the course of a somewhat lengthy tour, brought her to Birmingham, to
see some of the principal manufactories. Arrangements were made for
their stay at Willday's Hotel, now the Eye Hospital, in Temple Row. On
the day they were expected, a guard of honour, consisting of a company
of Infantry, was in attendance, and, pending the Royal arrival, waited
near the Rectory, in St. Philip's Churchyard. By a very singular
chance, the officer then in command became, years after, the Rector
of St. Philip's, and the occupier of the house before which he waited
that day. He is now the Dean of Worcester, the Hon. and Rev. Grantham
M. Yorke.
As the hour of the arrival of the Royal visitors approached, the
troops drew up in front of the hotel, and they presented arms as the
carriage arrived. A great crowd had assembled. There were no police
then, and order was badly kept. As the Princess alighted, a lady,
standing near the door of the hotel (Mrs. Fairfax, who recently lived
in Great Charles Street), moved by a sudden impulse, rushed forward,
caught the Princess in her arms, and kissed her. The Duchess was
annoyed, and the attendants, too, were very angry; but the crowd,
recognising in the act only the "one touch of nature" that "makes
the whole world kin," gave the adventurous lady a round of hearty
cheering.
It was many years after her accession that the Queen revisited the
town, but the Prince Consort came frequently. His first visit was in
1843. Her Majesty and himself were the guests of Sir Robert Peel
at Drayton Manor, and the Prince took the opportunity to come to
Birmingham, to inspect some of the manufactories. There is reason to
believe that the impressions he received that day were lasting, and
that he ever afterwards took a very warm interest in the town and its
various industries. Mr. Thomas Weston was Mayor at the time. He was
a prosperous and very worthy man, possessing a large fund of common
sense, but knowing little of courtly manners. Of course, as Chief
Magistrate, he accompanied the Prince through the town, and joined him
at the luncheon provided at the Grammar School, by the Rev. J.P. Lee,
the Head Master. After luncheon, the Prince, his Equerry, and the
Lord-Lieutenant, took their seats in the carriage, but the Mayor was
missing. Anxious looks were exchanged, and as minute after minute
went by, the attendants became impatient. The Prince stood up in the
carriage, and put on an overcoat. Still the Mayor didn't come. At
length it oozed out that he had lost his hat. A dozen hats were
offered at once on loan; but the Mayor's head was a large one, and it
was long before a hat sufficiently capacious could be found. It came
at last, however, and the Mayor, in a borrowed hat, came rushing
out, much disconcerted, and full, evidently, of apologies, which the
Prince, with much good nature, laughingly accepted.
The next time he came to Birmingham was in 1849. At this time the area
from Broad Street to Cambridge Street in one direction, and in the
other from King Edward's to King Alfred's Place, now covered with
buildings, was enclosed on all sides by a brick wall some ten feet
high. Inside this wall there was a belt of trees all round, and a
few "ancestral elms" were dotted here and there within the enclosure.
About a hundred yards from the Broad Street wall stood a square house
of red brick, built in the style of architecture current in the days
of Queen Anne. It was known as Bingley House. Not far from the spot
where the house now occupied by Mr. Mann, the surgeon, stands, was a
carriage gate, leading to the dwelling. The grounds were laid out in
park-like fashion, and so late as 1847 were abundantly tenanted by
wild rabbits. The house had been occupied for a generation or two
by the Lloyd family, but about 1846 or 1847 they removed, and it
was understood that the ground was shortly to be devoted to building
purposes.
In 1848, an exhibition of Birmingham manufactures was projected: the
idea, I believe, originating with the late Mr. Aitken. It was received
with considerable favour, and a strong committee being formed, a plan
was soon matured for carrying it into effect. Negotiations resulted in
the tenancy, for the purpose, of Bingley House and grounds. Very soon
a substantial timber building was seen rising within the wall, near
the corner of King Alfred's Place. In a few weeks it was covered in; a
broad corridor connected it with the old mansion; and early in 1849
an exhibition, most interesting in its details, and artistic in its
arrangement, was opened. The larger articles were displayed in the
temporary building; flat exhibits covered the walls of the corridor;
and smaller matters were arranged, with great judgment, in the
old-fashioned rooms of the house itself.
