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67:. Immigration to the city from the surrounding counties brought expansion of these industries. The population of the city increased from 5-7,000 in 1700 to nearly 24,000 in 1750, and by 1775 the population was about 40,000, making Birmingham the third largest town in the UK after
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around 1770, did not find widespread use in the city for another sixty years (in 1815, there were only about forty steam engines in the town, many very small). However, steam power and improvements in iron manufacturing processes were important in the development of the nearby
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Aside from banks, there were other kinds of institution involved in the circulation of money in
Birmingham before the modern era. For example, the Brewers Investment Corporation Ltd, with offices at Nos.3-4, County Chambers,
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in 1770, and the canal greatly reduced the price of goods such as coal which had previously been transported by road. The canal system was extended throughout the late 18th and early 19th centuries.
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Numerous inventors emerged during
Birmingham's past, and the city's skilled workforce and infrastructure encouraged other inventors and businessmen from across the world to set up shop in the city.
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In 1767, there were 35 gun-makers, and 27 manufacturers of other gun parts. The firm of Farmer and Galton supplied most of the weaponry to the
Company of Merchants in
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areas), and guns and brass goods were also being made. Metal was not made to any great extent in the town itself at this stage, but was mainly imported from
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The long-established industrial processes in the city meant that it was actually quite late in adopting the methods of the
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manufacturing knives and nails among other products. By 1683, there were 202 forges in the town (mainly in the
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Expansion during this period was also aided by the establishment of several banks – the button manufacturer
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committee heard that at least 20,000 people in
Birmingham and the surrounding area were employed in the "
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Despite the establishment of several large manufacturers (for example
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