1.62 40 15.2 31 9 14 6 Male 1.70 85 29.4 93 9 14 4 Male 1.43 60 29.3 106 9 14 5 Male 1.62 42 16.0 108 9

  2. WHY HAS TERRORISM BECOME SUCH AN IMPORTANT ISSUE OVER THE LAST 40 YEARS?

    The negative results were like Bloody Sunday in which there was a peaceful demonstration where 13 unarmed protestors were shot dead by British paratroopers. This didn?t help the British at all but made the Irish people very angry and made them want to support and join the IRA.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work