The exhibition opened with great _eclat_. The buildings were thronged
from morning till night with gratified crowds. Special reporters from
the daily newspapers came down from London, and sent long and special
reports for publication. The veteran magazine, now called _The
Art Journal_, but then known as _The Art Union_, gave interesting
accounts, with engravings of many of the articles on view, and the
whole matter was a great and signal success.
One morning the secretary received an intimation that Prince Albert
was coming on the following day. Preparations on a suitable scale were
at once commenced for his reception, and the principal exhibitors were
invited to be in attendance. At the time appointed, the Prince, who
had made a special journey from London for the purpose, was met by the
officials at the entrance, and conducted systematically through the
place. He made a most minute and careful examination of the whole
of the contents, took copious memoranda, and chatted familiarly with
everybody. One remark I heard him make struck me as significant of the
practical, observant character of his mind. Cocoa-fibre matting was
then comparatively unknown; the stone steps of the old hall had been
carpeted with this new material; observing this, as he walked up the
steps, the Prince turned to Mr. Aitken and said, "Capital invention
this; the only material I know of that wears better in a damp place
than when dry."
As he left the place on his return to London, he expressed, in cordial
terms, his thanks for the attention shown him, and said he had "been
very much pleased; quite delighted, in fact," and so ended a visit
which eventually led to the Great Exhibition of 1851, the Royal
Commission for the establishment of which was gazetted January 3,
1850.
The Prince came again, to lay the foundation stone of the Midland
Institute buildings. On that occasion he accepted an invitation to a
public luncheon in the Town Hall, and it was here that he delivered
the celebrated speech which placed him at once in the foremost rank of
philosophic thinkers. He was much pleased at his cordial reception on
this occasion, and it is known that it had much to do in overcoming
the avowed reluctance of the Queen to visit Birmingham, and was mainly
instrumental in inducing her to consent to open Aston Hall and Park.
The 15th of June, 1858, was eagerly looked forward to, for on that day
the Queen was coming. Taking a lesson from continental practice, it
was wisely resolved that individual attempts at decoration should be
discouraged, and that the inhabitants of each street should combine
for effective artistic arrangements. For the first time, I believe,
in England, Venetian masts were a principal feature, where possible.
Poles by hundreds, and flags by thousands, were sought in all
directions. The Town Hall was placed in the hands of skilful
decorators. The interior was, as yet, a mystery; but the pediment
fronting Paradise street was fitted with an enormous canvas-covered
frame, upon which was emblazoned, in gorgeous, but proper heraldic
style, the Royal Arms of England. All along the line of route through
the town, and on the road to Aston, rose hundreds of galleries for
spectators. Every one was busy in preparation, and nothing was omitted
to make the scene as gay as possible.
The morning of the day was fine and intensely hot. Each street had its
own style of ornamentation, but the number of separate short lengths
of the route, gave sufficient variety to avoid monotony. Bull Street,
as seen from the bottom, seemed like a fairy scene from a theatre; all
looked gay and pleasant to the artistic eye. The Town Hall had been
transformed into a gorgeous Throne Room, and was crowded with the
_elite_ of the neighbourhood. The Queen, as usual, was punctual, and
took her seat under a regal canopy. A short reception was held. The
Mayor knelt, and rose up a Knight. The mover and seconder of the
address from the Corporation kissed hands. Poor Alderman Horatio
Cutler, in his confusion at finding himself in so august a presence,
forgot the customary bending of the knee. In vain Lords in Waiting
touched the back of his leg with their wands to remind him. He had
lost his presence of mind, and retired in utter confusion, amid a
general but suppressed titter.
Then came the journey to the Park, through the long line of decorated
streets; the short ceremony at the Hall, and the luncheon. Then the
appearance in the gallery upon the roof of the glass pavilion, where
the Queen and Prince received, and acknowledged gracefully, the
plaudits of the spectators; and finally came the announcement by Sir
Francis Scott, that he had received "Her Majesty's gracious commands
to declare, in her name, that the Park was now open."
