 In the end, the Common Council of the City of London petitioned the Parliament of Great Britain in March 1731, for relief against the "unreasonable and exorbitant rates" charged and the low prices achieved on sale of unredeemed goods.This was supported by a petition from merchants and other traders in London and by the silk weavers and worsted manufacturers of Spitalfields.They alleged that pledges were often sold at 20 percent below the production cost; this discouraged industry and encouraged fraudulent bankrupts.