Re: Street Names
The late 19th century Mill owners of Accrington opted to invest in property construction and speculation at the expense of investment in their mills. Much of this investment involved vanity projects, such as naming terraced streets after family members. As such, technology lag led to relative higher costs and the loss of overseas markets when faced with more advanced American competition, resulting in the fast decline of the local textile industry.
A level Economic History. Question 1. Discuss. 25 marks.
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