great a prosperity in Wigan as in Bolton, Rochdale, Oldham, and other Lancashire towns. Never for the past ten years had the cotton and iron industries been so prosperous; yet in one single day—nay, in a few brief hours—the blow had fallen, and trade had become paralysed.
Spy mania was rife everywhere. In Oldham an innocent German, agent of a well-known firm in Chemnitz, while walking along Manchester Street about one o'clock, was detected as a foreigner and compelled to seek protection inside a shop. From Chadderton to Lees, from Royton to Hollinwood, the crisis was on everyone's lips. Here again was the crucial question: Would the mills close?
Meanwhile, across at Liverpool, the wildest scenes were also taking place on 'Change. News over the wires from London became hourly more alarming, and this, combined with the rumour that German warships were cruising off the Mersey estuary, created a perfect panic in the city. The port was already closed, for the mouth of the river had been blocked by mines; yet the report quickly got abroad that the Germans would send in merchant ships to explode them and enter the Mersey after thus clearing away the deadly obstacles.
Liverpool knew too well the ridiculously weak state of her defences, which had so long been a reproach to the authorities, and if the German ships that had done such damage at Penarth, Cardiff, and Barry were now cruising north, as reported, it seemed quite within the bounds of probability that a demonstration would really be made before Liverpool.
Outside and within the great Exchange the excitement was at fever heat. The Bank Charter was suspended, and the banks had closed with one accord. Upon the "flags" the cotton-brokers were shouting excitedly, and many a ruined man knew that that would be his last appearance there. Every moment over the telephones came news from Manchester, each record more disastrous than the last. Hot, perspiring men
