Envy, like a dark shadow, follows closely the footsteps of prosperity;
success in any undertaking, out of the circle of genius, produces a
rival.--This I have instanced in our hackney coaches.
Profits, like a round-bellied bottle, may seem bulky, which, like that,
will not bear dividing: Thus Orator Jones, in 1774, opened a debating
society at the Red Lion; he quickly filled a large room with customers,
and his pockets with money, but he had not prudence to keep either. His
success opened a rival society at the King's-head, which, in a few
weeks, annihilated both.
The growing profits of our canal company, already mentioned, had
increased the shares from 140_l_. in 1768, to 400 guineas, in 1782.
These emoluments being thought enormous, a rival company sprung up,
which, in 1783, petitioned Parliament to partake of those emoluments, by
opening a parallel cut from some of the neighbouring coal-pits; to
proceed along the lower level, and terminate in Digbeth.
A stranger might ask, "How the water in our upland country, which had
never supplied one canal, could supply two? Whether the second canal was
not likely to rob the first? Whether one able canal is not preferable to
two lame ones? If a man sells me an article cheaper than I can purchase
it elsewhere, whether it is of consequence to me what are his profits?
And whether two companies in rivalship would destroy that harmony which
has long subsisted in Birmingham."
The new company urged, "The necessity of another canal, lest the old
should not perform the business of the town; that twenty per cent. are
unreasonable returns; that they could afford coals under the present
price; that the south country teams would procure a readier supply from
Digbeth, than from the present wharf, and not passing through the
streets, would be prevented from injuring the pavement; and that the
goods from the Trent would come to their wharf by a run of eighteen
miles nearer than to the other."
The old company alledged, "That they ventured their property in an
uncertain pursuit, which, had it not succeeded, would have ruined many
individuals; therefore the present gains were only a recompense for
former hazard: that this property was expended upon the faith of
Parliament, who were obliged in honour to protect it, otherwise no man
would risk his fortune upon a public undertaking; for should they allow
a second canal, why not a third; which would become a wanton destruction
of right, without benefit; that although the profit of the original
subscribers might seem large, those subscribers are but few; many have
bought at a subsequent price, which barely pays common interest, and
this is all their support; therefore a reduction would be barbarous on
one side, and sensibly felt on the other: and, as the present canal
amply supplies the town and country, it would be ridiculous to cut away
good land to make another, which would ruin both."
I shall not examine the reasons of either, but leave the disinterested
reader to weigh both in his own balance.
When two opponents have said all that is true, they generally say
something more; rancour holds the place of argument.
Both parties beat up for volunteers in the town, to strengthen their
forces; from words of acrimony, they came to those of virulence; then
the powerful batteries of hand-bills, and news-papers were opened: every
town within fifty miles, interested, on either side, was moved to
petition, and both prepared for a grand attack, confident of victory.
Perhaps a contest among friends, in matters of property, will remove
that peace of mind, which twenty per cent. will not replace.
Each party possessed that activity of spirit, for which Birmingham is
famous, and seemed to divide between them the legislative strength of
the nation: every corner of the two houses was ransacked for a vote; the
throne was the only power unsolicited. Perhaps at the reading, when both
parties had marshalled their forces, there was the fullest House of
Commons ever remembered on a private bill.
The new company promised much, for besides the cut from Wednesbury to
Digbeth, they would open another to join the two canals of Stafford and
Coventry, in which a large track of country was interested.
As the old company were the first adventurers, the house gave them the
option to perform this Herculean labour, which they accepted.
As parliament have not yet given their determination, and as the printer
this moment raps at my door, "Sir, the press waits, more copy if you
please," I cannot stay to tell the world the result of the bill; but
perhaps, the new proprietors, by losing, will save 50,000_l_. and the
old, by winning, become sufferers.