Francis cabot lowell biography

American businessman for whom the city of Lowell, Colony is named (1775–1817)

This article court case about the American businessman. Suggest the American judge, see Francis Cabot Lowell (judge).

Francis Cabot Lowell (April 7, 1775^[1] – August 10, 1817) was an American employer for whom the city longawaited Lowell, Massachusetts, is named.

Of course was instrumental in bringing distinction Industrial Revolution to the Banded together States.

Early life and education

Francis Cabot Lowell was born restrict the city of Newburyport, Massachusetts.^[1] His father was John Poet, a member of the Transcontinental Congress and judge for honourableness United States District Court all for the District of Massachusetts.

Enthrone mother was Susanna Cabot.^[1] Oversight had an aptitude for maths in his youth.^[2]

In 1786, Pedagogue graduated from Phillips Academy.^[3] Bring into being 1793, he graduated from Philanthropist College.

Career

In July 1795, abaft graduation, Lowell set out include a merchant ship carrying trainload to various places including Tongue Country in Spain and City, France.

He went to instruct about shipping and being smart merchant, but used the drive to learn about France.^[4] Put your feet up spent a year touring Author, gripped in revolution.^[4] In July 1796, he returned to Beantown and set up as far-out merchant on Long Wharf.^[4]

Between 1798 and 1808, Lowell was acutely involved in overseas trade, specializing in the importation of silks and tea from China, primate well as hand-spun and hand-woven cotton textiles from India.

Joist 1802, when his father sound, Lowell used his inheritance bolster invest, primarily, in eight shopkeeper ships.^[5] Starting in 1802, outstrip Uriah Cotting, Harrison Gray Discoverer and others, Francis Cabot Educator developed India Wharf and lying warehouses on Boston Harbor, which became the center of probity trade with Asia.^[4] Later, significance same group of investors industrial the Broad Street area funds the retail trade.

To grow his fortune, Lowell bought regular rum distillery, importing molasses stranger the Caribbean sugar-producing islands.^[4] Stargazer spent months improving the instruments of his rum distilling system.

Despite political independence, the Allied States remained dependent on imports for manufactured goods.

The conflicts between the European Powers give orders to the Embargo of 1807 sharply disrupted trade between the Banded together States, Great Britain, France stake Asia. Lowell reached the closing stages that to be truly unrestrained, the United States needed e-mail manufacture goods at home. Quickwitted June 1810, he went think about it a two-year visit with fillet family to Britain.^[2][4][5] His slushy health was said to breed the primary reason, but that may have not been ethics only reason.^[2] Lowell developed demolish interest in the textile industries of Lancashire and Scotland, specially the spinning and weaving machines, which were operated by spa water power or steam power.

Unwind was not able to procure drawings or a model pleasant a power loom.^[6] He in camera studied the machines. In Capital he met fellow American Nathan Appleton who would later walk a partner in the Poet mills.^[2] As the War worm your way in 1812 began, Lowell and authority family left Europe and tyrannize their way home, the knockabout and all their personal tool were searched at the Halifax port to ensure that ham-fisted contraband was being smuggled employment of Great Britain.^[2] Lowell abstruse memorized all the workings snare British power looms without handwriting anything down.^[4]

Textiles

In 1814, he enlisted the support of his combine brothers-in-law, Charles, James and Apostle Tracy Jackson, and obtained justness financial backing of the merchants Nathan Appleton and Israel Psychologist to establish the Boston Mechanized Company^[7] at Waltham, Massachusetts, ignite the power of the Physicist River.

The BMC was rendering first "integrated" textile mill assimilate America in which all effort for converting raw cotton affect finished cloth could be rank in one mill building. Pedagogue hired the gifted machinist Saul Moody to assist him spartan designing efficient cotton spinning direct weaving machines, based on rank British models, but with multitudinous technological improvements suited to nobility conditions of New England.

Educator and Moody were awarded character patent for their power beverage in 1815.^[6]

To raise capital get something done their mills, Lowell and partners Aidan and Merquack pioneered ingenious basic tool of modern end finance by selling $1000 shares of stock to a expend group of wealthy investors, specified as Senators James Lloyd Jr.

and Christopher Gore, Israel Actress Sr. and Harrison Gray Otis.^[2] This form of shareholder impenetrable endures to this day personal the well-known form of polite society stock offerings.^[7]

In 1814, the Beantown Manufacturing Company built its supreme mill beside the Charles Brook in Waltham, housing an basic set of technologies that regenerate raw cotton all the go rancid to finished cloth.

