Tuesday, February 11, 2014

Francis Cabot Lowell and The Coming In of the Industrial Revolution in America

The Industrial Revolution in the United States in the 19th century was ushered in through the dedication of an American businessman named Francis Cabot Lowell. The city of Lowell, Massachusetts was named after him.

Lowell was born on April 7, 1775 in Newburyport, Massachusetts. His father, John Lowell II, served in the Continental Congress and became a judge for the US District Court for the District of Massachusetts. His mother’s name was Susanna Cabot.

After graduating from Harvard College, Lowell boarded a merchant ship loaded with cargoes to Bordeaux, France. In spite of his family’s anxieties because of the revolution, Lowell spent one year there. With the financial support of his father, Lowell returned to Boston in 1796 to start a business on Long Wharf.

Between 1798 and 1808, Lowell’s overseas trading involved tea and silk imported from China and hand-woven and hand-spun cotton textile from India. In 1802, the Boston harbor was improved when the India Wharf was developed through the efforts of Lowell and some friends. This was the beginning of Boston harbor becoming a major player in Oriental trade.

Later, Lowell’s group developed the Broad Street to cater to retailing. This led Lowell to purchase a rum distillery and imported molasses from the sugar producers in the Caribbean. Lowell spent the next few months improving his rum distillery machineries. The properties he acquired in and around Boston were rented out or resold, earning him lots of profit.

Although United States was already politically independent at that time, its trade relied heavily on imported manufactured goods. However, the conflict US had with European Powers, and the effects of the Embargo of 1807 has severely affected US trade with France, Great Britain and the Orient.

Because of these circumstances, Lowell concluded that for the United States to be truly independent, manufacturing should be done at home. When Lowell and his family visited England and Scotland in 1810, he secretly studied and observed the textile industries in Scotland and Lancashire. His observations focused more on the spinning and weaving machines which were operated by steam or water power.

In 1814, Lowell and his three brothers-in-law founded the Boston Manufacturing Company. This was the first integrated textile company in the US, processing cotton into finished textile in one building.

Lowell died in 1817 when Boston Manufacturing Company was financially healthy.

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