In an old oven in an outhouse, near where he lived, he had hid away an old black pocket book which contained as much money as would in a last resort relieve him from any embarrassment in which his undertakings might land him. To use his own words, - “I was always true to that old black pocket-book, and it was true to me.” If money could be got from any other source it must be got, even if it had to be temporarily borrowed. It was only at the last pinch that he borrowed from the old pocket book, and then only to repay it with the first money that came into his hands. Going to one of his neighbours on a certain occasion, he produced his bank book and remarked that “they (at the bank) had added it up in the middle of the leaf;” could his neighbour find him money wherewith to pay his wages? And to show the esteem in which he was held by those who best knew him, and that a good name is better than riches – “Yes,” said his neighbour, “I will find you what you want, and when that is done, come again.” Mr. ------------- had measured his task and measured his strength. He weathered the storm, and thus laid the foundation of a large business and fortune. Mr. Lees, of Clarksfield, was among those to whom Mr. -------------- was telling his tales, and striking on his knee with his hand, he exclaimed, “This, Mr. -------------, was a stroke of real genius.” 1826 The year 1826 began on a Sunday, which was a fine winter’s day, and such distressed times as was never experienced, provisions of all kinds being so dear, and most kinds of labour so very low and bad; for weaving was never in such a distressed condition before, and the distress of the lower class is such as was never seen before, and the old custom of hospitality has not been noticed, for velveteens, cords, &c., of half ell are woven at from 14d. to 15d. per lb. A deal is woven two in a breadth, and is woven from 1s. to 1s. 1d. per lb. 24 hanks Tabby are woven from 20s. to 23s. per cut (53 yards) with from 10 to 11 lbs. of weft in. of 60 hanks in a lb. and upwards, in a cut. A deal of weaving is done at factories on power looms. The wages in general are low. In spinning, roving, &c., the prices are not so much reduced, but work is scarce. The following is a statement of the prices of the different articles:- Meal from 1s. 10d. to 1s. 11d.; flour, from 2s. 4d. to 2s. 5d. per peck; malt, from 2s. 2d. to 2s. 3d. per peck; treacle, 4 3/4d.; cheese, 7d. to 8d.; pork, 6 1/2d. to 7 1/2d.; candles, 6 1/2d. to 7d.; beef, 7d. to 8d.; mutton, 8d.; old butter, 10d. to 10 1/2d.; bacon, 8d. to 9d.; hops, 2d.; sugar, 6d. to 9d.; soap, 7d. per pound; peas, 4d. per quart; salt, 10 lbs. for 4 1/2d.; hay, 6d. to 8d. per stone; straw, 7d. per stone. |
The old cotton trade was evidently on its last legs, though the prices paid per pound for hand weaving were still very high. Power-loom weaving at factories was on the increase, we are told. E. Butterworth says:- “In the early part of 1826 another severe depression in commercial affairs ensued in consequence of the great prevalence of an excess of speculation. Universal failure seemed impending, and people really wealthy found it almost impossible to meet their immediate engagements.” January 2nd – Died, as a consequence of a fall from his horse, William Booth, of the Coach and Horses, Waterhead Mill; his age, 43 years. January 2nd – Benjamin Wright, for a wager of ten guineas each, wheeled twelve score weight in a wheelbarrow four miles on Manchester Hill, Stockport; the condition two miles forward and two miles back on thew same road, without any strap or string or anything but his hands, one hour the given time. Performed in 58 minutes. 240 lbs. four miles in one stretch in a wheel -barrow must have been a good record. The age of packhorses was succeeded by the age of wheelbarrows in Oldham and the cotton districts, the wheelbarrow being a cheap and easy mode of carriage. January 7th – John, son of Humphrey Marlor, of Long Row, or Radcliffe Buildings, died; disorder, typhus fever; age 21 years. 7th – For several days past a tremendous high wind. 15th – For several days past most severe freezing; has not froze so severe for several years. 16th – The frost still continus, and all kinds of articles riseing in price, and the most miserable times ever experienced. A child of James Hardy’s of Nathan Roe, intered this day at Oldham. It was scalded to death. 29th – Last night the house of Jenny Horrocks, the Lamb Inn, Oldham, was discovered to be in flames, but by great exertions the flames where subdued after destroying a quantity of hay, which where on a part of the premises. 31st – The most distressing times are now experienced nearly all over most parts of the kingdom, but particularly in the manufacturing districts. |
