| Title: | William Montgomery, Manchester to Joseph [Searight?] Philadelphia |
|---|---|
| ID | 1842 |
| Collection | Irish Emigration Database |
| File | Montgomery, William/62 |
| Year | 1857 |
| Sender | Montgomery, William |
| Sender Gender | male |
| Sender Occupation | linen merchant |
| Sender Religion | Protestant |
| Origin | Manchester, England |
| Destination | Philadelphia, Penn., USA |
| Recipient | Searight, Joseph |
| Recipient Gender | male |
| Relationship | cousins |
| Source | D2794/1/2106: Presented by H.H. Montgomery, 4 Kensington Gardens, Belfast 5. |
| Archive | The Public Record Office, N. Ireland. |
| Doc. No. | 305016 |
| Date | 19/12/1857 |
| Partial Date | |
| Doc. Type | LET |
| Log | Document added by LT, 07:05:03. |
| Word Count | 778 |
| Genre | |
| Note | |
| Transcript | MANCHESTER DECEMBER 19TH 1857 My dear Joseph, Some time since I received a Newspaper from you in which I was very much gratified to see a statement of the affairs of L.J. Levy & Co and hope that as Commercial Matters on your side of the Atlantic are improving their prospects may also improve. I do not remember much of the money panic of 1847 as when it was at its height [I am----which -----k.?] I do remember the panic in the Corn trade that year which had about subsided before you and I started for the United States. The panic of this year differs from that inasmuch as it altogether commanded in the States and has opened from [that?] [N East?] I hope we have now seen the worst of it although it has left a miserable wreck behind There [can?] be no doubt but [a system?] of accommodation. [This?] has obtained in this country which it [was?] light [---?] should cease and of this [--?] the daily [receiving?] privy by the [various?] disclosure at the several Bankrupt examinations. I send you a paper in which you will find a fair sample. The only failure of any magnitude which in [have has?] in this city in that of [Thornton Huggins?] [---][---] of which I am sure you have heard as they were largely engaged in the American trade. London Liverpool and Glasgow have suffered [much?] [already?] in the way of failures than any other places. The [resources?] of the Bank of England are daily [augmenting?] at not a [inpi--?] rate that it is generally expected we will be treated to a reduction in the Bank rate of Discount on Christmas Eve and that with the New Year we will have a revival of business - No person here unconnected with America could foresee what was coming and [consequently?] the men engaged in Business having no connection or correspondance [correspondence?] and most of those who had with your side of the Atlantic were entirely unprepared for such a crash - In addition to this it took place at a season of the year when most people had made arrangements and engagements for the winter trade - The Bank rate of Discount stood at 5 ½ % on the 7th Oct. and on the 9th Nov. it was raised to 10 % - Buying ceased almost at once and as ever Material declined in price there has been a consequent depreciation in the value of stocks so that if the Yankees want goods and can afford to pay for them they are likely to get them cheap - And now having given you some outline of the panic here it is time to ask you about yourself What you are about and how you managed during the crisis. I hope both you and the children are well - I [arrived?] here in May last with my family and had it not been for the panic I would have been very well satisfied With my first year - as it is I must only hope for better times - I had done very well up to October - I am thankful so far I have not made any bad debts but hold [ensher?] a heavy stock of Linen Yarns Could you do anything with a small consignment of linen shipments? If you can let me know and [I will?] endeavour to send you a small lot or if there is anything in which I could assist you I would be glad to do it. Let me know your views about Business with you and what you think the prospects are for sale of Linen and Cotton goods. Is there any manufacture in which we might do something for our material advantage? I think the American shipping [lines?] here will try and [respect?] credit on goods sold to your Importers within the nearest possible limits say 4 months - I was in [Portadown?] about 3 weeks since and saw Robt. & Anne Jane. Robt. had been poorly for some time past with cold caught at a [air?] in a [Turf?] [---?] of the P----?] He is now engaged in the grain trade and I am afraid not likely to make much money in the speculation. Wednesday. I intended sending this by the "Atlantic" but neglected to post it in time - Money matters here continue daily to improve and we expect the first reduction of discount will be to 8% - Hoping to hear from you soon Miss Bamber is Yours affectionately quite well - she William Montgomery will I think spend Xmas with us - Transcribed by Jim Buchanan |
