Consider the following statements and identify the correct response from the options given thereafter:
Statement I: In the 19th century, London was a colossal city.
Statement II: London had many large factories.
Development of London started in 18th century due to rapid industrialization. By 1750, one out of every nine people of England and Wales lived in London. It was a colossal city with a population of about 675,000. Over the period of nineteenth century, London continued to expand.