Kitabı oku: «Here and There in London», sayfa 7
THE COMMERCIAL ROAD
AND THE COAL-WHIPPERS
The Commercial Road, abutting on the Docks and Whitechapel, is the residence of the London coal whippers – a race of men singularly unfortunate – the complete slaves of the publicans of that quarter, and deserving universal sympathy. I have been down in their wretched homes; I have seen father, mother, children all sleeping, eating, living in one small apartment, ill-ventilated, inconvenient, and unhealthy; and I believe no class of labourers in this great metropolis, where so many thousands are ill-paid and hard-worked, and are reduced almost to the condition of brutes, suffer more than the coal-whippers you meet in that busy street of traffic and toil – the Commercial Road.
The coal-whippers are men employed to whip the coals out of the colliers into the barges, which latter bring them up for the supply of the inhabitants of London. Theirs is a precarious and laborious life, and therefore they have special claims upon the consideration of the public. Mr. Deering tells us “it may possibly serve to bespeak interest in the subject if it be known that it is one which affects for weal or for woe no fewer than 10,000 persons, there being nearly 2,000 coal-whippers, together with their wives and families.” From the opening of the coal-whippers’ office in 1843 to the close of 1850, the quantity of coals delivered through it was 16,864,613¼ tons, and the amount of wages paid to the men during that time was £589,180 11s. 5¾d. At times these men have to wait long without employment, sometimes a ship only breaks bulk, and a small quantity of coal is taken out, sometimes the whole cargo is worked right out. Thus the men’s remuneration varies. In some cases a coal-whipper earns but 8s. 9d. a week, and in none more than 16s. Let us now speak of the work. As we have already intimated, that is very hard. It is carried on by gangs of nine, four work in the hold of the ship and fill the basket, four work on the ways, and whip the coal – that is, raise the basket to the top – and one, the basket man, turns it into the meter’s box. The four on the whip have very hard work, and after twelve or fourteen tons have been raised go down into the hold, where they are choked with coal dust, but have not quite so difficult a task. Men who are employed in this labour describe it as most laborious and irksome. Nor from their description can we well conceive it to be otherwise.
Under the old system these men got all their work through the public-house. That was a fearful system. We have heard coal-whippers speak of it as “slavery, tyranny, and degradation;” and well they might. “The only coves who got the work,” as one man told us, “were the Lushingtons.” If a man did not spend his money at the public-house he got no employment; and actually we heard in one case of a landlady who turned off a gang in the middle of their work because they would not spend so much money in her public-house as she thought desirable. One publican who had several of these gangs under his thumb, by various exactions, we were positively assured, made as much as £35 per week by them. The publicans, says Mr. Deering, the able and intelligent secretary to the commissioners, compelled every man to pay on an average to the amount of eight shillings, and in some instances ten shillings, per week for liquor on shore and on board, whether drunk by him or not. The plan was to compel the coal-whippers to visit their houses previous to obtaining employment, and on the night before obtaining a ship to commence the score, and at six o’clock in the morning, before going to work, to drink a pot of beer, or spirits to an equal amount of value; then to take on board for each gang nine pots of beer, to be repeated on delivering every forty-nine tons during the day; after which they were compelled to pay nine or ten shillings per man for each ship for gear. The evil effects of such a system it is unnecessary to point out. After a week’s hard work, a man had nothing to take home. The coal-whippers became a drunken and degraded class, the family were starved, the boys early learned to thieve, and the girls were too often thrown upon the streets. No wonder the men rebelled against this cruel tyranny. For long they bore it, but at length they plucked up courage, and demanded deliverance.
