With funds running low, a decision was taken to borrow the additional £50,000 which the enabling Act allowed and so a request was made to the Exchequer Bill Loan Commission for this amount.
Despite high hopes, the venture was not a success, as operating costs exceeded revenue, and the loan from the Exchequer Bill Loan Commission could not be repaid.
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Costs overran, and to complete the Haddiscoe cut, the additional £50,000 authorised by the Act was raised by taking a loan from the Exchequer Bill Loan Commissioners.
The initial capital of £100,000 was inadequate and a further £50,000 was borrowed from the Exchequer Bill Loan Commission.
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A chance meeting between Charles Munro, the chairman of the Regents Canal prior to 1816 and the long-named Committee of the Society for relieving the Manufacturing Poor led to discussions of government loans, and the Exchequer Bill Loan Commission was created under the provisions of the Poor Employment Act 1817, with powers to lend money to public schemes which would create employment for those without work.