The Boston Associates were a loosely linked group of investors in 19th-century New England. They included Nathan Appleton, Patrick Tracy Jackson, Abbott Lawrence, and Amos Lawrence. Often related directly or through marriage, they were based in Boston, Massachusetts. The term "Boston Associates" was coined by historian and professor of economics and Marxism, Vera Shlakman in her 1935 work, Economic History of a Factory Town, A Study of Chicopee, Massachusetts. [1]
By 1845, 31 textile companies—located in Massachusetts, New Hampshire, and southern Maine—produced one-fifth of all cotton and wool textiles in the United States. With the capital earned through these mills, they invested in railroads, especially the Boston and Lowell. These railroads helped transport the cotton from warehouses to factories. These Boston-based investors established banks—such as the Suffolk Bank—and invested in others. In time, they controlled 40% of banking capital in Boston, 40% of all insurance capital in Massachusetts, and 30% of Massachusetts' railroads. Tens of thousands of New Englanders received employment from these investors, working in any one of the hundreds of their mills. [2]
Mill locations established or improved by the Boston Associates: [3]
Despite being "shrewd, far-sighted entrepreneurs who were quick to embrace...new investment opportunities", the Boston Associates were also "committed to the ideals of the original Protestant ethic and Republican simplicity". Indeed, the members established more than 30 "benevolent societies and institutions" between 1810 and 1840. Their investment in the Boston Manufacturing Company's Lowell Mills project, which Henry Clay called a test for "whether the manufacturing system is compatible with social virtues", epitomized their worldview. [4]
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Though not authoritative or necessarily complete, Robert Dalzell's 1987 book, Enterprising elite: The Boston Associates and the world they made, enumerated the following businessmen as members of the Boston Associates social strata: [5] [6]
The Boston and Maine Railroad was a U.S. Class I railroad in northern New England. Originally chartered in 1835, it became part of what was the Pan Am Railways network in 1983.
Francis Cabot Lowell was an American businessman for whom the city of Lowell, Massachusetts, is named. He was instrumental in bringing the Industrial Revolution to the United States.
The Boston Brahmins or Boston elite are members of Boston's traditional upper class. They are often associated with a cultivated New England or Mid-Atlantic dialect and accent, Harvard University, Anglicanism, and traditional British American customs and clothing. Descendants of the earliest English colonists are typically considered to be the most representative of the Boston Brahmins. They are considered White Anglo-Saxon Protestants (WASPs).
The Cabot family was part of the Boston Brahmin, also known as the "first families of Boston".
Abbott Lawrence was a prominent American businessman, politician, and philanthropist. He was among the group of industrialists that founded a settlement on the Merrimack River that would later be named for him, Lawrence, Massachusetts.
Paul Moody was a U.S. textile machinery inventor born in Byfield, Massachusetts. He is often credited with developing and perfecting the first power loom in America, which launched the first successful integrated cotton mill at Waltham, Massachusetts, in 1814, under the leadership of Francis Cabot Lowell and his associates.
The Boston and Lowell Railroad was a railroad that operated in Massachusetts in the United States. It was one of the first railroads in North America and the first major one in the state. The line later operated as part of the Boston and Maine Railroad's Southern Division.
The Waltham-Lowell system was a labor and production model employed during the rise of the textile industry in the United States, particularly in New England, during the rapid expansion of the Industrial Revolution in the early 19th century.
Nathan Appleton was an American merchant and politician and a member of the group of entrepreneurs known as "The Boston Associates".
The Boston Manufacturing Company was a business that operated one of the first factories in America. It was organized in 1813 by Francis Cabot Lowell, a wealthy Boston merchant, in partnership with a group of investors later known as The Boston Associates, for the manufacture of cotton textiles. It built the first integrated spinning and weaving factory in the world at Waltham, Massachusetts, using water power. They used plans for a power loom that he smuggled out of England as well as trade secrets from the earlier horse-powered Beverly Cotton Manufactory, of Beverly, Massachusetts, of 1788. This was the largest factory in the U.S., with a workforce of about 300. It was a very efficient, highly profitable mill that, with the aid of the Tariff of 1816, competed effectively with British textiles at a time when many smaller operations were being forced out of business. While the Rhode Island System that followed was famously employed by Samuel Slater, the Boston Associates improved upon it with the "Waltham System". The idea was successfully copied at Lowell, Massachusetts, and elsewhere in New England. Many rural towns now had their own textile mills.
Patrick Tracy Jackson was an American manufacturer, one of the founders of the Boston Manufacturing Company of Waltham, Massachusetts, and later a founder of the Merrimack Manufacturing Company, whose developments formed the nucleus of Lowell, Massachusetts.
Charles Lowell was a Unitarian minister and a son of judge John Lowell, as well as the father of James Russell Lowell and Robert Traill Spence Lowell.
Francis Cabot Lowell was a United States circuit judge of the United States Court of Appeals for the First Circuit and of the United States Circuit Courts for the First Circuit and previously was a United States district judge of the United States District Court for the District of Massachusetts.
The Lowell mill girls were young female workers who came to work in textile mills in Lowell, Massachusetts during the Industrial Revolution in the United States. The workers initially recruited by the corporations were daughters of New England farmers, typically between the ages of 15 and 35. By 1840, at the height of the Textile Revolution, the Lowell textile mills had recruited over 8,000 workers, with women making up nearly three-quarters of the mill workforce.
The history of Lowell, Massachusetts, is closely tied to its location along the Pawtucket Falls of the Merrimack River, from being an important fishing ground for the Pennacook tribe to providing water power for the factories that formed the basis of the city's economy for a century. The city of Lowell was started in the 1820s as a money-making venture and social project referred to as "The Lowell Experiment", and quickly became the United States' largest textile center. However, within approximately a century, the decline and collapse of that industry in New England placed the city into a deep recession. Lowell's "rebirth", partially tied to Lowell National Historical Park, has made it a model for other former industrial towns, although the city continues to struggle with deindustrialization and suburbanization.
Kirk Boott was an American industrialist who was instrumental in the early history of Lowell, Massachusetts.
The Lowell mills were 19th-century textile mills that operated in the city of Lowell, Massachusetts, which was named after Francis Cabot Lowell; he introduced a new manufacturing system called the "Lowell system", also known as the "Waltham-Lowell system".
Samuel Batchelder was a United States inventor and author.
William Ezra Worthen was a Harvard-educated American civil engineer. He was President of the American Society of Civil Engineers in 1887, and elected an Honorary Member in 1898.