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The formation of the east India company. The joint stock company would later play a vital role in maintaining trade monopoly that helped increase demand, production and profit.
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Darby was able to sell 81 tons of iron goods that year. He would become a important figure in industry discovering a method of producing pig iron ran by coke rather than charcoal.
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Thomas Newcomen invents the first steam engine.
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James Hargreaves invents the spinning jenny allowing a worker to produce multiple spools of thread at the same time.
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James Watt patents an improved steam engine making it useful as a power source in factories and other applications such as steam boats and trains
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The industrial revolution spreads the united states when Samuel Slater opens the first textile mill in Rhode island
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The Erie Canal is completed opening a water route from the Great Lakes to New York City and the Atlantic Ocean.
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Elisha Otis invents a safety break for elevators making them practical and safe for the first time. This allows for tall buildings and skyscrapers to be built.
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The Bessemer Process for making steel is invented by Henry Bessemer. This allowed for the mass production of inexpensive steel.
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Around this time the Second Industrial Revolution begins. This phase of the Industrial Revolution is characterized by rapid expansion of new technologies such as the telephone, railroads, and electrical power.
