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Trade and Traders in Mid-Victorian LiverpoolMercantile Business and the Making of a World Port$
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Graeme Milne

Print publication date: 2000

Print ISBN-13: 9780853236061

Published to Liverpool Scholarship Online: June 2013

DOI: 10.5949/UPO9781846314261

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PRINTED FROM LIVERPOOL SCHOLARSHIP ONLINE (www.liverpool.universitypressscholarship.com). (c) Copyright Liverpool University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in LSO for personal use.date: 06 June 2020

Capital, Credit, Growth and Control

Capital, Credit, Growth and Control

Chapter:
(p.123) Chapter 6 Capital, Credit, Growth and Control
Source:
Trade and Traders in Mid-Victorian Liverpool
Publisher:
Liverpool University Press
DOI:10.5949/liverpool/9780853236061.003.0006

This chapter turns to the strategies for raising finance and expanding business activity, focusing on the raising and management of finance by small firms. It is observed that traders of all sorts sought ways of securing greater income, while always trying to retain control over their businesses. In particular, traders in Liverpool were generally inventive in their schemes for making capital go further. Furthermore, the core strategies of those who built large steam fleets around the 64ths model are evaluated, concentrating on William Inman's American services and on the Mediterranean enterprises of the Bibby and Moss families. It is shown that the joint-stock shipping companies in Liverpool were able to focus their management and finance on the Liverpool trading community. Additionally, the 64ths system demonstrated a flexible way of drawing in new investment to the shipowning business in an era of considerable change and growth.

Keywords:   finance, business activity, small firms, traders, Liverpool, 64ths system, William Inman, Mediterranean enterprises, joint-stock shipping, shipowning business

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