MARKREE LIBRARY. 
 
 Block 
 
 Re-arrangedfcn 1913 by BRYAN COOPER 
 
 Ex Libris 
 C. K. OGDEN

 
 HOW PEOPLE IMAGE THEWS 
 
 IT MANCHESTER; 
 
 OR, 
 
 SIR E. A. AS A TRUSTEE. 
 
 BY 
 
 JOHN BURD, 
 
 MOUNT SIGN, RADCLIFFE, LANCASHIRE. 
 
 LONDON : 
 FEINTED FOR THE AUTHOR. 
 
 1866.
 
 TO THE PUBLIC. 
 
 IN making known at some length the circumstances relating to a 
 great individual oppression, the author feels disposed to turn the occa- 
 sion to some account for the good of others. The great and increasing 
 difficulties attending the prosecution of trade, render it necessary and 
 desirable that those difficulties should not be increased by the state of 
 the law. The condition of the people-question requires that every 
 restraint upon the industry of the people should be removed. The 
 absurd state of our monetary laws is the most crying abuse from which 
 the country suffers. No temporary measures will do ; it will be proper 
 to search out to the foundation the whole system of currency and 
 credit. The principle must be laid down, that the interests and wel- 
 fare of the great masses of the people must be consulted and provided 
 for. This must not be by sacrificing one class for the sake of 
 another, but by an equal law for every class. The present law is 
 most arbitrary, oppressive, unequal, and unjust. The whole system of 
 trade is made needlessly dangerous and anxious by it. The whole 
 labour market is depreciated by the operation of the present law. 
 Great multitudes are kept in idleness, and therefore in misery, and 
 exposed to crime, by the fierce pressure of our monetary laws. Men, 
 however good, however industrious, and however worthy of confidence, 
 are commercially dead, if not possessed of a balance at the bank. 
 Their position is one of absolute slavery, and they cannot be redeemed 
 from that condition, except at the will and according to the caprice of 
 the moneyed class. All pretences to liberty and independence are 
 ignored by the present system. Many servants are slaves ; their 
 comfort, uay, their existence, beyond a workhouse or a prison, depends 
 upon the smile, and may be destroyed by the frown, of their fellow 
 man. A man without property cannot trade, and therefore cannot 
 live, except by selling his labour to others. How cruel a law, to put
 
 into the hands of one class the absolute disposal of all the rest of the 
 inhabitants ! The moneyed class can crush down the labour market to 
 any extent which their tyranny or heartlessness may allow, they hold 
 in their hands the means of supplying the rest of the community with 
 work, and therefore with bread ; at their arbitrary pleasure they can 
 close their pockets, and let the masses starve ; and there is no one to 
 bid them nay. How is this ? It is because, in the eye of the law, 
 property is everything, and men are nothing. This is the fundamental 
 error, and it is for the representatives of the people to remove the 
 stumbling-block ; and the man who passes a measure effectually to 
 remove the abuses of the present system, will deserve well of his 
 country, and have earned a title to the highest rewards it can confer. 
 Let her Majesty's reign receive its most illustrious distinction by a reform 
 of our money laws. As the late Prince Consort rejoiced on the passing 
 of the Corn Law Abolition Bill, because it gave cheap bread to the 
 people, so may her Majesty have reason to rejoice over the blessed 
 results due to the passing of a bill, giving freedom to the trade in 
 money, as well as in corn. Such a measure will raise our masses from 
 their deep degradation ; give hope to the industrious, because they will 
 not only have work, but a due reward for their toil ; make the paying 
 of the taxes an easy matter ; and diffuse universal content and physical 
 well-being over the nation. Let all patriots, and all who have a stake 
 in the country, unite their efforts for the passing through Parliament of 
 a wise and complete measure, to relieve the trade and industry of the 
 land from the pressure of the present law. In seeking relief for an 
 individual grievance, the author would rejoice if in any degree he 
 should be successful in pointing out a national evil, and crying out for 
 its remedy. The nation is made up of individuals. Let individual 
 wrongs be redressed, and let justice be done by every part of the 
 nation to every other part, and the whole nation will then be able to 
 rejoice together.
 
 "HOW PEOPLE MANAGE THINGS IN 
 MANCHESTER;" 
 
 OR, SIR E. A. AS A TRUSTEE. 
 
 Sir E. A., of H. H., E.,and Mr. \V. B., of A., were left by the late 
 Mr. Alderman B., of H., as Trustees to his estate. Mr. Alderman B. 
 died on the 18th August, 1848. On the 30th September, 1848, his 
 eldest son, Mr. W. B., of M. B., died, aged 30 years. All these par- 
 ties resided in the neighborhood of Manchester. Mr. W. S., of Messrs. 
 S., W., and Co., Solicitors, Manchester, and a connection, by marriage, 
 of Mr. Cobden's, the apostle of free trade, made the will. Immediately 
 after Mr. B.'s interment, and before the death of Mr. W. B., all the 
 members of the family were assembled, together with the Trustees. 
 Sir E. A. requested that Mr. J. N., solicitor, might be elected to act as 
 legal adviser to the Trustees in all matters which concerned them in the 
 place of Mr. W. S. This projposal was assented to by all parties con- 
 cerned. At the time of his death, Mr. Alderman B. was in partnership 
 with his two eldest sons. The business of printing was carried on at 
 Mount S., R., and the vending of the goods printed at the warehouse 
 in Manchester. By the provisions of the will, the two surviving 
 partners had the option of purchasing the business on certain terms, 
 and six weeks were allowed after the death of Mr. B., as the time for 
 their consideration whether they would purchase it. About a month 
 after the death of Mr. Alderman B., his eldest son, Mr. W. B., fell ill 
 and died, as before stated ; in consequence of this circumstance, all 
 attention was diverted from the consideration of the purchase of the 
 business, and was fixed upon the dangerous illness of Mr. W. B.
 
 After his death and burial, the question of the purchase of the business 
 was revived. Mr. S. B., banker, of Manchester, was left as the Trus- 
 tee to the estate of Mr. \V. B. ; Mr. J. B. of Mount S., R., was the 
 surviving partner, and the second son of Mr. Alderman B. He had on 
 his hands to deal with two estates and their Trustees. If the Trustees 
 did not pull together, how dangerous was his position. He entered 
 into an understanding with Mr. S. B. to pay out of the concern, at 
 certain dates, the money belonging to the separate estate of Mr. W. B. ; 
 he elected to purchase the business of his father upon the terms speci- 
 fied in the will. The death of Mr. W. B. having in the mean-time 
 elapsed, and the period having passed over during which the option 
 was permitted to be exercised for the purchase of the business, the 
 Trustees refused to agree to allow Mr. J. B. to have the business. Sir 
 E. A. shrunk from the responsibility of breaking up the business ; Mr. 
 S. B. urged upon Sir. E. A. to do so ; he wished to avoid the odium 
 attached to such a course of proceeding. The Court of Chancery was 
 appealed to, and permission obtained to sell the business to Mr. J. B. 
 After the sanction of the Court of Chancery was obtained, Sir E. A. 
 requested that Mr. W. B. might be allowed, at a salary, to conduct 
 the business at the Manchester end, and thus, virtually, have the 
 Trustees embarked in the business. Mr. S. B. decidedly condemned this 
 proposal ; and after it was agreed upon, refused to be the banker of 
 the concern, as it was a course of action contrary to his opinion ; Sir 
 E. A. insisted so positively upon this appointment, that although Mr. 
 J. B. was exceedingly unwilling to do anything contrary to Mr. S. B.'s 
 opinion, Sir E. A. was allowed to have his own way. Sir E. A. intro- 
 duced Mr. J. B. to the Manchester and Salford Bank, and the Man- 
 chester and Salford Bank, in conjunction with the Bank of England, 
 were the bankers for the concern. All went well as long as Mr. J. N. 
 lived; the business prospered, a great deal of money was made, the 
 business was extended, and there was every reason for congratulation 
 and thankfulness. 
 
