How J. Backhouse & Co Balanced The Cash 70 Years Ago. © Beamish Museum

An album of watercolours depicting a nineteenth century credit crunch similar to that being experienced today has been acquired by Beamish Museum.

The series by Darlington artist Samuel Tuke Richardson depicts a renowned run on Backhouses Bank in 1819.

To perpare for a run on the bank's resources, similar to that experienced by Northern Rock earlier this year, Mr Jonathan Backhouse set off post-haste by coach and horses for London, where he obtained all the gold he needed, (some £32,000 - a huge amount by nineteenth century standards).

On the way back one of the fore wheels came adrift so he piled all the gold up in the opposite corner. Thus balanced he drove into Darlington on three wheels to the cheers of the residents and saved the bank.

How They Balance The Cash Now. © Beamish Museum

Rosemary Allan, Senior Keeper at Beamish Museum, said: “We are delighted to have the collection here, and we’re very interested in publishing them together with information on the family plus extra interpretations.”

The artist was related to the famous Backhouse family, whose bank at Darlington was founded in 1774 and later merged with Gurney’s Bank of Norwich and Barclays of London - now known as Barclays Bank.

“The family had a tremendous influence on the railways and mining and made a huge impact at a crucial time during the industrial revolution," added Rosemary.

The album of watercolours has been presented to County Durham’s Beamish Museum by the Friends of Beamish.