Generation after generation had struggled for their rights, and numerous Acts were passed to redress their grievances; but no sooner was an Act passed than ways and means were found to evade it. Then four brave men, Robert Newell, Henry Barthorpe, George Applegate, and Daniel Brown, created amongst their oppressed fellow-labourers an excitement which never subsided till the Corporation of London took their case in hand. Lieutenant Arnold, with a view to benefit them, established an office, but the publicans combined against him and drove him out of the field. The London Corporation appointed a committee to examine into the whole matter. Government was besieged, but Mr. Labouchere told the coal-whippers that they could not interfere, “as it would be too great an interference with the rights of labour.” The coal-whippers, however, were not to be daunted, and after years of unremitting toil, in which their claims had become increasingly appreciated, Mr. Gladstone prevailed upon the House of Commons to pass the Act which on the 22nd of August, 1843, received the royal assent. The Act simply provided that an office should be established where the coal-whippers should assemble, and that owners and captains of vessels discharging their cargoes by hired men and by the process of whipping should make to them the first offer to discharge their cargoes. It in no way interfered with or attempted to fix the price of the labour. This was left as a matter of contract between employers and employed. As there were conflicting interests to be consulted, the bill provided that the proposed office should be placed under the management of nine commissioners, four of whom should be appointed by the Board of Trade, and four by the Corporation of the City of London, the chairman to be the chairman for the time being of the Shipowners’ Society of London. To show how the Act has worked, we make the following extract from an appeal to the House of Commons by the Committee of the Registered Coal-whippers in the Port of London, published in May of the present year, and which bears the names of John Farrow, John Doyle, William Brown, Michael Barry, John Cronin. They say: – “The object contemplated by the Legislature in the establishment of the office was to secure to the men the full amount of their earnings immediately after their labour was completed, with the exception of one farthing in the shilling, which is required to be left in the office to defray necessary expenses. At first the office was fiercely opposed by interested parties, because it broke up a system of vile, degrading, and unjust extortion, by which these men derived their profits; but this opposition soon subsided, the price of labour became equalised by an understanding between the employers and the employed, the former being at liberty to offer any price they were willing to give, and the latter to accept or refuse as they thought proper; and the only compulsory clause in the Act, in favour of the coal-whippers, is that, an office being established at which they assemble for the purpose of being hired, the shipowners shall first make an offer to the coal-whippers registered at the office, and if refused by them at the price offered, a discharge is given, empowering the captains to obtain any other labourers elsewhere, at not a greater price than that offered to the registered men. The good effects resulting from the establishment of the office are – relief to the men from extortion and a demoralising system, ruinous alike to both body and soul – a fair turn of work in rotation – immediate payment of their wages in money – and an opportunity of disposing of their labour (if any is to be had elsewhere) in the interim of their clearing one ship and obtaining another. The advantage to the trade has been the regularity and certainty with which they obtain their coals from on board ship, instead of the injurious delay which occurred before the office was established, while the men (goaded by oppression) and the captains were contending about the price of the labour; and the advantage to the shipowner has been – the prevention of delay in the delivery of his cargoes – by always finding a sufficient number of men in attendance at the office, for the delivery of the ships – steadiness in the price of labour, and avoidance of detention through ‘strikes’ for higher wages, and on the whole, a lower price for labour than prevailed before the office was established. In some years, nearly £100,000 has passed through the office for wages earned, but of late that amount has been greatly reduced in consequence of the introduction of machinery in docks and other places; the decrease in importation coastwise; the employment of ‘bonâ fide’ servants by some gas companies, and by a few coal merchants; and by frequent evasions of the Act through the interference of persons who have nothing whatever to do with the payment of wages, and who derive pecuniary advantage to themselves by so doing. The retention of the word ‘purchaser’ in the Act gives them power to do this.”
In August, 1856, the Act which did so much good expired. Parliament refused to continue it on the express promise of parties connected with the coal trade, that a model office should be created, which should be conducted in such a manner that the publicans should not be able to renew the hideous evil of the old system. This contract with Parliament has been broken, and at this moment the coal-whippers are suffering from a return to the fearful slavery and tyranny of old times. Already one-third of the trade is again in the hands of the publicans. The first thing the model office did was immediately to throw 252 coal-whippers out of employment. Of course these men were necessitated to go to the publicans. Another complaint against the model office is, that in two cases the men were paid 2d. a ton, and in another case 3d. a ton, less than the price paid to the office. Another grievance is, instead of the persons connected with the coal trade going to the model office, the bonâ fide offices created by the Act, and by means of which it was abused, still exist, and we were informed one of the largest merchants has still his office with a gang of eighty-one men. Of course the publicans are delighted. They have the whole trade in their own hands again; but this must not be. The righteous feeling of the country must be interposed between the publican and his victims – a body of hard-working men are not to be forced into drunkenness and poverty and crime merely that a few publicans may increase their ill-gotten gains. Reason, morality, religion, all protest against such a damnable doctrine. Almost immediately after the Act had ceased, the Rev. Mr. Sangar, the rector of Shadwell, presided over a meeting of coal-whippers “because the coal-whipped office was established in his parish, and because the Coal-whippers’ Act had put down drunkenness, prevented the exactions of middlemen, induced morality, and benefited a large number of industrious men.” Meetings for a similar purpose are held almost every month. On similar grounds we have taken up the case of the coal-whippers – and for the same reasons we ask the aid of the charitable, and religious, and humane. Especially do we ask the temperance societies of the metropolis to interfere in this matter. Many of the coal-whippers are total abstainers. Now that Mr. Gladstone’s Act is obsolete, they have some of them been forced back into the public-house. We must save them ere they be lost for ever. The coal-whippers are in earnest in this matter. They want very little. Simply a renewal of Mr. Gladstone’s Act, with the proviso that there shall be only one office. It was the absence of that proviso that enabled interested parties to evade the provisions of the Act to a certain extent. Surely this is no great boon for Parliament to grant.