 Commerce was in a highly prosperous state at the time when the 
 Russian war broke out ; a profitable trade was carried on abroad with 
 many foreign markets, and merchants generally were satisfied with the 
 results of their operations. The commencement of hostilities changed 
 this happy condition of things, and gradually brought many miseries in 
 its train. The demand for goods was interrupted, and soon, in many 
 instances, indefinitely broken off. The producers of goods soon felt the
 
 change ; their accustomed outlets for goods were stopped, and a severe 
 competition for the remaining markets followed. The usual profits of 
 trade were not realized, and much apprehension ensued. Unfortun- 
 ately, this panic feeling was communicated to the Trustees in an 
 inordinate degree, and induced, on their part, a recklessness which led 
 to most painful consequences. It brought on a fight between Mr. 
 Alderman B.'s Trustees on the one hand, and Mr. W. B.'s Trustee on 
 the other. The original provocation came from Sir E. A. ; without con- 
 sulting Mr. S. B., or obtaining his consent, Sir E. A. resolved to prevent 
 the arrangement with Mr. S. B. as to the paying out of the concern of 
 Mr. W. B.'s money from being carried into effect. He had been a 
 consenting party to the arrangement, and was bound by it ; if he had 
 wished the arrangement to have been altered, he ought to have sought 
 to have done so by negociation ; he took the violent method, and did 
 the greatest injury to the business. Mr. W. B. was engaged under a 
 signed agreement to Mr. J. B. to serve him faithfully ; Sir E. A. induced 
 Mr. W. B. to break his agreement with Mr. J. B., and to violate the ar- 
 rangement entered into with Mr. S. B.; and so to arouse his wrath, that 
 afterwards, Mr. S. B. never was the same man as long as he lived. Mr. 
 S. B. entered into an action against the concern, and compelled Mr. 
 Alderman B.'s Trustees to allow payment to be made. The conse- 
 quences did not end there, it broke up the harmony which had always 
 existed before, and produced a strife, the effects of which are now felt 
 in full force. 
 
 This collision of the Trustees was noised abroad, and a great injury 
 was done to the trading position of the concern. The damage that 
 had accrued was from a reputed friend, and not from an enemy. All 
 the Trustees had become heated by passion, and each endeavored to 
 excel the other in the perversity and unreasonableness of their con- 
 duct. No injury ever came to the business except from the attacks of 
 false friends; and blows struck from the interior of a business are, 
 always the most deadly. 
 
 After Mr. J. N.'s death, Sir E. A., entirely upon his own authority, 
 and without consulting anybody, went to Messrs. S., H., & Co.'s, and 
 constituted Mr. S. H. as the legal adviser to the Trustees. Thus a 
 total stranger was brought into contact with the business, without the 
 consent and against the will of the parties interested in the property. 
 Mr. S. H., instead of seeking to have his position legalised, and to 
 promote the concord and welfare of the whole family, began to sow
 
 8 
 
 division wherever he could, and became the private partizan of Sir E. 
 A. The system of exciting differences amongst the Trustees inaugu- 
 rated his position as legal adviser to the Trustees. He induced Sir 
 E. A. to enter upon this hostile course ; Sir E. A. induced Mr. W. B. 
 to betray his employer, and strike a mortal blow at his dearest inte- 
 rests. Thus strife was introduced, and eventually total ruin was 
 brought down upon a noble business. 
 
 The credit of the business was greatly injured by this imeute 
 amongst the Trustees, and the confidence which had universally been 
 established was greatly weakened in tone. The Manchester and 
 Salford Bank were astonished at the conduct and behaviour of Sir E. 
 A., and became suspicious and distrustful in their behaviour. For a 
 period trade got worse and worse. The business was in crack trading 
 order, perfectly organized, and every way adapted to do well. The 
 concern was greatly enlarged, many valuable business connections 
 were established, and it only required the manifestation on the part of 
 the Trustees of patience and perseverance, for a few years, to place 
 the business in the very first rank in the town. 
 
 After the death of Mr. J. N., who had been their guide and friend, 
 the Trustees seemed to lose the excellent spirit by which they had 
 been actuated, and which had produced such capital effects ; and under 
 other counsels, another regime was established. The change was very 
 adverse. Competition became intense ; other concerns were absorb- 
 ing the business at prices much below cost, and lessening employment 
 from day to day. Instead of acting with due circumspection and 
 caution, Sir E. A. lost his head, and became bowed down with fear ; 
 terror got full possession of his mind, and drove reason from its 
 seat. This state of things was much to be regretted. The pains- 
 taking labor of forty years was not considered ; the welfare of his 
 departed friend's wife and children was disregarded. The battle had 
 been fought ; the victory had been won ; and the supposed difficulties 
 had been surmounted. With continuance in the same policy, the 
 brows of Sir E. A. might have been crowned with laurel, as the 
 honest man, as the upright administrator, and the sincere and faithful 
 friend. Unhappily for himself, and unhappily for those whose interests 
 he represented, he chose a different path, and forsook the path of 
 uprightness. He " did run well, what did hinder him?" In matters 
 of lesser as of greater importance, " he that endureth to the end 
 shall be saved." How much to be deplored, that he should hold in
 
 9 
 
 his hands the interests of those whom he injured so deeply and so des- 
 perately, and all for want of a little courage and manfulness in the 
 faithful and conscientious discharge of a very solemn duty. 
 
 The conduct of Sir E. A. shewed that his feelings had undergone a 
 complete revolution ; in fact, he was at this time, a dangerous and un- 
 scrupulous enemy. Instead of endeavouring to respect the rights and 
 properties of other parties, he became completely indifferent and abso- 
 lutely reckless. Instead of endeavouring to avoid and escape danger, 
 he seemed resolved to seek it, and determined to have it ; his mind was 
 poisoned. He did not stop to consider the effects of his behaviour ; so 
 uncontrollable was the power of prejudice over him, that he did not 
 ask himself where he was going to, and in what position he would 
 place the interests committed to his hand. The property of others had 
 been placed in his care on the faith of his respecting the covenants into 
 which he had entered ; Sir E. A.'s conduct was most unworthy. The 
 public had placed property in the hand of the concern, and were willing 
 to place ten times as much, on the faith of Sir E. A. regarding the 
 duties which he had undertaken to discharge. Why, without reason 
 or necessity, he should arbitrarily enter upon a course so unworthy, and 
 forsake the paths of rectitude and honour, has always been a mystery, 
 and is so now to this day. By what means were filched away from 
 his mind all regard to truth and fair-play, all respect for himself, all 
 love for his departed friend, all consideration for his own professions 
 and promises ; and why he should, at all risks, force another man, and 
 the interests of other persons, into a course of repudiation simply be- 
 cause he had the power and opportunity to do so, he must himself ex- 
 plain and excuse, by what means he thinks proper to use. Without 
 previous enquiry, and without notice, suddenly he pulled up the con- 
 cern, stopped its traffic, and put an extinguisher on its prosperity and 
 progress; thus Sir E. A. slipped from friendship into malice, from the 
 path of duty into a method of obstruction and mischief. He acted thus 
 by the influence of Mr. S. H. 
 
 The feeling which had produced this catastrophe, carried matters 
 along in the same course. Sir E. A. had outraged every feeling of 
 common sense ; he had sacrificed the principle of honour. That 
 principle which backs a man in the fulfilment of duty, Sir E. A. had 
 sneered at and despised, and so sacrificed the respect of the commer- 
 cial community. Even at this juncture, if he would have retraced his 
 steps and pursued the path of integrity, he had the proffer of universal
 
 10 
 
 sympathy and assistance. He chose otherwise, and the trading public 
 soon opened his eyes to the fact that repudiation does not pay. He 
 had offended old and long-tried friends, and sacrificed all the friend- 
 ships which had grown up with the business ; and made the concern 
 excessively unpopular, and transactions exceedingly difficult to effect. 
 A meeting was held of all the parties who were interested in the con- 
 cern. Sir E. A. had turned the concern completely over, and forfeited 
 its good name. He had taken an effectual step in its destruction, and 
 now he proceeded to take a second step. Mr. J. B., regretting the 
 course the Trustees had taken, submitted a proposal, to the effect that 
 time should be given, so that the concern might pay all claims with in- 
 terest ; and offering to allow, in the meantime, an inspection of its 
 operations. The Trustees, by their solicitor, overruled all proposals, 
 through a threat of bankruptcy proceedings held over the meeting, and 
 compelled the trade creditors eventually to forego part of their claims. 
 Mr. S. H. deceived all parties who had been in the habit, of trading 
 with the concern, and what is exceedingly curious, also wrested from 
 them their assent. He deprived them of nine shillings in the pound, 
 and spread over the payment of the eleven shillings in the pound, 
 without paying interest, during two years. Many, and loud, and 
 bitter were the complaints on account of this course of proceeding. 
 This act of confiscation was consummated at a second meeting, when 
 Sir E. A. was present as he did not venture to shew himself at the 
 first meeting, on account of the disgraceful part he had to play, but 
 ran away to London, leaving Mr. S. H. to fight the battle without him, 
 alone. 
 
