What impact did the rise of the textile mills have on the economy based in New England?

Slater built the machinery for a textile mill from memory. His factory produced cotton of great quality. In the 1790s, Slater and his partners opened many other textile mills. He is considered the founder of the American textile industry because his bringing of English technology to the United States began the Industrial Revolution.

Explanation:

The rise of the corporation was crucial to the success of the market economy T During the first half of the 1800s, the US economy experienced explosive growth in output and trade, and a rise in the standard of living for millions of Americans.

Explanation:

Textile manufacture during the Industrial Revolution in Britain was centred in south Lancashire and the towns on both sides of the Pennines. In Germany it was concentrated in the Wupper Valley, Ruhr Region and Upper Silesia, in Spain it was concentrated in Catalonia while in the United States it was in New England. The main key drivers of the Industrial Revolution were textile manufacturing, iron founding, steam power, oil drilling, the discovery of electricity and its many industrial applications, the telegraph and many others. Railroads, steam boats, the telegraph and other innovations massively increased worker productivity and raised standards of living by greatly reducing time spent during travel, transportation and communications.

Textile mills brought jobs to the areas where they were built, and with jobs came economic and societal growth. During the Industrial Revolution, villages and towns often grew up around factories and mills. In some cases, libraries, churches, and other centers of culture and learning developed because of mills.

they were byzantines

keeping a cash reserve because cash flow is the the movement of money through a company and if it just sits there, it wont the movement