At the door of departure, her Majesty, in thanking the Mayor for the
arrangements made for her comfort and convenience, was pleased to say
that she had never before been greeted with such enthusiastic loyalty,
and that the decorations had exceeded in beauty anything of the kind
she had ever seen.
I have never seen the Queen since. Her photographs, however, show me
that, although she has twenty-seven grand-children, and has been Queen
of England for more than forty years, she is still a comely matron,
with every appearance of health and vigour. Long may she remain so!
Long may she continue to be, as now, the kindly, sympathetic, motherly
head of a contented, loyal, and united people.
BIRMINGHAM BANKS: OLD AND NEW.
At the close of the French war in 1814, the Bank of England commenced
preparations for the return to specie payments. Immediate "tightness"
in the money market was the result. Prices fell. Trade became dull.
Credit was injured. The return of peace seemed, to the unthinking,
a curse rather than a blessing. Alarming riots were frequent, and
general distress and discontent existed. The Government, in some
alarm, resolved to postpone the resumption of cash payments until
1819.
In the meantime, the subject of the proper regulation of the currency
underwent a good deal of discussion, and in the year 1819 the Act
known as "Peel's Bill" was passed. It provided that after 1821 the
bank should be compelled to pay its notes in bullion at the rate of
L3 17s. 10-1/2d. per ounce, and that after 1823 holders of notes might
demand at the bank current coin of the realm in Exchange. The same
Act abolished the legal tender of silver for any sum beyond forty
shillings.
This made matters worse. Banks became more stringent. Prices of all
commodities fell. Numbers of people were thrown out of work. Poor's
rates increased in amount and frequency, and general discontent
prevailed. Corn and agricultural produce no longer fetched war prices.
Landlords insisted upon retaining war rents, which farmers were unable
to pay. To meet this difficulty, Parliament passed the Corn Laws,
hoping thereby to keep up prices. These new laws produced the contrary
effect. Wheat fell from 12s. to 5s. the bushel. Rents could not be
collected. Mortgages upon land could not be redeemed, and land became
practically unsaleable.
Things at length attained such a condition, that Government became
seriously alarmed, and brought into Parliament five distinct money
bills in one night. These bills were hurried through both Houses as
fast as the forms of Parliament would allow. All of them had for their
object the relaxation of the stringency of the money laws; and one Act
permitted the issue of one pound notes for ten years longer, _i.e._,
to 1833.
Trade immediately revived. Labour became abundant, and everyone,
high or low, in the country, felt immediate relief and benefit.
Unfortunately, with the return to prosperity came the usual unwise
rebound in public feeling. Everything became _couleur de rose_. The
wildest joint stock enterprises were projected. Capital, obtained on
easy terms of credit, was forced into every branch of commerce. Trade
was pushed beyond legitimate requirements. Imports of cotton, wine,
and silk increased so far beyond their usual amount, that the rates
of exchange turned against this country. The Bank of England, in
self-defence, "put on the screw." Money invested in distant countries,
in speculative operations, was now badly wanted at home. Suspicion
arose, and confidence was shaken. Merchants, in default of their
usual help from bankers, suspended payment. Bankers themselves, having
depended upon the return of their former advances, were in great
peril. Alarm having become general, there was a simultaneous run for
gold throughout the country, with the result that in a very short time
seventy-nine banks stopped payment, of which no fewer than fifty-nine
became bankrupt. The whole kingdom was in a frightful state of
consternation. Failure followed failure in rapid succession. The
whole circulation of the country was deranged, and at the beginning of
December, 1825, the Bank of England stock of cash amounted only to a
very few thousand pounds.
Ministers were called together in haste, and Cabinet Councils were
daily held. It was decided to issue two millions sterling of Exchequer
bills, upon which the bank was authorised to issue an equal amount of
notes. The bank was also "recommended" to make advances of a further
sum of three millions, upon the security of produce and general
merchandise.
