That's right, a great way to say "Carry on lads, you're doing a great job."
They could take it as a sign that you don't deserve a vote, as in the golden era dreamed of by Rees-Mogg. By the time of the 1831 general election, out of 406 elected members, 152 were chosen by fewer than 100 voters each, and 88 by fewer than fifty voters.
The Reform Act 1832 was brought in to give voting rights to more people on a more representative basis - Manchester didn't even have its own MP before then and was part of the Lancashire constituency represented by 2 members known as Knights of the Shire.
The Peterloo Massacre happened in response to people demanding reform in 1819.