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Most of the banks have stoped payment, wich as caused the greatest distress in this neighbourhood. Weavers are most seriously distressed. The Panic in London had subsided about the end of last year. The Bank of England had sustained the strain and saved the country. Though many country banks were unable to meet their engagements, as we shall see Oldham banks did not escape. February 4th – This day the coronor held an inquest at Greenacres Moor, on the body of James Butterworth, who was found drowned at that place, and on an old woman in Chadderton Workhouse, who was burned to death, nearly 80 years of age; and on a child burned to death at Hollinwood. On the 16th of January Manchester Sessions commenced, and ended on the 28th. There where 190 prisoners tried, when 29 were transported for seven years, six for fourteen years, and four for life, and the rest for different periods of imprisonment. James Penny Machel, of Penny Bridge, near Ulverston, high sheriff for Lancashire this year. February 5th – Died, Deborah, wife of Samuel Ward, of White Stone, Maygate-lane, age 62 years. February 7th – Last night a tremendous roof night, with wind east. It tore a deal of windows out, and the people felt much alarmed. February 8th – Samuel Kent, an Orangeman, was interred at Oldham this day. A great number attended, with badges and aprons and other emblems of that fraternity. Upon the whole they made a very grand appearance. February 6th – The Saddleworth Bank of Messrs. Harrop, Brown, and Co. stopped payment, which threw the country into the greatest consternation upon the ocation. From Saddleworth Sketches, I quote as follows:- The first banking company in Saddleworth was established before the beginning of the present century, the partners being the Messrs. Lees, of Clarksfield; Mr. Joseph Jones, of Oldham; Mr. John Harrop, of Dobcross; and Mr. James Buckley, of Hollyville. Prior to 1800 Mr. Jones and the Messrs. Lees withdrew, and Mr. Edward Brown, solicitor, subsequently of Oldham, was taken into partnership. |
In fact, the partners re-arranged themselves into two banking companies, Mr. James Buckley, who had also retired from the concern, taking into partnership in the other bank at Dobcross, Mr. John Roberts, of Delph; Mr. John Platt, of Heathfields; Mr. John Wrigley, of Dobcross; and Mr. Robert Shaw, of Furlam. The original company was thus divided into two, neither of which can be said to be older than the other. In 1826, the period of great monetary panic, when Messrs. Dobson’s bank at Huddersfield, that of Messrs. Wentworth, Chaloner and, Rushworth, of Wakefield and Huddersfield, together with others, failed, spreading ruin and destroying commercial confidence over a wide area of the West Riding of Yorkshire. There was a serious run on both the banks in Saddleworth. Harrop’s Bank was compelled to close its doors, but ultimately its notes were paid when presented, by Mr. Edward Brown. The run upon the other bank was also severe, but it weathered the storm without interruption to its business operations. Afterwards Mr. Wrigley died, and Mr. Roberts having retired from it, Mr. Charles James Buckley, of Hollyville, together with Mr. Francis Shaw Buckley, were admitted as partners, when the style of Buckley, Shaw, and Company was adopted. The business was kept on by them until it became a Joint Stock Banking Company in March, 1833, and it retained the name of the Saddleworth Joint Stock Banking Company until recently, when it was merged in the Manchester and County Bank Limited, its establishments at Dobcross and Oldham and Ashton being continued under the same managers as before the change was made. February 13th – The workmen began to pull down and remove the materials which composed the Chesshire Cheese public-house in Oldham, late Horrock’s house, situated in the Market-place, near West-street. February 15th – Every day fresh proofs of misery are announced, and the troubles are genarly felt in most parts of the kingdom, for nearly all the country banks in the kingdom have stopped payment. February 17th – One Boothroyd, a taylor, who resided near Leather-street, Oldham, was intered this day: he was an Oddfellow, and his funeral was attended with a very large number of that order, dect with every badge wich fancy and money could command. |
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William Rowbottom's Diary as published in the Oldham Standard |
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