Banks
Expansion during this period was also aided by the establishment of several banks - the button manufacturer John Taylor and the ironmaster Sampson Lloyd III established what was later to become Lloyds Bank (and then Lloyds TSB) in 1765, opening a branch in London in 1770.
Despite the establishment of several large manufacturers (for example Boulton and Fothergill's famous works at Soho), most of the city's manufacturing was done in small family workshops. Payment was usually by piece-work, and workers could therefore decide when they wanted to work - it was usual for "Saint Monday" to be a day of rest in addition to the weekend, with long hours being worked later on to compensate, and employers had very little control over the working hours of their employees.
Read more about this topic: Economic History Of Birmingham
Famous quotes containing the word banks:
“Civilization is a stream with banks. The stream is sometimes filled with blood from people killing, stealing, shouting and doing the things historians usually record, while on the banks, unnoticed, people build homes, make love, raise children, sing songs, write poetry and even whittle statues. The story of civilization is the story of what happened on the banks. Historians are pessimists because they ignore the banks for the river.”
—Will Durant (1885–1981)
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—Sean O’Casey (1884–1964)
“Three million of such stones would be needed before the work was done. Three million stones of an average weight of 5,000 pounds, every stone cut precisely to fit into its destined place in the great pyramid. From the quarries they pulled the stones across the desert to the banks of the Nile. Never in the history of the world had so great a task been performed. Their faith gave them strength, and their joy gave them song.”
—William Faulkner (1897–1962)