The Bengal Renaissance - pg. 25

We must not miss the fact that this phase by and large
came to a close by the time of the Revolt of 1857. The
reasons for taking that year as the water-shed between
the liberalist phase and the next nationalist phase need
not be identified alone from that great occurrence. There
were other very important reasons too. Among them we
may notice that the British rulers had been laying the basis
for setting up modern machine industries and their
infrastructures from the beginning of the decade of
1850's. Indian capital had been so long playing the role of
leaders to the British owned industries. If Indian capital
wanted to thrive in industry on the basis of its native
ownership and management, the scope of it was now
becoming open. With these new opportunities, there was
a natural tendency to political and social independence. Quite
before this, peasants and agricultural labourers were getting
restless at different places and with their militant organizations
confronted the ruling British power. The Revolt of 1857
converged these forced of national independence to a great extent.