1765
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Financial Strain
At the Manchester end, the difficulties regarding land ownership were resolved by the Canal Duke purchasing the Hulme Hall Estate for £9,000.
Spending this large amount of money, as well as other similar costs along the line of Canal, and the cost of constructing the navigation, wharves, warehouses, etc. was a great strain on the Duke’s finances and he had to borrow money to pay his workmen.
In 1765, he received a loan of £25,000 from Child’s Bank on the security of his Canal but this was only the beginning. By today’s values he was eventually at least £2million in debt. To save money, he reduced his personal spending as much as possible; closed Bridgwater House in London and reduced his number servants.
