Glasgow Chamber of Commerce marks 240th anniversary

According to records, Tobacco Lords were said to stroll around the Tontine Piazza "resplendent in their scarlet cloaks and gold-tipped canes. Citizens of lesser standing moved out of their way."

Glasgow like other UK cities was in the midst of a commercial crisis when the meeting was called.

Transatlantic trade between Great Britain and the American colonies, as well as between the colonies and Europe, was the driving force behind the British Empire's astonishing economic growth from 1727.

The conclusion of the American War of Independence, that year, led to the collapse of trading links with North America.

"The merchants and the manufacturers in Glasgow were concerned that they had lost their market and were gathering together, to try and collectively find alternatives," says Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce.

"In particular, it was about what do we need to do to find alternatives. How do we get back into the markets we lost, particularly the east coast of North America.

"It was a bit of an 18th-century self-help group really."

Patrick Colquhoun (1745-1820) a prominent member of Glaswegian society who served as the city's lord provost from 1782-84 was the founder of the Glasgow Chamber of Commerce and Manufactures.

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He served as its first chairman, promoting new commercial opportunities for the city and The Chamber received its royal charter on July 31 1783.

Records show the all-male membership included; Hugh Moodie, a barber and perfumer, James Monteith a major cotton manufacturer and "twist dealer" and John Craig, from Paisley, who is listed as a Victualler - a person who supplies food, beverages and other provisions for the crew of a vessel at sea.

Glasgow Chamber of Commerce will mark its 240th anniversary this year, sharing the milestone with The Herald, making it the oldest English-speaking Chamber in the world with continuous records.

"The Parisians were in before us," said Mr Patrick. "New York will claim that they are older than us but they went bust."

There were around 200 members in the early stages of the Chamber, mostly involved in the textile industry, tobacco and sugar trade and at this time including those in neighbouring towns including Greenock and Paisley.

"They would sit and discuss which particular letters needed to be fired off to support particular policies," said Mr Patrick.

"There were quite a lot of letters sent in opposition to various tariffs and customs duties that got in their way."

Records show Britain's involvement in the transatlantic slave trade prompted fierce debate within the UK's first Chamber of Commerce.

READ MORE: The Herald at 240: From America's founding, still going strong 

"There was a centenary publication put out in 1883," says Mr Patrick "and it is patently obvious that this was a highly controversial issue for Chamber members from the very beginning.

"It was something they debated quite strongly. 

"There was real antagonism about it, a bit like Brexit or Scottish Independence.

"But they came to a conclusion that there should be no view taken by the Chamber.

"It's one of those moments where I say, it feels very familiar," he says.

"We have to reflect the views of the members and the members don't come to a conclusion neither do we."

A bust in Merchant House honours Kirkman Finlay, who became one of Scotland's leading cotton manufacturers and merchants.

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The cotton business was eventually closed and, after an unsuccessful period of diversification, Finlay concentrated on its core interests of tea and other agricultural produce.

He campaigned actively against the monopoly of the East India Company, an English company formed for the exploitation of trade with East and Southeast Asia and India.

The company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, saltpetre, tea, and opium.

"Quite often they were innovators at their time, they were quite prepared to take on some of the issues without fear or favour."

He says Finlay was "particularly adept" at getting around the Continental System, a large-scale embargo against British trade by Napoleon Bonaparte against the British Empire which lasted from November 21 1806 until April 111814, during the Napoleonic Wars.

Members would also have negotiated the Corn Laws, tariffs and other trade restrictions on imported food and corn which were enforced in the United Kingdom between 1815 and 1846.

They enhanced the profits and political power associated with land ownership.

The first two years of the Great Famine in Ireland of 1845–1852 forced a resolution because of the urgent need for new food supplies.

The Prime Minister, Sir Robert Peel, a Conservative, achieved repeal in 1846 with the support of the Whigs in Parliament, overcoming the opposition of most of his own party.

Economic historians see the repeal of the Corn Laws as a decisive shift toward free trade in Britain. 

The repeal benefitted the bottom 90% of income earners in the United Kingdom economically while causing income losses for the top 10% of income earners.

Glasgow Chamber of Commerce will mark its 240th anniversary later in the year as part of the University of Glasgow's tercentenary celebrations for 'Father of Economics' Adam Smith.

"We can't prove yet that he was a member," says Mr Patrick, "But he would have plying his professional trade across the way in High Street, which was round the corner from the chamber.

"We rather hope he was because clearly his own philosophy and writings definitely influenced the way the chamber thought.

"[The chamber] was formed broadly in line with the principles that had just been set out in the Wealth of Nations.

"It was a free market, international trade orientated organisation."
Today's Chamber has around 1100 members spread across the city and retains its independence.

As well as supporting established city businesses through the turbulence of Covid and the cost-of-living crisis, it is helping grow emerging industries which Mr Patrick believes will play a central role in the city's economic future including space technologies, precision medicine, engineering, renewables.

"If I go by the taxi drivers questions, one of the biggest misconception is that we are part of the council," said Mr Patrick.

"The Chamber of Commerce is an independent body and has been, all the way through.

"We are solely about championing Glasgow and the growth of its business community.

"We do a lot of practical work, helping firms access markets."

"Glasgow also has a whole new range of sectors developing and our job is to encourage that."