Smeaton produced his report in September 1766, in which he recommended that the flash locks should be replaced by pound locks with two sets of gates, and that a number of new cuts should be built, including what became known as the Hackney Cut from Lea Bridge to Old Ford. The commissioners advertised in the London Gazette and other newspapers that they wanted to borrow £35,000 to finance the improvements, to which there was a huge response. Some £161,500 was offered, and subscribers had to be picked by a ballot. Work on the whole scheme progressed quickly, and the contract for the Hackney Cut was awarded to Jeremiah Ilsley on 18 January 1768. He was probably acting as a public works contractor, since he also had contracts for the Waltham Cut and part of the Limehouse Cut, and so must have been managing a large labour force. He was to be paid 3 old pence (3d, 1.25p) per yard for the Hackney Cut, considerably less than the rate for the Limehouse Cut, which was 7d, and was given four months in which to complete the excavations.
