Elias Mocatta
Elias Mocatta | |
|---|---|
| Born | 1798-02-16 London, England |
| Died | 1881 |
| Occupation(s) | Trader, financier |
| Years active | c. 1821–1868 |
| Known for | Role in early credit systems of Venezuela and South American nations; co-founder of London and Venezuela Bank |
Elias Mocatta (1798–1881) was a prominent British trader and financier who played a significant role in shaping the early credit systems of Venezuela and several other South American nations.
Early life
Born on 16 February 1798, Mocatta hailed from a Bristol family background, though records indicate his birth took place in London. He was part of a Sephardic lineage and was the eldest sibling to Isaac Lindo Mocatta—who later joined his ventures in Venezuela during the 1840s—and David Alfred Mocatta. Their father was Moses Mocatta (1768–1857).
In Venezuela
Mocatta’s involvement in Venezuela spanned roughly fifteen years, from approximately 1821 until 1836, during which he maintained enduring financial connections. Establishing his base in Caracas by 1825, he acted as a representative for British expatriates in greeting Simón Bolívar upon his arrival in 1827.
Political and financial background
This period coincided with the disintegration of Gran Colombia into the separate states of Colombia (initially known as the Republic of New Granada), Ecuador, and Venezuela. In the 1850s, Mocatta took on the responsibility of managing Gran Colombia’s external debt as it was apportioned among these successor republics, representing creditor interests. Meanwhile, London’s Foreign Funds market emerged around 1823 but suffered a collapse by 1825. Moses Mocatta was involved as part of the "Spanish bondholders," advocating in 1827 for regulatory oversight by the London Stock Exchange over foreign bond transactions. By 1835, Foreign Funds trading had been fully integrated into the Stock Exchange framework.
Commerce
Although British expatriates in Caracas and La Guaira were relatively few, they wielded considerable commercial power. Among them, Elias Mocatta’s associate John Boulton (1805–1875) stood out as an influential entrepreneur in early Venezuelan commerce and granted Mocatta power of attorney in 1827. The trading firm Powles, Ward, Lord & Co., based in La Guaira, was instrumental commercially, with George Ward and Henry Joseph Lord acting on behalf of London partners including John Diston Powles.
Mocatta represented Mocatta & Co., a Liverpool-based firm, overseeing trade operations such as managing letters of credit and fostering close business relations with Boulton and the Powles houses in La Guaira. Active in Caracas from 1825 onward, he initially dealt in ship sales and functioned as Caracas agent for Powles, Ward, Hurry & Co. during 1826–1830. Around 1830, E. Mocatta & Co. was founded in La Guaira. Additionally, his brother Samuel conducted business activities related to Venezuela throughout the 1820s.
Social life
The Mocatta family enjoyed strong social ties with Robert Ker Porter while in Caracas and were familiar with his sister Jane Porter, a novelist known for works such as Thaddeus of Warsaw and The Scottish Chiefs.
Later life
The commercial partnership involving Elias, Isaac Lindo, and Samuel Mocatta ended in 1843; they had operated as commission agents based in Liverpool and traded under the name Mocatta Brothers in La Guaira. By 1844, Elias held the position of Ecuadorian consul in Liverpool. Nevertheless, by October 1847, Messrs. Mocatta & Son had ceased business operations with outstanding debts amounting to £50,000.
Continuing his engagement in global finance, Mocatta participated on various bondholders’ committees concerning Spanish (1851), Ecuadorian (1853), and Greek bonds (1863). Circa 1850, he invested as a shareholder in the Marmato Company founded by John Diston Powles. In 1852, he acted on behalf of an Ecuadorian bondholder committee to negotiate a two-decade moratorium on debt payments secured against unoccupied land.
During Venezuela’s Federal War in 1862, Mocatta worked alongside Hilarión Nadal to arrange a loan from Barings Bank to support the Venezuelan government and was appointed Barings’ special agent to oversee post-conflict administrative transitions. He also collaborated closely with the House of Boulton on a subsequent loan issued in 1864.
In that same year, Mocatta co-established the London and Venezuela Bank with partners including Henry Alers Hankey, Frederick Hemming, Alfred Powles, Giacomo Servadio, Robert Syers, and David Wilson. He withdrew from active management of the bank four years later in 1868.
According to the 1881 census records, he resided at North Meols, Lancashire—the year marking his passing.
Family
He wed Julia De Leon, the daughter of J De Leon from St Thomas in the West Indies. Their offspring comprised: *Maurice Mocatta, born in 1821 on St Thomas during the period when his father conducted trade between the island and La Guaira. Maurice was sent to Liverpool in 1827 and received his education in Brighton as well as at the Liverpool Royal Institution, eventually pursuing a career as a stockbroker. *William Abraham Mocatta (1830–1876), the seventh son and an Anglican clergyman, born in Caracas. *Louisa, their second daughter, who entered into marriage with Frederic Charles Danvers in 1860 at Hove.