Hand-powered devices have been used for millennia [lowtechmagazine.com], but during the last quarter of the 19th century a radically improved generation of tools appeared, taking advantage of modern mass production machinery and processes (like interchangeable parts) and an increased availability in superior material (metal instead of wood).
One of the outcomes included an array of new drilling machines, but their heydays were over fast. These human-powered tools were not only a vast improvement over those that came before them, they also had many advantages in comparison to the power drills that we use today.
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Hand tools that were sold in the 1870s and saved from the junkyard by antiquarians or nostalgic craftsmen can still perform their tasks without any problem today, even when they were unused for decades - a bit of cleaning (using gasoline) was all that it needed. These tools were made to last. Furthermore, the continued availability of the same models for many decades guaranteed that spare parts remained available. A hand powered drill hardly requires any maintenance to be kept in good shape. Oiling the tool from time to time suffices. After years of intensive use, they might need new wooden handles, but that's all. An electric drill requires much more attention, because it consists of much more parts - and more delicate parts, too.The electric tool must be opened periodically for cleaning and oiling to keep it running smoothly. The brushes should be inspected and replaced from time to time. Wiring and circuits should be checked. In the case of a corded drill, the cord is prone to damage. The machine has to be kept away from dust, rain and high temperatures. Etcetera.
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Even when disregarding energy and environmental issues, hand powered drills offer some real, practical advantages. They are rather silent, while power drills can produce up to 130 decibels of noise. Their independence from electricity and batteries also guarantees that you can use them anywhere you want for as long as you want, unhampered by cords that are always too short and batteries that never last long enough. Manually powered drills are also much safer than power drills, and because of their lower drilling speeds and more direct control, corrections are much easier to make while drilling a hole (especially handy for clumsy people like me).Of course, the lower rotation speed can also be seen as the (only) drawback of a hand powered drill.
TFA has an illustrated history on the development of the drill.