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 | | Although individual coal mine owners, like businessmen in other trades, profited from their holdings, none of their strategies resolved the coal trade's crisis of deficient demand.5 Beyond these economy-wide similarities with other English enterprises, distinctive market dilemmas bedeviled Newcastle's coal mine owners in ways that affected no other industry of its day. |
 | | In London alone, cargoes of coal "rose fifteen fold from the 1580s to the 1700s, to reach an average of just over 450,000 tons a year by the early eight- eenth century."9 Newcastle's coal was unique in another way. |
 | | Coal mining demanded abundant capital, and the "larger collieries were almost invariably run by groups of investors who shared the risks, costs, and profits."100 During these years, the leading Hostmen spread liability among themselves, and uni- fied all capitalist functions as they became interest-bearing, industrial, and commercial capitalists. |
| www.afn.org /~afn31294/marvin/chapter10.txt (5095 words) |
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