driffield navigation guide

With the new works completed, the Navigation was at last in a position to meet the demands that the traffic placed upon it. Trade increased and the dividends on the New Navigation were paid in full. By 1808 the basic loan was being repaid. The problems of the debts of the Old Navigation still remained. Under the 1801 Act the revenue from the New Navigation could not be directed into the Old Navigation accounts. Thus the profit on the "New" contrasted with the long outstanding debts of the "Old Navigation". Friction rapidly generated amongst the share holders and, on the 7th July 1816, the Commissioners received a petition from the proprietors of the Old Navigation stating that their Tolls were insufficient to meet the interest due. They requested that suitable measures be taken to resolve their financial problems. As the result of these pressures, the Third Driffield Navigation Act was promoted. The Act received Royal Assent on 7th July 1817, and was entitled:

'An Act to amend and enlarge the powers of Two Acts of his present Majesty, or improving the Navigation of the River Hull and Frodingham Beck .............'

This Act recognised the original intention of the Navigation as being solely an "Amenity" for the people of Driffield. It detailed the debts of the Old and New Navigations and directed that, as soon as the Principal plus Interest due to the mortgagees was repaid, the tolls should be reduced so that no greater income was derived from the Navigation than was required to keep it in repair and meet other incidental expenditure. The Act also included a provision for the regulation of water levels at Frodingham Bridge, to safeguard the drainage of adjacent lands. To enable this to be done a mark was cut in the stonework of the Steeple of Frodingham Church.

This Consolidation Act provided the financial salvation of the proprietors of the Old Navigation. By 1825 the backlog of interest owed to investors had been cut by half. J. H. La Manche proposed a 'Sinking Fund’ in 1825 to clear the remaining debts. The proposal was accepted in 1834 and by 1844 all interest appears to have been cleared. As the traffic developed the Public Landings at Corps Landing (1825) and Frodingham Bridge (1826) were opened. Priestley, in 1831, recorded that the Navigation was cheifly used for the import of coal from the West Riding, and timber, deals and groceries from Hull; and for the export of wool, corn, and other farming produce from the East Riding. Driffield grew and the Merchants prospered.