425. The effects of the removal of a monopoly are often very
important, and they were perhaps never more remarkable than in
the bobbin net trade, in the years 1824 and 1825. These effects
were, however, considerably enhanced by the general rage for
speculation which was so prevalent during that singular period.
One of the patents of Mr Heathcote for a bobbin net machine had
just then expired, whilst another, for an improvement in a
particular part of such machines, called a turn again, had yet a
few years to run. Many licenses had been granted to use the
former patent, which were charged at the rate of about five
pounds per annum for each quarter of a yard in width, so that
what is termed a six-quarter frame (which makes bobbin net a yard
and a half wide) paid thirty pounds a year. The second patent was
ultimately abandoned in August, 1823, infringements of it having
taken place.
It was not surprising that, on the removal of the monopoly
arising from this patent, a multitude of persons became desirous
of embarking in a trade which had hitherto yielded a very large
profit. The bobbin net machine occupies little space; and is,
from that circumstance, well adapted for a domestic manufacture.
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