At this moment a fortunate discovery was made which did more to allay
the excitement than the measures just mentioned. The bank had ceased
to issue one pound notes six years before, and it was thought that
they had all been destroyed. Accidentally, and most opportunely,
when things were at the worst, one of the _employes_ of the Bank, in
searching a store-room, found a case of the L1 unissued notes, which
had escaped observation at the time of the destruction. They were at
once issued to the public, by whom they were hailed with delight, as
the first "bit of blue" in the monetary sky. Under these re-assuring
circumstances the panic soon subsided, but it left its blighting
legacy of misery, ruin, diminished credit, and general embarrassment.
The banking laws were soon after altered. The Bank of England was
induced to forego its exclusive monopoly of having more than six
proprietors, and the formation of joint stock banks consequently
became possible. A new era in banking commenced, which, modified from
time to time, has existed down to the present time.
It will be seen that the close of the war, in 1814, was the
commencement of the great and violent monetary changes I have
attempted to describe. There were then six banks in Birmingham. Two of
these are altogether extinct; the other four have merged into existing
banks. For convenience sake, I will sketch the extinct banks first,
and afterwards show the processes by which the others have been
incorporated with existing institutions.
At the period mentioned, the firm of Smith, Gray, Cooper, and Co.
had the largest banking business in the town. They carried on their
operations in the premises in Union Street now occupied by the
Corporation as offices for their gas department. This bank did a large
business with merchants and wholesale traders, and it "was a very
useful bank." After several changes, the firm became Gibbins, Smith,
and Goode. In the great panic of 1825, one of their customers, a
merchant named Wallace, failed, owing them L70,000. This, with other
severe losses, brought them down. They failed for a very large amount.
Such, however, had been their actual stability, that, after all
their losses, and after payment of the costs of their bankruptcy, the
creditors received a dividend of nineteen shillings and eightpence in
the pound. Mr. Smith, of this firm, was a man of great shrewdness and
probity, and was greatly esteemed by his friends. The late Mr. Thomas
Upfill had, in his dining-room, an excellent life-size portrait of Mr.
Smith, taken, probably, about the year 1820. This portrait is now
in the possession of a lady at Harborne. The face is a shrewd and
observant one, and it always struck me as having a remarkable likeness
to the great James Watt, the engineer. Of Mr. Gibbins and Mr. Goode we
shall hear more as we go on, but "Smith's Bank" became extinct.
The firm of Galton, Galton, and James had their offices in the tall
building in Steelhouse Lane, opposite the Children's Hospital. They
weathered the storm of 1825, but, some years later on, Mr. James
accepted the post of manager of the Birmingham Banking Company,
whereupon the remaining partners retired into private life, and the
bank was closed.
Messrs. Freer, Rotton, Lloyds, and Co. had offices in New Street, now
pulled down. They had a large number of customers, principally among
the retail traders and the smaller manufacturers. The firm underwent
several changes, being altered to Rotton, Onion, and Co., then Rotton
and Scholefield, and finally to Rotton and Son. The banking office,
in the meantime, had been removed to the corner of Steelhouse Lane, in
Bull Street. Upon the death of the elder Mr. Rotton, the business
was transferred to the National Provincial Bank of England, Mr. Henry
Rotton becoming manager. This gentleman, whose death only recently
occurred, held this position for many years, and was universally
respected. His mental organisation was, however, too refined and
feminine to battle with the rough energy of modern trading. The bank,
under his management, was tolerably successful, but it remained a
small and somewhat insignificant concern in comparison with others.
An arrangement, satisfactory on all sides, was at length entered into,
under which he resigned his appointment. His successor is Mr. J.L.
Porter, a man of different stamp. Under his sturdy and vigorous
management the business has rapidly increased. The premises were soon
found too small. They were, shortly after he came, pulled down, and
the present magnificent banking house in Bennetts Hill was built upon
the site of its somewhat ugly and badly-contrived predecessor.
