Economic Impact
Building a ship like the Titanic was not something that happened overnight. It took 2 years and 2 months to complete. Inside the ship were "turn-of-the-century" designs and high-end technology. All of these fancy things cost a lot of money to have on board. It was planned that in the long run, the ship would make plenty of money. The White Star Line knew they would make a huge profit on the many voyages of the Titanic. A first class ticket would cost about $80,000 today, second class $1,375, and third class, $350-$900. The passengers would basically pay for how they wanted to be treated. Many of the wealthy people of Titanic's time were on board this ship, coming to New York. These platinum businessmen and employees from other companies made their business suffer.
Because these wealthy people were onboard, it's no surprise that they would bring their valuables. Although many of these prized posessions were brought onto the lifeboats, the survivors lost them. When they were finally rescued by the Carpathia ship, the people barley had one thing to call their own.
Because these wealthy people were onboard, it's no surprise that they would bring their valuables. Although many of these prized posessions were brought onto the lifeboats, the survivors lost them. When they were finally rescued by the Carpathia ship, the people barley had one thing to call their own.
Limitation of Liability
Many people filed for "limitation of liability" which is when someone is held liable for loss or damages. The people needed to be "refunded" of the value of their lost items. Not only were they in need of money, but passengers lost the items they valued most.
-The photo to the left was a claim that Mabelle Swift Moore made for her deceased family member, Clarence Moore.
The amount of food and goods that were onboard the Titanic were also incredible. There had to be enough for the long journey. There were thousands of pounds of each kind of food that went to waste. So much money was used to buy these goods. The loss of food was another way the Titanic lost money.
Use this link to watch the Titanic: Deconstructed video _
-The photo to the left was a claim that Mabelle Swift Moore made for her deceased family member, Clarence Moore.
The amount of food and goods that were onboard the Titanic were also incredible. There had to be enough for the long journey. There were thousands of pounds of each kind of food that went to waste. So much money was used to buy these goods. The loss of food was another way the Titanic lost money.
Use this link to watch the Titanic: Deconstructed video _