 The Trustees had been exceedingly busy, running about, canvassing 
 here and there, in order to carry out their proposal. Their position was 
 a false one, on account of the part they acted. They made an applica- 
 tion to Chancery, in order to have all their proceedings endorsed, and 
 so endeavour to free themselves from liability. Their course at this 
 juncture was interrupted by Mr. C. S. S., who had married the young- 
 est daughter of Mr. Alderman B. ; he determined to turn things to his 
 own advantage, and did this in such a manner as to prove himself to 
 be a fit coadjutor with Sir E. A. himself. Resolving to secure himself, 
 and not caring for anyone, he insisted upon being paid preferentially 
 his wife's total claim. He threatened to make the Trustees responsible, 
 but he did it in such an offensive way to everybody, that no one would 
 coalesce with him for the consummation of his threat. How did the
 
 11 
 
 Trustees act in this straight ? They taxed the jointure of the widow 
 of the late Mr. Alderman B. with a life insurance policy to secure to 
 Mr. C. S. S. a collateral security, and by this means bought off Mr. C. S. S.'s 
 opposition at the widow's expense. Thus the rich executor acted 
 towards the poor widow, and deprived her for the remainder of her 
 life of three-fourths of the annuity her husband had left for her support. 
 Mr. C. S. S. having thus extorted from the fears of Sir E. A. this arrange- 
 ment, then entered secretly into a kind of alliance with the Trustees, 
 to annoy, and vex, and obstruct the progress of the concern. A con- 
 clave was held, and opportunity was seized hold of, in applying to 
 Chancery to obtain an agreement ostensibly for the future regulation of 
 the business. The checks which Sir E. A. had experienced, and the 
 criticism to which he exposed himself, irritated his temper to such an 
 extent, that his passions completely mastered him. His power was 
 now unrestrained ; and his malice, spite, prejudice, and hatred, broke 
 out with overwhelming violence. He took occasion to devise an in- 
 strument in conjunction with Mr. S. H., Mr. W. S., and Mr. C. S. S., 
 of a character as for ever to stamp him one of the meanest and most 
 tyrannical of mankind. It has only to be read in order to provoke the 
 indignation of all business men, and to cover its authors with disgrace. 
 Its provisions betray so much ignorance of commerce, and the way in 
 which it ought to be transacted, that it is a question whether its 
 perusal excites more the surprise or the sense of the ridiculous in the 
 mind of the reader. It seems to embody all the evil with which the 
 feelings of Sir E. A. had become embittered. Sir E. A. seemed to 
 call to his aid every means to pour on the head of Mr. J. B. all the 
 vials of his wrath. He wished to place upon Mr. J. B. a galling yoke, 
 with the view of crushing him down in anguish and despair. Sir E. 
 A. plunged into error after error, in one endless scene of folly, confusion, 
 and resentment. Obstinately pursuing his own way, he altered what 
 was right to wrong ; was angry with the effects of the wrong thing he 
 had done, and then went farther wrong. He wanted indelibly to fix 
 on Mr. J. B. all the responsibility and blame of the policy which he 
 had so wilfully practised ; and he seemed unwearied in pursuing the 
 principal victim of his cruelty, with all the persecution which a de- 
 praved heart could conceive, and carry into effect. In this policy Sir 
 E. A. never wavered nor faltered, until he had plunged everything 
 into a total ruin. 
 
 It was generally supposed that the business would be left intact;
 
 12 
 
 that its usual course would be followed ; and nothing done to injure or 
 obstruct its progress. The reality turned out to be absolutely different. 
 The rights of the proprietor were sought to be invaded, and an en- 
 deavor was made entirely to throw them aside. The new arrange- 
 ments produced great changes in the condition and prospects of the 
 business. 
 
 At the time Sir E. A. stopped the concern, the lease of the print- 
 works had rather more than two years to run. Mr. S. H. had set his 
 heart upon making a new lease, and breaking the old one. Mr. S. H. 
 was solicitor to the Earl of W. ; and the only thing he. cared for, was 
 to protect the interest of his principal client. For this end, he would 
 sacrifice every one else. It was a complicated arrangement to effect ; 
 inasmuch as Mr. W.'s lease ended at the same time Mr. J. B.'s lease 
 did. Mr. W. had held from the Earl of W., and Mr. J. B. held from 
 Mr. W. Mr. J. B. wished the lease he had to run to the end, in the 
 usual way. Mr. S. H. objected to this course. He induced Sir E. A. to 
 unite with him to compel Mr. W. and Mr. J. B. to break the old lease, 
 and to take a fresh one dating back about two years before the old 
 lease had run out. Mr. S. H. never cared for any other object than 
 this ; and when he had accomplished it, he showed his recklessness 
 about everything else. Soon after this, he entered upon a mad course, 
 and spited every one he was connected with, and should have been 
 concerned for. He injured the landlord's interest, and the family 
 interest ; he almost annihilated the creditors' interest, and quite ruined 
 the property and prospects of the owner. It is quite wonderful to 
 consider how lie could have contrived to do so much mischief. If he 
 had displayed half the talent and energy to conduct the affairs of the 
 concern to a prosperous result, he would have had to receive the 
 thanks of every one. Instead of that, he erected himself into a very 
 demon of perversity, and delighted in setting every one by the ears. 
 Every obstruction he could contrive, was put in the way of the trans- 
 action of business ; every difficulty he could raise, was magnified ; and 
 every objection he could suggest, was presented and pressed ; in 
 order that he might rule, and trample on the rights of every one 
 anxious about the matter. 
 
 As soon as the fresh regime was established, the effect upon the 
 credit of the concern was most marked. All the customers were dis- 
 concerted and timorous. Great losses followed this change of the 
 administration, and much property was sacrificed. Mr. J. B.'s power
 
 13 
 
 and control of the business were destroyed, and he had no influence 
 of a direct character. It was curious to see the demoralising effect 
 upon the various servants employed. One after another seemed to 
 become corrupted and spoiled. From the long working of the concern, 
 there was not in the trade a better or more harmonious body of work- 
 people. Their character and conduct rapidly deteriorated ; and the 
 excellent discipline which had so long prevailed, seemed to be relaxed 
 and destroyed. Less work was done, and done in a worse manner. 
 The cheerful emulation in the discharge of their duty had passed 
 away, and a dogged carelessness and indifference were exhibited in the 
 fulfilment of their obligations. Thus the perverseness in the policy 
 and practice of the Trustees, was strongly marked in its operation upon 
 the employes engaged in the business ; and produced annoyance, 
 mischief, and injury, from time to time. 
 
 If the Trustees had been animated by integrity, they would have 
 taken care to have arranged the conducting of the business so that no 
 restriction should be placed on its progress, and no barrier in the way 
 of its prosperity. Instead of this, the Trustees violated all the prece- 
 dents of the concern. They had all the plans of a business which had 
 been highly successful. Instead of treading vigorously in the old foot- 
 steps, they would not act in conjunction with its old friends ; and 
 jeopardised the whole property by carrying the business into fresh 
 channels, which were not prepared for, nor capable of sustaining it. 
 
 To manifest such a spirit of recklessness and childishness in the 
 treatment of the property of other people, and to be so careless of 
 everything, provided they came off scot-free, rendered the proceedings 
 of the Trustees of the most foolish and dangerous character. 
 
 Instead of taking care to obtain from the Court of Chancery powers 
 of a business-like character, the Trustees had acted with the greatest 
 rashness and caprice. Although surrounded by those who could afford 
 the soundest information, they preferred acting after their own 
 judgments. They ought to have revived the concern, after all the 
 adverse influences to which it had been exposed. They should have 
 arranged financial matters so as not to cripple its operations. Every- 
 thing should have been done to stimulate activity and reward progress. 
 They had absorbed the powers of the business in their own hands ; 
 and what did they do with them ? Everything was done to repress 
 the action of the concern, and render the business difficult. It was the 
 policy to starve and enfeeble its operations. It was desired only just
 
 1-1 
 
 to let it live, but to forbid a vigorous life. This behaviour on the 
 part of men who held all the resources of the concern in their own 
 power, was the most painful that can be conceived. If the Trustees 
 were referred to on any business, their replies were evasive and uncer- 
 tain. There was nothing hearty or sincere about them. Having 
 knocked the concern down, they showed permanent bad feeling ; but 
 no candour, no regret for having done wrong, and no endeavour to do 
 right for the future. 
 