The firm of Coates, Woolley, and Gordon occupied, in 1815, the
premises in Cherry Street now held by the Worcester City and County
Bank. The business was, at a date I cannot learn, transferred to
Moilliet, Smith, and Pearson, and this was subsequently changed to
J.L. Moilliet and Sons, who carried the business on for many years,
finally transferring it to Lloyds and Company Limited. This company
removed it to their splendid branch establishment in Ann Street. Mr.
Moilliet, the senior partner in the Cherry Street Bank, was a Swiss by
birth, and lived in Newhall Street. In a warehouse at the back of his
residence, he carried on the business of a continental merchant. The
mercantile firm became afterwards Moilliet and Gem, who removed it to
extensive premises in Charlotte Street. Here, under the firm of E. Gem
and Co., it is still carried on.
Taylor and Lloyd's Bank was established in 1765, at the corner of
Bank Passage in Dale End. Mr. Taylor had been a very successful
manufacturer of japanned goods, and made a very large number of
snuff-boxes, then in universal use. He produced, among others, a style
which was very popular, and the demand for which became enormous.
They were of various colours and shapes, their peculiarity consisting
entirely in the ornamentation of the surface. Each had a bright
coloured ground, upon which was a very extraordinary wavy style of
ornament of a different shade of colour, showing streaks and curves of
the two colours alternately, in such an infinity of patterns, that it
was said that no two were ever found alike. Other makers tried in vain
to imitate them; "how it was done" became an important question. The
mystery increased, when it became known that Mr. Taylor ornamented
them all with his own hands, in a room to which no one else was
admitted. The fortunate discoverer of the secret soon accumulated a
large fortune, and he used to chuckle, years after, as he told that
the process consisted in smearing the second coat of colour, while
still wet, with the fleshy part of his thumb, which happened to have
a peculiarly open or coarse "grain." It will be seen at once that in
this way he could produce an infinite variety. Mr. Lloyd, the other
partner, belonged to a very old Welsh family, which, as landed
proprietors, had been settled for generations near Llansantfraid, in
Merionethshire. There are some very ancient monuments of the ancestors
of this family in the parish church there.
Somewhere about twenty-five years ago, the business was removed to
the present premises in High Street, and a few years later on, the
death--at Brighton--by his own hand, of Mr. Taylor, left the business
entirely vested in the Lloyd family. About ten or twelve years ago it
was decided to convert it into a limited liability company, and a very
searching examination was made by public accountants, as a preliminary
step. Just as the thing was ripe, the stoppage of the Birmingham
Banking Company was announced. This deferred the project for a time,
but the Messrs. Lloyd, with great judgment, published the accountants'
report. As soon as the excitement had abated, the prospectus was
issued. The shares were eagerly subscribed for, and the company was
formed. Moilliet's bank was included in the operation, and the
bank, under the able presidency of Mr. Sampson Lloyd, commenced the
energetic course of action which has resulted in its becoming the
largest banking concern in the Midland Counties.
I cannot at the moment ascertain the date of the formation of the firm
of Attwood, Spooner, and Co., but in 1815 the partners appear to have
been the three brothers--Thomas, Matthias, and George Attwood, and
Mr. Richard Spooner. Matthias Attwood seceded, and went to London. Of
Thomas, it is unnecessary to say one word to Birmingham people; his
statue in our principal street shows that he was considered to be no
common man. He was one of the first Members for Birmingham upon its
incorporation, and was re-elected in 1837. Although he had been so
great and successful as a popular political leader, he made no "way"
in Parliament; and soon after the riots of 1839 he retired, being
succeeded by Mr. George Frederick Muntz. The last time I saw Mr.
Attwood was in 1849, at the exhibition in Bingley House. He was then
a thin, wasted, and decrepit old man. It was about this time that he
retired from the bank.
George Attwood--his brother--was a man of different type. He was not
a politician. He was, in his best days, energetic, prompt, and
far-seeing. As he advanced in years he became fond of the pleasures
of the table, and the quality of his port wine became proverbial. His
intellect became dimmed, but his spirit of enterprise was active
as ever. He speculated in mines and other property to a very large
extent, and had not, as of old, the clear head to manage them
properly. There is little reason to doubt that here lies the secret of
the failure of the bank some years later.