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:
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—Henry David Thoreau (1817–1862)