THE STOCK EXCHANGE
This country, said the late Mr. Rothschild, is, in general, the bank of the whole world. That distinguished capitalist never said a truer thing. If Russia wants a railway, or Turkey an army, if Ohio would borrow cash, or Timbuctoo build a railway, they all come to London. The English stockholder is the richest and softest animal under the sun – as repudiated foreign stocks and exploded joint-stock projects at home have too frequently illustrated. When the unfortunate stockholder has in this way invested his all, the result is at times very painful. The cause of this is not always to be traced to “greenness,” but to the desire to derive large dividends or interest, without due regard to the security of the investment. Not even is the bonâ fide investor always safe. He is the goose that lays the golden egg. In one respect this weakness is somewhat tragic. For instance, to give an extreme case: – Suppose A. B., twelve years back, had, as the result of a life of industry, saved £5,000, and invested it in the London and North Western Railway, when that famous stock was in demand, and quoted as high as £250, what must be the unhappy condition of that too-confiding A. B., supposing he has not already died of a broken heart, when he finds London and North Western stock quoted, as at this present time, under £100? Again, supposing C. D. had died, leaving his disconsolate widow and twelve children, innocent but helpless, a nice little property consisting of shares in the Western Bank of Scotland. What must be the state of that disconsolate widow and those twelve children, innocent but helpless, upon finding that not only have all the original shares completely vanished into ducks and drakes, but that upon each share a responsibility of somewhere about one hundred and fifty pounds has been incurred besides? Can we calculate the sum total of bitter misery thus created and scattered far and wide? As well might we attempt to realise the dark and dismal regions of the damned. The caution cannot be too often repeated, to avoid investments which entail unknown liabilities, or which are subject to great fluctuations of price or the amount of dividend. Abundant opportunity for safe investment is offered in the Debentures, Preference and Guaranteed Stocks of British Railways, which pay from 4 to 5 per cent. per annum. The aggregate value of the stocks and shares which are dealt in on the London Stock Exchange is somewhat bewildering in its enormous amount. First and foremost are the several stocks constituting the National Debt of Great Britain, which may be taken at between eight and nine hundred millions. The capitals of the various British railways amount to upwards of three hundred millions. The capitals of the Bank of England and of sundry joint-stock banks amount to more than thirty millions. Then there is a large amount invested in canals, gas and water, steam, telegraph, and dock companies. The total amount of American railways is about one hundred and sixty-eight millions sterling; European railways, two hundred millions; and those of India and our colonies, fifty millions. Moreover, there is a vast aggregate amount of foreign stocks and loans, which our readers will not care that we particularise.
The grand mart for the traffic in such things is a large building situate in Capel-court, just opposite the Bank of England. It has three other entrances – one in Shorter’s-court, Throgmorton-street, one in New-court, ditto, and one in Hercules-passage, Broad-street. You cannot get in, for a porter guards each door, and if you elude him you are easily detected by the habitués, and obliged to beat a precipitate retreat. But from the entrance in Hercules-passage, by peeping through the glass folding doors, you may manage to get an imperfect view of the interior. You will see that in the middle of the day there are a great number of well-dressed, sharp-looking gentlemen talking very energetically, and apparently doing a great deal of business. As they pass in and out you hear them discourse as familiarly of thousands as
“Maids of fourteen do of puppy dogs.”
Let me add that there are a variety of distinct markets – the English for stocks and exchequer bills, the foreign for stocks, and the railway and mining, and miscellaneous share department. I may also add that a news-room is attached, where the daily papers, especially the city articles, are very eagerly perused. I am told that the Daily News is the favourite, and that the demand for that paper is very great. The Stock Exchange does not recognise in its dealings any other parties than its own members. Every bargain, therefore, whether for account of the member effecting it, or for account of a principal, must be fulfilled according to the regulations and usages of the house. Its affairs are conducted by a committee of thirty, annually elected. “Every member of the Stock Exchange and every clerk to a member shall attend the committee for general purposes when required, and shall give the committee such information as may be in his possession relative to any matter then under investigation.” The committee have the right to expel any member guilty of dishonourable or disgraceful conduct, or who may violate any of the regulations, or fail to comply with any of the committee’s decisions.
