Francis Child (died 1713)

Sir Francis Child
Born	1642 England
Died	1713-10-04
Occupation(s)	Banker, politician
Known for	Founder of Child & Co., Lord Mayor of London (1698–1699)

Sir Francis Child (1642–1713), associated with Hollybush House in Fulham, Middlesex, and the Marygold near Temple Bar, London, was a notable English banker and politician. He held seats in both the English House of Commons and the British House of Commons from 1698 until 1713. Serving as Lord Mayor of London between 1698 and 1699, he transformed a goldsmith enterprise begun in 1671 into one of London's earliest banking institutions, known as Child & Co.

Early life

Born in 1642 to Robert Child, a cloth merchant from Heddington, Wiltshire, Francis relocated to London at a young age. In March 1656, he commenced an eight-year apprenticeship under goldsmith William Hall. He achieved membership of the Goldsmiths' Company on 24 March 1664 and was granted freedom of the City of London shortly after, on 7 April 1664.

Goldsmiths and Child's Bank

The origins of Child & Co. trace back to the Wheeler family, established London goldsmiths. John Wheeler operated in Chepe until 1575; his descendants later moved their business to Fleet Street and subsequently to the Marygold near Temple Bar. In 1671, Child's marriage to Elizabeth Wheeler connected him to this enterprise. Around that time, following her stepfather Robert Blanchard’s takeover of the Marygold shop, Child became his business partner. The 1677 London Directory lists 'Blanchard and Child at the Marygold' among goldsmiths managing cash accounts.

Upon Blanchard's death in 1681, Child inherited significant wealth from both Blanchard and the Wheelers, leading to the creation of Francis Child and John Rogers that same year. As an early innovator in banking, Child shifted emphasis away from traditional goldsmithing towards financial services, earning the title 'father of the profession.' Prior to 1690, company records combined goldsmithing, pawnbroking, and banking activities. The Marygold emblem continues to appear as a watermark on present-day cheques and is preserved above the original shop entrance.

In 1787, Messrs. Child & Co. acquired the neighboring Devil tavern for £2,800 and replaced it with Child's Place in 1788. This tavern had historical significance as the meeting place of Ben Jonson's club; artifacts like the club’s rules board and an Apollo bust remain part of the firm's heritage. Noteworthy clients over time included Oliver Cromwell, Nell Gwyn, Titus Oates, Archbishop Tenison, and Barbara Villiers, Duchess of Cleveland.

For many years, Child & Co. rented chambers above Temple Bar at an annual cost of £21 until its removal in 1878; these rooms housed extensive company ledgers. Traditionally, the firm has offered its premises for official city ceremonies involving royal visits at Temple Bar.

Politics

On 6 January 1681, Child was elected to represent St. Dunstan's precinct on the court of common council, narrowly defeating Mr. Taylor of the Devil tavern. The London Gazette dated 3 December 1683 reported that payments for Prince Rupert’s jewel lottery—valued at £20,000—were collected by Child at Temple Bar under royal supervision during ticket counting at Whitehall. Additionally, in February 1682 he was appointed by the Bishop of London to manage fundraising for restoring St. Albans Abbey.

In October 1689, Child became alderman for Farringdon Without and was knighted by William III at Guildhall that same month. A prominent Whig figure within city governance, he joined the Honourable Artillery Company in February 1690. That year's municipal elections were politically charged; Child led the Whig slate for sheriff and narrowly secured first place in votes. By March 1694 he was appointed one of six colonels overseeing the city trained bands.

Though unsuccessful in contesting Devizes during the 1695 general election, he secured an unopposed return there in 1698. On 29 September that year he was elected Lord Mayor of London for the upcoming term. His inauguration featured an elaborate pageant sponsored by the Goldsmiths' Company and organized by Elkanah Settle; it was noted for its exceptional grandeur and attendance by foreign diplomats. The procession included receptions hosted by the Earl of Dorset and concluded at Guildhall with lords justices and military escorts present. Reportedly incurring personal expenses amounting to £4,000 during his mayoralty—whose financial gains largely derived from selling vacant city offices—he implemented regulation over corn prices by appointing officials to monitor and publish daily rates at Queenhithe to safeguard consumers. He resigned as jeweller to the king in 1697, succeeded by Sir Stephen Evans.

Child’s substantial fortune enabled him to provide significant loans to government; notably in August 1692 he joined others advancing £50,000 toward Irish administration support.

The December 1700 City of London parliamentary election was fiercely contested. By then aligned with the Tory faction, Child lost his seat in London during the first general election of 1701 but retained his position representing Devizes. He was re-elected there later that year and again in 1702 but opted to serve as London's MP after winning both constituencies concurrently. In 1702 he also held office as master of the Goldsmiths' Company.

In 1705 he refrained from standing for London but returned as member for Devizes. At the 1708 election he did not seek re-election at Devizes and was defeated in London, losing his parliamentary seat. In 1710 he contested Devizes amid a double return situation and was finally seated on 16 December. Records suggest his involvement with Wiltshire land tax receipts around 1711.

Later life and death

During his tenure as president, Child generously funded the reconstruction of the ward above the east cloister at Christ's Hospital in 1705, covering all costs personally. A 1699 portrait showing him adorned in the ceremonial robes of the lord mayor is exhibited at Osterley Park, with an additional likeness displayed within the hospital’s main hall.

For many years, Child made his home at East End House in Fulham, a residence he erected on Parson's Green. Around 1711, he purchased Osterley Park, the family estate; however, it was his son, Sir Robert Child, who is said to have been the first family member to inhabit the property. Child passed away on 4 October 1713 and was interred in Fulham churchyard, where a monument honors his memory.

Family

Lady Child survived her husband, dying in 1720 and also buried at Fulham. Francis Child fathered twelve sons and three daughters. His sons, Robert and Francis, followed him as heads of the family banking enterprise and held the position of alderman for Farringdon; both were subsequently knighted.

His daughter Elizabeth married Tyringham Backwell, the son of Alderman Edward Backwell, a distinguished goldsmith who suffered financial collapse following the 1672 Exchequer closure. Two offspring from this union, Barnaby and William, later became partners within Child’s banking firm.