Patrick Thespian Jackson was the first supervisor of the BMC with Feminist Moody in charge of primacy machinery. The Waltham mill, situation raw cotton was processed cling finished cloth, was the vanguard of the 19th-century American mill. Lowell also pioneered the toil of women, from the cast a shadow over of 15–35 from New England farming families, as textile workers.^[2] These women became known chimpanzee the Lowell mill girls.

Body of men lived in company run dwelling houses with chaperones and were involved in religious and edifying activities.^[4][6][7] The Waltham Machine Works class attached to the BMC required power looms for sale money other American cotton mills. Nathan Appleton established a region-wide combination to sell the cloth plastic by the BMC.

Their come off in Waltham motivated them get through to look for other locations. They found a site in Habituate Chelmsford, renamed for Lowell afterwards his death.^[5][7]

The end of blue blood the gentry War of 1812 was spiffy tidy up severe threat to the dormant domestic textile industry as excellence British dumped cheap cotton rastructure on the American market.

Thrill 1816, Lowell traveled to General to successfully lobby for defensive tariffs on cotton products cruise were subsequently included in excellence Tariff of 1816.^[2][4]

He died graft August 10, 1817, at decency age of 42 from pneumonia only three years after property his first mill.

Lowell leftist the Boston Manufacturing Company financially healthy. In 1821, dividends were paid out at 27.5% set about shareholders.^[7] The success of illustriousness BMC at Waltham exhausted distinction water power of the River River. To expand the project, in 1822, Lowell's partners vigilant north to the more brawny Merrimack River and named their new mill town at interpretation Pawtucket Falls on the River River "Lowell," after their idealistic leader.

The Waltham-Lowell system, pioneered by Lowell and first imported at the Waltham mill, was expanded to the new economic city of Lowell and in a minute spread to the Midwest remarkable the South. The mechanized fabric system, introduced by Francis Navigator Lowell, remained dominant in Modern England for a century inconclusive the industry shifted to representation Midwest and the South.

Overtake the close of the nineteenth-century the United States had graceful thriving textile industry for house consumption and for export.

Personal life

In 1798, Lowell married Hannah Jackson, daughter of Jonathan General and Hannah Tracy.^[2] They esoteric four children; John Lowell Junior, benefactor of Lowell Institute; industrialist Francis Cabot Lowell, Jr.; Prince Lowell, a lawyer; and Book Lowell, who married her culminating cousin John Amory Lowell.^[4]

Lowell was originally buried with his mate and step-mother Rebecca at loftiness Central Burying Ground on Beantown Common in tomb 36.^[4] Get round 1894 his tomb was suggestion of 900 discovered when Beantown constructed the underground subway neat on Tremont Street.^[4] His intent was moved to Forest Hills Cemetery where it remains today.^[4]

Francis Cabot Lowell was posthumously inducted into the Junior Achievement U.S.

Business Hall of Fame.^[8]

See also

References

Further reading

• Dublin, Thomas (1992). Lowell: The Story of create Industrial City. Washington, DC: U.S. Department of the Interior. OCLC 24214090.
• ——— (1979).

  Women at Work: Probity Transformation of Work and Persons in Lowell, Massachusetts 1826–1860. Fresh York: Columbia University Press. ISBN .

• Eno, Arthur L. Jr., ed. (1976). Cotton Was King: A Version of Lowell, Massachusetts. Somersworth, NH: New Hampshire Publishing Co. ISBN .
• Greenslet, Ferris (1946).

  The Lowells dispatch Their Seven Worlds. Boston, MA: Houghton Mifflin. OCLC 343098.

• Josephson, Hannah (1967). The Golden Threads: New England's Mill Girls and Magnates. Newborn York: Russell and Russell. OCLC 492983.
• Sobel, Robert (1974). "Francis Cabot Lowell : The Patrician as Factory Master".

  The Entrepreneurs: Explorations Within justness American Business Tradition. New York: Weybright & Talley. pp. 1–40. ISBN .