As regards small people outside like ourselves, the functions of the Stock Exchange are soon fulfilled. I have worked hard – I have saved a few hundreds – I want to invest them – I call upon a stock-broker – they are (I mean nothing offensive by the comparison) as thick as thieves in this neighbourhood. I commission him to buy me a certain number of shares in such and such a company. My broker rushes into the Exchange, goes to the particular spot where the dealer in such shares is to be met with, and buys them for me, to be delivered on such a day. I pay him a commission for brokerage, and my business is done. Suppose I want to buy government stock. What is stock? says one, unhappily, in consequence of his own laziness and ill-luck, or of the laziness and ill-luck of his fathers before him, not a holder of such. Stock, O benighted individual, is a term applied to the various funds which constitute the National Debt, the interest on which is paid half-yearly. Few persons buy or sell stock except through a broker, and this is the original business of the stockbroker, and it was for this the Stock Exchange was erected in 1803. It is only since the peace that the present immense traffic has sprung up in miscellaneous and railway shares. Let me suppose I have a thousand pounds to invest in the Three per Cents., which are now quoted at about 96. I wait on a stockbroker; he goes over to the Exchange and purchases them for me, and then sees to their transfer in the Bank of England, receiving as his commission one eighth per cent., or 2s. 6d. in the £100 upon the amount of stock transferred. But I am of a speculative turn, and wish to make a fortune rapidly by means of the Stock Exchange. I again have recourse to a broker. As I assume that I am a mere gambler – a man of straw – I stand to lose or gain a large sum of money on a certain contingency. I draw a blank, and leave my broker in the lurch, who has to settle his accounts as best he can. If he cannot pay by half-past two on the day of settlement, which in shares is once a fortnight, and in consols monthly, he despatches a short communication to the committee of the Stock Exchange; an official then suddenly gives three loud knocks with a mallet, and announces the unpleasant fact that my broker is unable to meet his engagements. He is termed a lame duck, and cannot again figure on the Exchange till he pays a composition of 6s. 8d. in the pound. The readmission of defaulters is in three classes. The first class to be for cases of failure arising from the defection of principals, or from other unfortunate vicissitudes, where no bad faith or breach of the regulations of the house has been practised; where the operations have been in reasonable proportion to the defaulter’s means or resources; and where his general character has been irreproachable. The second class, for cases marked by indiscretion, and by the absence of reasonable caution only, or by conduct reprehensible in other respects. The third class for cases where the defaulter is ineligible under either of the former classes, but whom, nevertheless, the committee may not feel warranted in excluding from the Stock Exchange. The final decision of the committee on each defaulter’s application will be notified to the members in the usual way, and remain posted in the Stock Exchange for forty days. Stockbrokers rarely go into the Bankruptcy Court, as the house appoints assignees, and settles the affair in a much easier way. Lame ducks are not always ruined in purse. I knew one who waddled off the Stock Exchange, he having been a speculator on his own account, and thus evaded the payment of rather a heavy sum. I met him at Brighton this summer, living in one of the best houses in Kemp-town.
Stock-brokers are very facetious fellows, and amuse their leisure hours in many ways, such as tossing for halfcrowns in a hat, and practical jokes; occasionally a good deal of small wit passes current. I have heard of an almanac, circulated in MS., in which the various peculiarities of individual members of the Exchange were very cleverly hit off. A late Exchange wit has given birth to the following jeu d’esprit, which has attained a wide-spread popularity in the City: —
“When the market takes a rise,
Then the public comes and buys;
But when they want to realise,
Oh! it’s ‘Oop de doodum doo!’”
When the government broker appears to operate on behalf of the Commissioners, for the Reduction of the National Debt he mounts into a “box,” and is surrounded by a clamorous host, all eager to buy or sell.
The present number of members of the Stock Exchange approaches nearly 800, each paying a subscription of £10 per annum, besides finding securities for between £800 and £900 for three years. Our stockbroker generally spends his money freely. If he is a married man he has a nice villa at Norwood or Clapham, and affects a stylish appearance. Then there are the “jobbers,” who remain inside the stock market, waiting for the broker, and who are prepared, immediately he appears, to make a price at which they are either buyers or sellers – the jobber calculating upon making it right with the broker, who has undertaken an operation the reverse of his own. Occasionally the jobber runs considerable risk, since, after concluding a bargain, and while endeavouring to obtain a profit on it, the market may turn. Still he is a useful middle-man, and saves the broker a world of trouble.
But there is much business transacted which is less legitimate, and is known as time bargains, which are bargains to deliver stock on certain days at a certain price, the seller, of course, hoping that the price will fall, and the buyer, that it will rise when the period for completing the bargain has arrived. The speculative settlement is effected without making full payment for stock; the losing party simply pays the difference. One who speculates for a rise is a Bull (it is said the great Rothschild made a vast deal of money in this way), the speculator for a fall is a Bear. Continuation is the interest on money lent on the security of stock. A great deal of business is done in this way. A merchant, or a railway company, or a bank, have large sums of money to dispose of. Instead of locking it up they employ a broker, who lends it on certain securities, for a few days or a few weeks. Operations on the Stock Exchange answer in this way, but the small tradesman, or clerk, or professional man who ventures within the charmed circle of Capel-court for the purpose of speculation, generally learns bitterly to rue the day.