 The Trustees were very fond of personal attention ; but never gave 
 any fair or reasonable behaviour in exchange. They were very fond 
 of getting to know the opinions of every one else ; but would not co- 
 operate in a friendly spirit for the prosecution of business objects. 
 Persons were continually finding out that no right use was made of 
 trade communications ; but employed in a totally unscrupulous manner 
 to defeat right objects, and to advance a contrary policy, however 
 opposed to the interest and welfare of the business. Their principles 
 of action were so contrary to reason, as to make persons feel that they 
 had in the Trustees unpitying and dangerous enemies. It was found 
 to be dangerous to go to them with the complaint that anything was 
 wrong, and with the view of having it ameliorated. Instead of attain- 
 ing their object, persons were met with opposition and abuse. This 
 kind of conduct coming from persons less informed than those techni- 
 cally instructed, and having a long and particular experience, was 
 anything but agreeable. How could it be otherwise than that conduct, 
 so ungentlemanly and unfair, should have the worst effects? Thus 
 the Trustees got a cord tied round the throat of the concern, and most 
 iniquitously did they use the power which they had so unrighteously 
 obtained. 
 
 In this second application to Chancery, the Trustees had procured 
 an instrument for the regulation of the business. In accordance with 
 its provisions, Mr. J. B. had a formal part to take. Mr. J. B. had the 
 nomination of the manager ; while Sir. E. A. held a veto, and there- 
 fore could affirm it, or negative it, at his pleasure. Mr. W. B. having 
 the track of the business in his hand, and being used to the customers, 
 was the person most qualified to promote the interests of the business, 
 and therefore best fitted to have the appointment. It appears that the 
 Trustees had had a private quarrel amongst themselves, and Sir E. A. 
 negatived the nomination. Mr. J. B. then nominated Mr. G. B. to 
 fill the office of manager. Mr. G. B. was the youngest son of
 
 15 
 
 Mr. Alderman B. ; was interested under the will, and therefore, from 
 birth and position, very well fitted to fill the appointment with safety 
 to all interests involved. His appointment would have been popular 
 with the young men engaged in the business, and would have been 
 sympathised with by the public. Sir E. A., however, absolutely 
 refused to ratify this appointment. Sir E. A. seemed determined to 
 exercise the power he possessed in the most offensive manner. He 
 would give fair speeches, but his deeds were out of harmony with his 
 words, and were of the most despotic type. Mr. J. B. then nominated 
 the Works Manager. Sir E. A. again met the nomination with a 
 point-blank refusal. Indeed, he seemed determined to refuse any one 
 calculated to act well for the concern. What was to be done ? A 
 great establishment was standing in order to receive its governor, be- 
 fore trade could be proceeded with. In this juncture, Mr. W. S. brought 
 forward a party who was accepted by Sir E. A. Mr. W. S. recommended 
 him as a quiet, harmless man, who would not interfere with the 
 business. He turned out to be too ignorant to be harmless ; and was 
 also perverse and obstinate in his behaviour, and offensive in his man- 
 ners. In course of time, he became a tool in the hands of the 
 Trustees to do anything the Trustees wanted him to do, whether ac- 
 cording to the decree of the Court of Chancery or not. His name was 
 Mr. U. He had been a calico printer, and had quarrelled with his 
 partner. He had embarked his capital in a business of which he was 
 more ignorant than of his own ; became an adventurer upon the 
 tender mercies of the public to unfortunate men, and found Mr. W. S. 
 merciful to him at Mr. J. B.'s expense. 
 
 The preparations were now complete. The Trustees had now gone 
 through a long series of changes. They had had a most hazardous 
 journey, and now they had a breathing time. Had they mended 
 matters ? They had upset the established order of things which had 
 existed during many years, and had produced admirable results ! 
 These changes were not beneficial. The judgment of the Trustees 
 was altogether at fault, and they had grievously erred. For the end 
 they had gained, they had wasted a great deal of property, offended a 
 great number of persons, and had pursued an utterly unscrupulous 
 course. Did they now begin to reflect upon what they had done, and 
 begin to act wisely ? Unhappily the report of their proceedings mani- 
 fests no improvement in their temper or their principles. Unhappy 
 influences still prevailed in their counsels, and the results were as bad 
 as could be prognosticated.
 
 16 
 
 A very curious state of things now existed. Practically speaking, 
 Sir E. A. was the head of the business, and Mr. U. was his prin- 
 cipal agent. Mr. J. B.'s place in his own business was absolutely 
 nominal ; and, at a pinch, he could be positively entirely dispensed 
 with. Did Sir E. A. really look after the interests of the business, 
 the same as if it had been his own ? He was accustomed to a business 
 of an entirely different character, and he might at times be strangely 
 perplexed with a trade so very different from his own. His business 
 was a spinning and manufacturing business. He now entered upon 
 the supervision of a bleaching, printing, and dyeing business. He had 
 received no training, and possessed no information on the nature of the 
 trade. In addition to this disadvantage, he left a large and important 
 business entirely to servants ; and very much they abused his confi- 
 dence. There had been a quarrel between the Trustees. As a con- 
 sequence, Sir E. A. would not give the principal position to Mr. W. 
 B. Mr. W. B.'s pride was hurt, and he neglected his duty. He said 
 he could not take the second place, and confessed he had neglected his 
 duty. The Official Manager could not steer the ship. He could not 
 be made to comprehend what the duties were he had to fulfil, and 
 therefore never performed them. Mr. W. B.'s dereliction of duty, 
 and the utter incapacity of the Manager, produced a loss of business, 
 and consequently a loss of money. The Manager did not in any way 
 respect the agreement for conducting the business ; and continuing the 
 same course without improvement, or adaptation of himself to the 
 circumstances in which he was placed, both he and Mr. W. B. had to 
 be dismissed. In proceeding to elect the successor, there was very 
 little choice. The second Manager of the concern was a connection 
 of Sir E. A.'s, and his name was Mr. H. This man had been a partner 
 in a printing firm, which had broken down under disastrous circum- 
 stances. He had also been for many years responsible Manager of a 
 print business ; and that also broke down in his hands. Upon this 
 man, Sir E. A. had set his heart. He proved to be entirely incapable 
 of managing the business. What to do, he seemed entirely at a loss 
 to know ; and how to do it, was quite beyond his power. He finished 
 the disarrangement which the previous Manager had commenced. He 
 pulled down the old organization, and never substituted a fresh one. 
 He wasted time, kept a large concern without work, was completely 
 nonplussed, and could not extricate himself from embarrassment and 
 difficulty. He was not at all fitted for this kind of business, for he
 
 17 
 
 did not understand it. He was a most careless, ignorant, procrasti- 
 nating person ; and Sir E. A. must have been exceedingly ashamed of 
 having given him the appointment. He loved to carouse and amuse 
 himself. Work he abhorred, and always desired to run away from. 
 His stay involved a tremendous loss. He received a three months' 
 notice to leave, and then ceased to interfere. The change was im- 
 mediate. The concern seemed to be relieved from an incubus which 
 pressed it down. The people engaged on the business did their duty ; 
 and the business sprung into life, and a good trade was done. There 
 was daylight now, after a long period of darkness. The goodness of 
 the concern, notwithstanding the mutilating process it had undergone, 
 was now proved. It was now only necessary to pursue the right 
 track, and the concern from this time would have made rapid strides 
 and been crowned with triumphant success. 
 
 If Sir E. A. had now remedied the proved defects of the manage- 
 ment agreement, or else dispensed with it entirely, he would have 
 retrieved all his previous errors, and secured the property to its right- 
 ful owners. This reasonable line of conduct he would not follow ; but 
 persisted in carrying out the letter of the agreement, while he absolutely 
 violated the spirit of it. If Sir E. A. had had one spark of feeling, or 
 possessed one iota of right principle, he would not obstinately have 
 carried on an arrangement shewn to be destructive to the energies of the 
 business, and fatal to its existence. Both managers had entirely 
 misunderstood the course they ought to have taken ; and now it had 
 been placed unmistakeably before Sir E. A. the way they ought to 
 have followed. Both managers violated their obligations. They endea- 
 voured to close the London and country trade ; and thus shut off the 
 concern from its most lucrative occupation, and most wealthy connexion. 
 They endeavoured to throw the concern entirely into the hire business, 
 and amongst a poor class of customers. This they did, by placing 
 obstacles in the way of the execution of business which presented itself. 
 Their conduct lost all appearance of propriety, and assumed a most 
 violent form and character. Sir E. A. cast away the golden 
 opportunity. He seemed exasperated in having to part with his 
 protege. It was of no use to shew his incapacity. He was deaf to all 
 argument. When Mr. H.'s notice expired, no man could be found on 
 the spur of the moment to fill the place ; and Sir E. A. would not 
 allow proper time to find a suitable person. He had the power, and 
 he would have back again, notwithstanding his proved incapacity, the
 
 18 
 
 man he had first sanctioned. He had made up his mind now to be 
 mischievous ; and he was so. When Mr. U. came back again, was 
 it found he had profited by his first dismission? Not in the least. 
 The man had lost all susceptibility of improvement. Experience was 
 lost on him. It did him no good whatever. Thus it is plain to be 
 seen Sir E. A. again did wrong. He had been shewn the right way. 
 He would not pursue it. By experience he had seen the errors he 
 had made. It had been pointed out to him how he might escape those 
 errors ; and yet he followed them in preference to a right, and wise, 
 and upright road. He would go the straight road to ruin and destruction. 
 
