An Index of Commercial Activity: The Membership of the Manchester Royal Exchange, 1809-1948

• Published in: Business history 1979-01, Vol.21 (1), p.97-106
• Main Author: Farnie, D. A.
• Format: Article
• Language: English
• Subjects: Commerce; Great Britain (see also Britain, England, UK)
• ISSN: 0007-6791; 1743-7938
• DOI: 10.1080/00076797900000005

A statistical series is presented relating to the history of Manchester & Lancashire, GB, & the cotton industry during an era of unprecedented expansion followed by one of equally unparalleled decline. The series is derived from a document in the Royal Exchange Archives in the Manchester Central Library & lists the membership over 139 years of the greatest emporium of commerce in the world as well as the central institution in the life of the world's first industrial city. Tables reveal the 4 main phases of expansion in membership from 1,543 in 1809 to 11,539 in 1920, & the 18 recessions in membership between 1811 & 1945 caused by war & the trade cycle. The rate of growth was correlated with 12 other series of statistics: the closest r existed in the long term with the growth of the population of Lancashire between 1811 & 1921 & in the medium term with the increase in the export of cotton manufactures between 1840 & 1873. A further study of the 20 chairmen of the Exchange made to ascertain their political affiliations showed no Liberals, only 2 Whigs, & 18 Tories. The conclusions are that the traditional association of Manchester with Liberalism requires reexamination, & that the most revealing sources for the history of Lancashire may well be those relating to such a core institution rather than the more abundant records of peripheral institutions such as the Manchester Chamber of Commerce. 4 Tables. Modified AA.