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Wednesday 4 April 2018
11.00 - 13.00
Z-2
SOC04
Financing Institutions: Making Money and Making Places in Eighteenth and Nineteenth Century England
Music Lecture Theatre School of Music
Following poor law amendment in 1834, unions of parishes bought enormous quantities of goods to feed and clothe their paupers. As institutional poor relief grew dramatically during the nineteenth century, the role of poor law unions as customers in their local economies expanded. Suppliers were not subject to central government’s ... (Show more) Following poor law amendment in 1834, unions of parishes bought enormous quantities of goods to feed and clothe their paupers. As institutional poor relief grew dramatically during the nineteenth century, the role of poor law unions as customers in their local economies expanded. Suppliers were not subject to central government’s rules, so the unions to whom they sold enjoyed some freedom in their contractual arrangements – in stark contrast to the restrictions surrounding almost every other aspect of unions’ practices. This enabled a unique business atmosphere to develop. Poor law procurement was therefore embedded in social, as well as economic, geographies. (Show less)
David Green : Making Money from Making Places This paper explores the ways in which the construction of public institutions and municipal improvements in England provided opportunities for capital investment and annuities. Tontines in particular were a popular way of raising money whilst at the same time providing an important form of life insurance. State sponsored tontines were ... (Show more) This paper explores the ways in which the construction of public institutions and municipal improvements in England provided opportunities for capital investment and annuities. Tontines in particular were a popular way of raising money whilst at the same time providing an important form of life insurance. State sponsored tontines were used to address peaks in demand, such as to pay for wars. But tontines were also used more commonly to provide a pool of capital for the purposes of constructing local institutions and municipal improvements. In the eighteenth and nineteenth centuries, theatres, coffee houses and libraries as well as workhouses, bridges and parks were all built using capital raised through a tontine or related form of life assurance. Although many of these schemes drew on highly localised networks of investors, others had a wide geographical reach, particularly those associated with rapidly growing urban places. (Show less)
Alannah Tomkins : The Business of Poverty: Poor Relief and Local Economies of Welfare This paper explores the role of the poor law in providing a source of demand in local economies. Poor relief vouchers, given to applicants to spend in the locality, were potentially important sources of income for local tradespeople, particularly during downturns in demand. At these points in the economic cycle, ... (Show more) This paper explores the role of the poor law in providing a source of demand in local economies. Poor relief vouchers, given to applicants to spend in the locality, were potentially important sources of income for local tradespeople, particularly during downturns in demand. At these points in the economic cycle, the poor law was able to bolster demand and therefore provide some resilience to hard pressed shopkeepers and businesses who supplied the needs of the poor. (Show less)
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