FREE BOOKS

Author's List




PREV.   NEXT  
|<   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41   42   43   44   45   46  
47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   67   68   69   70   71   >>   >|  
truments of production, but against the mode in which they are used."[22] III Under the new industrial regime, Robert Owen, erstwhile a poor draper's apprentice, soon became one of the most successful manufacturers in England. At eighteen years of age we find him entering into the manufacture of the new cotton-spinning machines, with a borrowed capital of $500. His partner was a man named Jones, and though the enterprise was successful from a financial point of view, the partnership proved to be most disagreeable. Accordingly it was dissolved, Owen taking three of the "mules" which they were making as a reimbursement for his investment. With these and some other machinery, Owen entered the cotton manufacturing industry, employing at first only three men. He made $1500 as his first year's profit. Erelong Owen ceased manufacturing upon his own account, and became superintendent of a Manchester cotton mill, owned by a Mr. Drinkwater, and employing some five hundred work people. A most progressive man, in his new position Owen was always ready to introduce new machinery, and to embark upon experiments, with a view to improving the quality of the product of the factory.[23] In this he was so successful that the goods manufactured at the Drinkwater mill soon commanded a fifty per cent advance above the regular market prices. Drinkwater, delighted at results like these, made Owen his partner. Thus when he was barely twenty years of age Owen had secured an eminent position among the cotton manufacturers of the time. It is interesting to recall that Owen, in that same year, 1791, used the first cotton ever brought into England from the United States. "American sea island cotton," as it was called from the fact that it was then grown only upon the islands near the southern coast of the United States, was not believed to be of any value for manufacture on account, chiefly, of its poor color. But when a cotton broker named Spear received three hundred pounds of it from an American planter, with the request that he get some competent spinner to test it, Owen, with characteristic readiness, undertook the test and succeeded in making a much finer product than had hitherto been made from the French cotton, though inferior to it in color. That was the first introduction of American cotton, destined soon to furnish English cotton mills with the greater part of their raw material. Owen did not long remain with Mr. Drinkwater. He
PREV.   NEXT  
|<   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41   42   43   44   45   46  
47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   67   68   69   70   71   >>   >|  



Top keywords:

cotton

 

Drinkwater

 
successful
 

American

 

United

 

making

 

States

 
hundred
 

position

 

account


employing

 

manufacturing

 

product

 
machinery
 
England
 

manufacturers

 

manufacture

 
partner
 

called

 

island


islands
 

southern

 
believed
 

brought

 

secured

 

eminent

 

twenty

 

barely

 

results

 
interesting

recall

 

broker

 

introduction

 
destined
 

furnish

 
inferior
 
hitherto
 

French

 

English

 
remain

material

 
greater
 
received
 

pounds

 

planter

 

delighted

 

production

 
request
 
undertook
 

succeeded