 The fact that SirE. A. had got the concern in his own power, and 
 that he could either make it or destroy it, was patent to all observers. 
 He must therefore bear the responsibility which he allowed to come 
 upon him, and answer at the bar of public opinion for all his misdeeds. 
 He had by experiment seen proved before his eyes, that the concern 
 was a first-rate one. He did not doubt it. Every pretence to mis- 
 conception was done away with. It was clearly understood that the 
 composition he had forced upon the creditors was wrong, and his 
 interference with the concern itself a violation of personal rights. Yet 
 notwithstanding this, while he was convinced himself, and every one 
 as well as himself likewise convinced, that, if he would fulfil the part 
 he had undertaken to discharge, all would go well, and turn out success- 
 fully, the resolution he took was quite the contrary. He seemed 
 determined to ruin the business. He strove to do this secretly, and 
 prevent all remark being made. He worked in the dark, and brought 
 to bear his wicked intentions. 
 
 When Mr. U. returned, for a period of nine months the concern 
 just kept its position, and neither made nor lost ground. The Trus- 
 tees and the Manager were obliged to shew in their conduct an appear- 
 ance of discretion. It had been demonstrated before many witnesses 
 what the business could do, if it were properly handled. After this 
 stationary condition, the concern again began to do well. The Mana- 
 ger, instead of quietly pursuing the road on which he was travelling, 
 and with every promise of advantage, went entirely wrong. His con- 
 duct was, however, very difficult to explain. It was, indeed, quite 
 inexplicable. How to account for it was a mystery. He had formed 
 some plan in his own mind ; but of what nature, did not immediately 
 appear. Whether it came from himself, or was by the suggestion of 
 another, never came to light. Instead of fulfilling his duty, quietly
 
 19 
 
 and perseveringly, he turned from the right path into crooked ways. 
 He was evidently bent on breaking through all rules. There was a 
 fixed purpose manifested entirely to depart from the management 
 agreement. There seemed to be, on the part of the Trustees, a deter- 
 mination to back him in his conduct. There seemed to be an indiffer- 
 ence as to what the manager did, and a disregard of all the regula- 
 tions which the Trustees had forced into practice. The animus was 
 exceedingly bad. There was great irritation, and all the manifesta- 
 tions of a storm. A conspiracy was hatching. The Manager wrote a 
 letter to the Trustees, alleging complaints against Mr. J. B. Mr. J. B. 
 replied to this communication, and shewed cause to the Trustees why 
 he should be dismissed. He had broken, and continued to break, the 
 provisions of the management agreement ; and it was impossible to 
 allow him to continue to do this. 
 
 At this time, raw materials rose rapidly in value, and disturbed the 
 usual calm and regularity of business. Trade diminished for a time, 
 and caused the margin between cost and profit to be obliterated. Also 
 two persons failed, owing between them a considerable sum of money 
 to the concern, and through whom the Manager had imprudently ar- 
 ranged to do a great deal of business, although warned both by Mr. S. B. 
 and Mr. J. B. not to trust these parties. A great loss of money and 
 a great loss of trade followed. Sir E. A. resolved to use this circum- 
 stance to put an end to the concern, and to make it of fatal effect. 
 He had himself been the cause of this loss being incurred, in obsti- 
 nately sticking to a management which had been repeatedly proved 
 guilty of infractions of the agreement, which gave the powers to act. 
 Sir E. A. still pursued an unworthy line of conduct. He daily com- 
 mitted unblushing violations of his engagements. He began to play 
 fast and loose, and deferred from day to day the appointment of a new 
 Manager, although continually solicited to do so. He kept referring 
 Mr. J. B. to Mr. S. H. ; and Mr. S. H. kept referring Mr. J. B. to Sir 
 E. A., bandying Mr. J. B. about between Mr. S. H. and himself, and, 
 on the most frivolous grounds, keeping the question from a settlement. 
 In the meantime the conduct of Mr. U. became so scandalous, and 
 the injury to the business so outrageous, that it could only be explained 
 by his having received secret instructions from Sir E. A. to this effect. 
 
 Mrs. B., the widow of Mr. Alderman B., paid a visit to Sir. E. A. to 
 remonstrate with him on the violation of his agreements with her. 
 He had lessened by three-fourths her income to protect himself, and
 
 20 
 
 he was now on the highway of departure from the fulfilment of the 
 promises which he had made under circumstances of the most binding 
 character. How did he receive her? He despised her tears, and 
 mocked at her remonstrances. She was in his power, and much did 
 he care whether he would keep his promises or not ! Her interven- 
 tion failed to awaken in his mind any sense of duty. His conscience 
 had become seared as with a red-hot iron. Sir. E. A. kept on in the 
 same heartless course. From day to day, from week to week, he 
 pursued this destructive mode of breaking the back of the business. 
 
 Indeed, from this time, persecution of the business became the order 
 of the day. The most shameful opposition to the pursuit of the 
 business was given. Systematic, offensive, and disgraceful means, 
 were used to put an end to the concern. The conspiracy was now 
 organized, and secretly at work, to destroy the business by innumerable 
 petty annoyances and neglects. Threats were made, the most shame- 
 ful rumours circulated, and all sorts of modes devised to pull down the 
 business. The plot thickened, and the plans of the conspirators culmi- 
 nated ; and final efforts were put forth to crush the concern. It 
 was hard to destroy. It had struck its roots deep, and on every 
 side. Its enemies were determined ; and at last their purpose was 
 accomplished, and their wicked design was realized. 
 
 When the plans of Sir E. A. had ripened, he held a meeting with 
 closed doors, and none were admitted but Mr. W. S., Mr. S. H., and Mr. 
 S. B. It was there and then resolved to put an end to the business. 
 Sir E. A. would not approve a new Manager, stopped the traffic, made 
 no provision to meet the pecuniary engagements of the business, and 
 threatened Mr. J. B. that, if he did not go to the Court of Bankruptcy, 
 they would use compulsory means to force him there. It was the 
 argument of brigands ! They attack the peaceful traveller, and, pre- 
 senting a pistol to his brains, compel him to yield his purse. Although 
 a ward of the Court of Chancery, Mr. J. B. was forced into the Court of 
 Bankruptcy. If all the engagements of the concern had been fulfilled, 
 and all its contracts executed, there would actually have been no trade 
 debts. The money owing was so small, that the concern has often, in 
 its progress, turned over more money in a fortnight, than was due to 
 trade creditors altogether. The creditors were indignant that, for so 
 small a sum, so magnificent a business should be absolutely and utterly 
 sacrificed. The creditors were willing to act in any reasonable man- 
 ner to prevent this wholesale waste of property. The Trustees, how-
 
 21 
 
 ever, persisted in their course. The consequence was, the whole 
 concern was torn up from end to end, the lease surrendered, and the 
 whole plant and material thrown away. 
 
 Mr. S. H. had induced Sir E. A. to violate every promise, neglect 
 every engagement, and to set at nought every duty and obligation. 
 Sir E. A., by the advice and at the instigation of this man, descended 
 to the same level of action. Why had all this mischief been done ? 
 Why had Mr. S. H. been paid in order to wreak ruin and destruction 
 upon a valuable trade ? The envy of Sir E. A. was gratified at the 
 expense of his honesty. He had brought this total ruin upon the son 
 of his friend to shew his power, and that he might exercise his malice ; 
 boasting that there was no one to bring him to account, and make 
 him to answer for the wicked deeds of wrong he had done. 
 
