ABSTRACT
In 1866, UK shipbuilding output slumped dramatically, as part of the sudden downturn in the British economy prompted by a crisis in genera! credit provision that followed the collapse of the Overend Gurney bank. In mid-1857, Scott Russell had leased the unoccupied part of David Napier's yard in an attempt to re-establish his shipbuilding business. In 1861, Mare took over the part of Napier's yard that Scott Russell had used in an attempt to re-establish his shipbuilding business. The business was carried on in Mare's name until the end of 1862 but, when the creation of limited liability companies became easier, Overend Gurney bought out Mare's interest in the business. Thames Ironworks had invested considerably in improved facilities and the works 'doubled in area and resource' in the three years to 1863. To some extent, labour supply issues on the Thames became a struggle that was as much symbolic as it was substantive.
