The second volume of the Iwakura Reports, so-called ‘True Account’ is the writing on Britain. What is interesting of the second volume is the fact that the mission had visited major factories and workshops in major industrial cities. The author of the Report recorded the productive processes and stages of goods at many factories, and wrote his own impressions of the landscapes of those cities. On the other hand, the author also pointed out the negative aspects of industrialization such as poverty, social bi-polarization, or air pollution of industrial cities. This paper is purposed to summarize the records of the reports on the British economy and industry, and to examine how they received the British industrial civilization. The descriptions of the reports on industrial civilization is very helpful for us to understand the British economy at the time. But there is no information of the difficulties of the British economy during the second industrial revolution such as retarded innovation and the competition with new industrial states. It is because the author only relied on the sources which the factory side issued for the public relations.