 Sir E. A. violated the covenants into which he had entered with Mr. 
 J. B. Did he respect the engagement into which he had entered with 
 Mrs. B. ? He did not. He had appropriated her property to protect 
 himself from Mr. C. S. S. He had made most solemn promises to her 
 that truth, honour, and uprightness, should govern all his relationships 
 to the business. By cruelty and oppression, he broke away from those 
 most sacred engagements. When he had thus run away from all his 
 engagements, did he return the money he had taken from her ? He 
 did not. The Jew had grasped the " pound of flesh," and kept his 
 grasp upon it after he had broken the bond, and never let it go while 
 she lived. Thus Sir E. A. acted towards the widow of Mr. Alderman 
 B. ; and, instead of protecting her, did her as much injury as lay in 
 his power ; and he never varied in his behaviour till she died. The 
 worst part of his conduct to her consisted in his breach of faith. That 
 he had turned out thus, pressed on her spirits, and eventually broke 
 her heart. If he had acted a just and righteous part, there was every 
 prospect of her living in comfort and honour for many years ; but he 
 " brought her grey hairs with sorrow to the grave." It is to the last- 
 ing discredit of Mrs. B.'s other friends, that they quietly looked on 
 to see the mischief Sir. E. A. was doing ; allowed things to take their 
 course without notice, and did not lift a finger to remonstrate with or 
 prevent him. Thus Sir E. A. had made victims to his ignorance, 
 envy, and malice, of a whole family. He seemed to hate all alike, and 
 all pretty equally. He had made away with a property, equal in all 
 respects to his own. What a disgrace to a man of business to conduct 
 himself in such a manner ! He had disobliged an immense number of
 
 22 
 
 persons, and could give no account of, and make no excuse for, the 
 unreasonableness of his behaviour. He had managed to bring an 
 insolvency and a bankruptcy upon one of the crack businesses of the 
 city of Manchester. He had no reason to give for his extraordinary 
 behaviour. He was prejudiced against the proprietor ; and for this 
 lame cause, he must plot against him, act as a secret and then as an 
 open enemy, and never cease his pursuit until he had thrown down, in 
 a prostrate state before him, the whole concern. 
 
 The finale has been to annihilate Mr. J. B's. property, to deprive the 
 legatees under the will of the greater part of theirs, and to victimise 
 the trade creditors. From the treachery of one person has flowed the 
 sacrifice of a great capital, the destruction of a noble business, the 
 dispersion of a large number of industrious persons, causing great 
 individual distress, and the breaking up of valuable business connections. 
 
 Mr. S. H. had planned that Sir E. A. should become the possessor 
 of the business. Sir E. A. offered to give one quarter of its value for 
 it. He had deceived the public twice, he had plundered the proprietor 
 and legatees, and the end of it all was, that he might profit by it. 
 For this, he had laboured through such a scene of violence, as had 
 never been known before. Mr. J. B. did not desiderate this fox-and- 
 goose kind of work. He was not anxious to bestow upon Sir E. A. 
 a fortune, for all the abuse, annoyance, mortification, and losses, to 
 which he had been subjected. If Sir E. A. had prospered in his 
 plans, he would have netted .60,000 at once, and made a profit of 
 10,000 per annum, in permanency. He managed to force the 
 business out of Mr. J. B.'s hands, and to rob him of all the advan- 
 tage to be derived from it. He could not manage to get legal posses- 
 sion of it for himself. He failed in that. As he could not enjoy it 
 himself, he took care that no one else should be able to do so. He 
 therefore planned its total destruction. This he carried through, and 
 left the place of fruitful industry a complete desert. If he had conie 
 at night and set fire to the property, he could not have made a more 
 utter destruction. 
 
 No one but those who have experienced it, can tell the difficulty and 
 trouble in establishing, and bringing to perfection, a producing business. 
 Sir E. A. had, however, no consideration for any one or any thing. 
 He must trample upon every one else. The course of Sir E. A. 
 displays the evils of an unrestricted selfishness. He must oppose the 
 current course of events, and the nature of things. He could not
 
 23 
 
 be satisfied with things when they were doing well. He must be dis- 
 satisfied, and raise difficulties and obstacles, and make himself a 
 nuisance to every body. He could not improve upon what was done. 
 It was not likely. He did not possess the requisite knowledge. How 
 miserable the disposition of the man, who could thus make himself so 
 gr at a curse ! 
 
 Nothing can surpass the Court of Bankruptcy for the waste of 
 property. The inferior agents are nothing better than thieves ; and 
 the whole system, from beginning to end, is as profligate and unprinci- 
 pled as can be conceived. The attorney bows to the banker, the 
 valuer to the attorney, and the auctioneer to the public. To part 
 with property through the Bankruptcy Court is looked upon as dis- 
 creditable, and all becomes a prey for the advantage of those who do 
 not mind the disgrace. Mischief to, and fraud upon, every one, is the 
 order of the day. The plan to cleanse this Augean stable has not yet 
 been devised. It has eluded all the skill and knowledge which have 
 been brought to bear upon it. The state of the law is certainly a 
 disgrace to a civilized community. At this lamentable end did Sir E. 
 A. arrive ! 
 
 It is very remarkable that Sir E. A. should show to the world how 
 a man ought to behave ; and when he had proved his ability to do his 
 duty, he should suddenly turn round, and make himself as awkward 
 and as unpleasant as possible. Through the unlawful violence of Sir 
 E. A., Mr. J. B.'s business was totally destroyed, and his every move- 
 ment and active efforts were frustrated. No explanation can be offered 
 for the determined and wilful sacrifice of this valuable property. Sir 
 E. A. was resolute in his purpose to make away with the fortune of 
 another man, although nothing but mischief and evil could result from 
 the perpetration of such a crime. 
 
 When the concern was placed in the Court of Bankruptcy, Mr. J. B. 
 found insuperable obstacles thrown in the way of any negociation for 
 the resumption of business on honorable grounds. Mr. J. B. was in the 
 peculiar and distressing position of being able to pay every trade debt 
 on the fulfilment of his contracts ; and yet, through the inexorable 
 perversity of Sir E. A., his business course was arbitrarily stopped, his 
 contracts broken, his creditors victimized, and himself utterly ruined. 
 Sir E. A. cast into the abyss of bankruptcy the inheritance of another 
 man, the use of which, to its rightful possessor, would have resulted in 
 great pecuniary advantage to himself, and in the performance of all the
 
 24 
 
 obligations, by which the proprietor of the business was morally and 
 legally bound. 
 
 Mr. J. B. has great reason to be dissatisfied with Mr. W. S. He is a 
 sharp and clever man, and he displayed considerable talent in certain 
 negociations about the business. If he would form his opinions more 
 carefully, defend them more earnestly, and hold them more tenaciously, 
 he would be a first-rate man. From his habits of life, and large 
 practice in cases of insolvency, he is greatly defective in firmness of 
 purpose. He also takes liberties with people he comes in contact with ; 
 and no one is safe from his sarcasms. It was a shameful affair, that 
 he should have been a consenting party to the provisions of the 
 management agreement. His want of firmness of purpose was most 
 displayed in abandoning his client in a critical state of his affairs, and 
 going over to the side of his opponents. 
 
 In reference to the conduct of Mr. S. H., there is the gravest 
 reason for condemnation. He could not be responsible for Sir E. A.'s 
 peculiar temperament and behaviour. He ought, however, to have 
 acted with honesty, and caution, and regard to the interests of all 
 parties concerned. He manifested the greatest ignorance of trade. 
 His practice is principally that of a conveyancer, and he has a particular 
 aptitude for bullying tenants. Instead of putting forth his energies to 
 make the best of matters, and to improve circumstances for the good 
 of all, by his rashness and recklessness, he has caused the greatest 
 losses of other people's property. To take care of himself is the 
 hourly maxim of his life. Why should he not equally care for his 
 clients ? His obstinacy, and impudence, and falsehood, are most out- 
 rageous. He shamefully misrepresented the property, and tried 
 publicly to depreciate its value by representing that it was not worth 
 one-tenth of what it had cost. To gain a purpose of his own, he would 
 say anything, and do anything, within the pale of the letter of the law. 
 It is a monstrous state of things, that this man, who need not have 50 
 as his stock-in trade, should have the opportunity, by his folly and in- 
 capacity, to demolish a large mass of property. The talons of such a 
 man ought to be cut, so that he should be prevented from inflicting 
 losses upon persons engaged in commerce. By secretly encouraging 
 the Managers to depart from the direct instructions of the Court of 
 Chancery, by defending those infractions when complained of, and 
 by raising up difficulties in the way of working the concern through 
 neglects and delays, he deserves Mr. J. B.'s most hearty and indignant
 
 25 
 
 condemnation. He displayed the worst animus throughout his whole 
 connection with the business. His policy to snatch the concern out of 
 the hands of the proprietor, and throw it into the hands of Sir E. A. 
 was utterly unscrupulous. 
 
