Earlier quoted context omitted.
It's moderately dense literature, as muddy and gloomy as the portrayal of london, but I would expect the majority of people to be able to read this?
I suspect a majority of the population has no idea what "Michaelmas term" is. And there's some other phrases in there that require some familiarity with things commonplace in the 19th century that aren't so in the 21st century.
In my defence, I'm not a native speaker