 It seemed a wrong and irrational piece of conduct for Sir E. A. to 
 go to Mr. S. H. to conduct commercial affairs. It was a wicked thing to 
 go to a man who had no experience and no knowledge of the subject. 
 Mr. S. H. had received no commercial training. He thus precipitated a 
 property, having large capital, into destruction. A business which had 
 gone on prosperously for years, in the hands of this man suddenly col- 
 lapsed, and immense losses ensued. The work of destruction was his 
 work. Without considering for a moment whether what he was doing 
 was right, he just looked to what was easiest for himself, and accord- 
 ing to the letter of the law, and carried on the work of victimising his 
 clients with exultation ; boasting of the means he employed, and re- 
 joicing in the misery he was producing, while he saved himself from 
 personal liability. 
 
 All Barristers and Attorneys ought to be required to pass a com- 
 petent examination before being permitted to practise within the 
 domain of commerce. They ought to understand the principles upon 
 which trade depends, and how it ought to be conducted. They ought 
 to be responsible for the right use and application of this knowledge. 
 If any considerable loss of property should accrue by their fault and 
 negligence, an enquiry ought to be instituted, and they should be dealt 
 with accordingly. 
 
 The law of forced sale, as at present carried on, is a public scandal. 
 The absolute abomination of persons being compelled to sacrifice an 
 immense fixed property for an inadequate cause, is a system of confis- 
 cation and robbery. It is a wicked oppression to compel a man to part 
 with a concern, which has cost a large sura, for a nominal price. 
 There ought to be provided a national Bank by which accommodation 
 might be procured for fixed property, on rates profitable to the Bank, 
 but not absolutely ruinous to parties availing themselves of its accom- 
 modation. 
 
 It must be acknowledged society has an interest in suppressing all 
 individual oppression. It is said property is worth nothing but what 
 it will fetch in the market. It is no use to offer to sell, if there are no 
 persons able to buy. To be compelled to sell for a tenth or twentieth 
 part of the cost of production is au outrageous injustice. It may be
 
 26 
 
 possible that there may be no persons having sufficient money to pur 
 chase, or may not choose to purchase, even though it might pay them 
 to do so. It may answer to work a concern, but not to sell it. Per- 
 sons ought not to be compelled to sell for a miserably inadequate price 
 against their own will, or for any sum that Jack, Tom, or Harry, may 
 happen to fancy to give them. 
 
 Mr. S. H. must always be regarded as the active agent in compassing 
 the great mischief to Mr. J. B. His vanity, violent political opinions, 
 bitter resentments, and ignorant prejudices, were the causes of his 
 foolish conduct. He had a fine opportunity to display ability, but he 
 never could be got to act on the principles of business, but everything 
 must be transacted according to obsolete and antiquated feudal ideas. 
 
 Mr. J. B. finds great fault with the Banker, in refusing trade facilities 
 for conducting the business, which were important to its welfare. It 
 was, however, absolutely blameable on the part of Sir E. A.', that he 
 did not overcome the Banker's scruples. If the business was to be 
 carried on at all, it should have been carried on upon a system essential 
 to its prosperity. Mr. J. B. also blames the Banker for refusing advan- 
 ces upon due security being offered. What shall be said of Sir. E. A.'s 
 not allowing those securities to be negociated elsewhere, but compelling 
 their sale; thus causing a heavy blow being given to the business, 
 which he could have averted, without the cost to him of a single shil- 
 ling ? Mr. J. B. also severely blames the Banker for sanctioning Sir E. 
 A. in the annihilation of a good property ; causing a needless loss to 
 many persons, and destroying the income of a family, whose resources 
 were invested in the concern, and which were by this means thrown 
 away, and for no better reason than obstinate spite and peevishness. 
 The Banker, having acknowledged and sanctioned the procedure of the 
 business, should have acted harmoniously with that sanction, and acted 
 unitedly with the Trustees. 
 
 There is in the behaviour of a private Banker great danger from 
 caprice. To-day, you can do business with him ; to-morrow, you can- 
 not; then, again, you may do business. The business of a private 
 Banker is not regulated on any fixed principle, which can be depended 
 upon. The Bank of England is a kind of public institution, and bears 
 great sway and influence in money transactions. It is a private cor- 
 poration under government patronage, influencing the financial 
 operations of the trade of the country. Banking is a kind of business, 
 which partakes of a public character. The word of a Banker for a
 
 27 
 
 man, or against a man, goes farther than that of any other trader. As 
 the property of Bankers is all in coin, or bills, or documents, of one 
 kind or another, and as it is always their object to be able to convert 
 these readily, Bankers always sneer at fixed property. They invariably 
 unduly depreciate it. Without fixed property, there could be no floating 
 property. Fixed property becomes useless, when floating property is 
 not in due proportion, to give effect and use to that fixed property. 
 
 The modern practice of Bankers, in managing their business, is very 
 different from what it was formerly. All producing businesses are not 
 regarded with favor by Bankers. Their policy is to favor all merchant 
 and agency operations, and to depress the operations of all concerns 
 employing much fixed capital. In times of panic and long depression 
 of trade, there is a danger of fixed properties losing their floating capi- 
 tal, or reducing their capital below the just proportion necessary for the 
 comfortable carrying on of their business. Under such circumstances, 
 the action of Banks upon their present system of management, is enor- 
 mously to exaggerate the difficulty of conducting business. In the event 
 of a crisis, Banks generally throw their influence on the side of sacrific- 
 ing a large fixed capital, for the sake of realising a small sum of money. 
 
 Checks in business, upon the part of firms having large fixed pro- 
 perty, under the united pressure of the Banker and the Attorney, 
 have resulted in losses fabulous in amount ; and have reduced the 
 treatment of property, under such circumstances, to a process very 
 much like swindling under the protection of the law. What is the 
 remedy for this state of things ? There are two courses to follow. 
 To take out of the hands of government all influence in the monetary 
 arrangements of commerce, and leave them entirely open to public 
 competition. The alternative is, to make Banking a part of the 
 system of government, under the control of a Minister responsible to 
 Parliament. It should be managed like the Post Office, and upon 
 principles regulated upon the statistics of commerce. The system, as at 
 present pursued, is a grinding monopoly, and hangs like a night-mare 
 upon every other trade. To have the business of the country carried 
 on with so small a bona-fide capital, as is now done, involves evils of 
 the greatest magnitude. Whatever the amount of business done, we 
 have only the same amount of floating capital in the country, by which 
 to conduct it. How is the financing, in the ever-varying state of 
 trade, managed ? It is done by a system of bills, regulated by the 
 will of the Bankers.
 
 What frightful injuries are suffered and inflicted by this unscru- 
 pulous system ! Upon the frown or favor of the Bankers, regulated on 
 no imaginable principle, but the passing fancy of the moment, the 
 welfare of thousands of persons, and millions of property depend ! 
 The most speculative and rotten concerns have often facilities, while 
 persons possessing ample property are frequently snubbed and incon- 
 venienced for no earthly reason whatever, beyond the whim or the 
 ignorance of the Banker. The most unbearable evils are endured, 
 and with a silence as deep as the grave, simply from the prejudice, or 
 timidity, or hostility, or hatred of the Banker. Let all men be treated 
 impartially, and in such a manner as can be certainly depended on. 
 Business operations may then go on undisturbed by the fear that, after 
 transactions have been effected with all due caution, they may be 
 knocked over in a quarter which has no right to influence them to 
 their prejudice. 
 
 Let it be arranged that the proportions of gold and silver employed 
 in banking, be kept in due proportion to the amount of the turnover 
 of the commerce of the country. Business ought not to be convulsed 
 by undue expansions and contractions of the currency. The whole 
 method of public finance ought to be regulated on distinct principles. 
 One fixed amount of the precious metals for a constantly expanding 
 commerce, is evidently absurd. The right amount, for the uses of 
 commerce, ought to be pitched upon according to the returns unfolding 
 the operations of trade, and varied according to the movements of 
 trade. Business ought not to be alternately inflated and depressed by 
 a method more resembling gambling on the one hand, and despotism 
 on the other, than anything like reason and common sense. Money is" 
 now professedly under the regulation of the law of the land. Let that 
 law be based on the facts of the case, and be a sound and real exponent 
 of the wants of commerce, and be designed to satisfy those wants. 
 
 Mr. W. B. deserves the reprobation of all parties. He was uncle to 
 Mr. J. B., and professed the greatest affection for him. That he should 
 have forgotten all the ties of a close blood-relationship, that he should 
 become unfaithful to his employer to whom he was engaged on a written 
 agreement, that he should be false to the interests of the Legatees 
 whose property he had entered into most solemn engagements to pro- 
 tect, that he should lend himself and make himself a party to the 
 injury of a highly respectable body of creditors, simply that he might 
 be a pander to Sir E. A., is a degradation beyond the power of Ian-
 
 29 
 
 guage to describe. He had been regarded by Mr. J. B. as the familiar 
 friend in whom Mr. J. B. might trust. He acted the part of a Jesuit 
 and a sycophant, that he might curry favour with Sir E. A. He did not 
 even accomplish his object, although he waded knee-deep in servility 
 for its success. Sir E. A. used him as a tool, and then loaded him 
 with contempt. Mr. W. B. disgraced his religious profession, by a 
 course of conduct utterly opposed to the principles of Christianity ; and 
 forsook the service of his God, that he might fall down and worship a 
 fallen fellow-creature. 
 
 In reference to the expose of the motives governing the behaviour 
 of Sir E. A., it is a somewhat prolonged task to give a full exhibition. 
 He was the son of poor and godly parents ; and had he regarded their 
 instructions, he never would have made shipwreck, in the humiliating 
 manner in which he has done. He was almost entirely uneducated, 
 and possessed that narrowness of mind as the result of poor abilities, 
 and want of proper instruction. In early life he made a religious 
 profession ; and during the life of his first wife, never made any striking 
 departures from moral rectitude. He attended the ministry of one of 
 the ablest men who ever occupied a pulpit, the late Rev. W. Koby, 
 of Manchester. He was surrounded by a number of pious persons, 
 whose example and watchfulness were useful in restraining him from 
 vice. His circumstances continued humble for a prolonged period. 
 Possessing great industry, he toiled unceasingly in the strife for wealth. 
 Gradually the passion for gold became exorbitant. It was said of 
 him, that he pushed aside everything for its sake. His family, his 
 religion, and his mental improvement, all suffered. Money he would 
 have 'at any price ; and he got it ; and sacrificed for that, his intellec- 
 tual, moral, and spiritual interests. Hence, for thirty years, his 
 pecuniary interests have been advancing, while his general character 
 has been retrograding. Instead of a general development of the whole 
 man, there has been growth in the acquisition of money, and declining 
 vigour in the most weighty matters. . As a man, a friend, and a Chris- 
 tian, there has been faithful and progressive deterioration ; and, like 
 Demas, for the sake of the things of this world, he has forsaken the 
 kingdom of Christ. He became less particular in the regulation of his 
 conduct. He began to oppress and grind the poor ; and for many years 
 his place of business was in the most degraded moral condition. He 
 has thus degenerated from the profession of Christianity into the 
 apostate, the hypocrite, and the worldling.
 
 This unhappy man, in conjunction with Mr. W. B., became, in an 
 evil hour, the Trustee for the estate of the late Mr. Alderman B. 
 The world has never beheld two men who have more egregiously 
 failed in the discharge of their duty. From the very first, Sir E. A. 
 manifested a litigious disposition, and shewed symptoms of levity 
 and carelessness, proving his friendship to be of a very precarious 
 nature, and based on very slippery foundations. In his relationships 
 with the concern, he shewed no tact or prudence. His only idea 
 seemed to be to save himself from trouble and responsibility. His 
 manner of acting had the most prejudicial effect. He shewed to every 
 one, with whom he came in contact, that nothing could be expected 
 from his friendship. He exercised an injurious influence on the minds 
 of all persons who had relationships witli the business, and shewed a 
 want of determination to back the concern. This mean and con- 
 temptible spirit was displayed through the greater part of his career. 
 He had the power to benefit the business, but the captiousness of his 
 temper caused him to recoil from the discharge of his duty. Whatever 
 could induce a man with his feelings to become a Trustee, is an 
 enigma. Whether he was in ignorance of the nature of the duties 
 he would have to discharge, or whether the difference of the busi- 
 ness to that to which he was accustomed galled him, cannot be 
 stated ; but, from some cause or other, the irritability of his 
 temper was aroused, and in general kept at a boiling tempera- 
 ture. Sir E. A. was a source of constant anxiety ; and there was 
 continual need for watchfulness, lest he should break out into some 
 wild extravagance or other, and commit injuries which never could be 
 repaired. Notwithstanding every care, at the time of the Kussian 
 war, he brcke through every restraint ; and without a single effort to 
 evade a difficulty, without a day's notice of what he intended to do, he 
 stopped the traffic, and forced on to the concern a process of insol- 
 vency ; and through his perverseness, brought down a deluge of evils, 
 from which there has not been a .moment's intermission from that clay 
 to this. 
 
 He was appointed a Trustee for the protection of the property. 
 It was supposed, from his character as a man of business, there 
 would have been some security for the due and intelligent administra- 
 tion of affairs. No greater hallucination could exist. He allowed 
 himself to become a mere puppet in the hands of Mr. S. H. ; and 
 all the more dangerous, because he acted the puppet. He was called
 
 31 
 
 to act in a sphere for which he was alike unfitted to act by education, 
 habit, and opinion, and he thereby produced the greatest disasters. 
 He professed to know his own business, and yet in another man's busi- 
 ness he outraged every principle of common sense. On-lookers were 
 shocked at his conduct. His excuses to his victims, and to persons 
 friendly to them, when they saw what they could scarcely believe 
 although they saw it, and intreated him to interfere and prevent fur- 
 ther mischief, were, " I am not responsible," and, " I act under legal 
 advice." He expected such an answer would silence all objections, and 
 quench all remonstrances. As he was in a good position, he found 
 encouragement in certain quarters ; and they would reply to his state- 
 ments, and say in a chorus, "You -could not have acted otherwise, 
 Sir E." He thus became an active agent to destroy that property 
 which it was his office to protect. 
 
 When Sir E. A. became possessed of unrestrained power over the 
 Concern, and everything was done at his bidding, there was not the 
 slightest improvement in his treatment of the business. Despots gene- 
 rally improve their administration, when they have knocked over all 
 their rivals. The reckless conduct of Sir E. A. was never more 
 plainly exhibited, than in th management of the business, after he 
 had obtained supreme power in its direction. Fear often produces 
 cruelty. The dread of losing his own property was so great as to 
 reduce him to a most pitiable condition, and rendered him utterly 
 unfeeling towards the interests of other persons. His sensitiveness, 
 lest he should compromise himself in the opinion of the world, delayed 
 him for a time in his wicked path. 
 
 His conduct since the catastrophe has been marked by the prevail- 
 ing characteristics which regulated his behaviour antecedent to that 
 event. It has consisted in an endeavour to justify himself by a per- 
 version of the facts of the case, and an attempt to throw upon others 
 the blame of what he had done himself. In doing this, he has been 
 altogether unscrupulous. Indeed, his violation of the truth was so 
 flagrant, as to be plain to every one who had any opportunity to com- 
 pare one part of his conduct with another. He had used his tongue 
 as a shield for himself. He desired to place everything in a false 
 light before others, and to resist any claims which might be made upon 
 him from the sufferers by his conduct. The intervention of old ac- 
 quaintances and friends to excite in his mind a sense of repentance for 
 the evils he has done, have been useless and inefficacious. His heart
 
 32 
 
 is too hard, his head is too stolid, his temper too false and treacherous, 
 and his character too degraded, for such means to have anything more 
 than a nominal effect. He would give sweet words, make the most gra- 
 cious promises, and break them without the slightest regard even to 
 appearances. A prolonged period has been given him for reflection ; all 
 his fallacies have been exposed and condemned, and he has been driven 
 into a corner ; and his only refuge has been in the most wilful mis- 
 statement, the most reckless indifference, and the haughtiest defiance. 
 
 What is the just treatment of such men, and what should be their 
 punishment? Shall they be allowed to plan the greatest crimes, and 
 carry them out, and then be excused from all punishment ? Is it for 
 the interest of society that such a course should be adopted ? Is it not 
 right that men who violate the laws of their country should be made 
 to answer for what they have done, and stand the consequences of 
 their offences ? Is a man, because he is rich, to be permitted to rob 
 others, and no mention to be made of his theft ? Shall Sir E. A. be 
 called upon to compensate those whom he has wantonly injured, and 
 whose rights and properties he has trampled upon and annihilated ? 
 He has outraged the laws of his country. It is for the judicature of 
 the country to pronounce upon his behaviour, and to say what shall be 
 done to him. 
 
 THE END.
 
 
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