George Warde Norman
George Warde Norman | |
|---|---|
| Born | 1793-09-20 Bromley Common, Kent, England |
| Died | 1882-09-04 Bromley Common, Kent, England |
| Occupation(s) | Financier, Bank director |
| Years active | 1821–1876 |
| Known for | Director of the Bank of England, contributions to financial literature |
George Warde Norman (1793–1882) was an English financier and director at the Bank of England, recognized for his contributions to financial literature.
Early life
Norman was born on 20 September 1793 at Bromley Common, Kent, to George Norman, a merchant involved in the Norway timber trade, and Charlotte Beadon. He attended Eton College between 1805 and 1810 before entering his father’s timber business. From 1819 until 1821, he spent time in Norway as part of this trade. Following his father’s retirement in 1824, Norman remained active in the timber industry until 1830, when he transferred operations to Sewell & Co., partnering with his brother Richard Norman.
Financial interests
Serving as a director of the Bank of England from 1821 through 1872, Norman was instrumental in launching the bank’s branch network in 1826. Around 1840, he became a member of the bank’s treasury committee. During the commercial crisis of 1847, he collaborated closely with Chancellor Sir Charles Wood at Downing Street. He also provided expert evidence regarding currency before parliamentary committees in the years 1832, 1840, and 1848.
Norman was appointed as an exchequer bill commissioner in 1831 and was reappointed in 1842 when responsibilities were transferred to the public works loan commissioners; he served in this capacity until 1876. Additionally, he held a directorship at the Sun Insurance Office from 1830 to 1864.
Other interests
As a long-term governor of Guy's Hospital, Norman was also the last surviving founding member of the Political Economy Club, established in 1821. A proponent of liberalism and free trade, he declined opportunities to stand for Parliament in both the City of London and West Kent constituencies. He was involved in matters concerning Poor Law administration.
An enthusiastic amateur cricketer between 1827 and 1838, Norman participated in nine first-class matches representing Kent and Gentlemen of Kent teams. He co-established Prince's Plain Club on Bromley Common, which later evolved into the West Kent Cricket Club. He presided over this club from 1832 until his passing and authored its historical account. Cricket was a family passion: his brother Henry Norman, sons Frederick and Philip Norman, and grandson Maurice Bonham-Carter all played for Kent at various levels.
Personal
Shortly after finishing at Eton, Norman developed a close friendship with historian George Grote. In 1814, he introduced Grote to Harriet Lewin, who subsequently became Grote’s spouse; it was upon Norman’s recommendation that Grote pursued writing a history of Greece rather than Rome. Both shared an enthusiasm for advancing cricket in West Kent.
Death
Norman passed away at Bromley Common, Kent, on 4 September 1882, just shy of his eighty-ninth birthday.
Works
In 1833, Norman privately released Remarks upon some prevalent Errors with respect to Currency and Banking, and Suggestions to the Legislature as to the Renewal of the Bank Charter, a significant pamphlet later critiqued by figures such as Samuel Jones Loyd, John Horsley Palmer, and Robert Torrens. This work was republished with amendments in 1838. His principal publication An Examination of some prevailing Opinions as to the Pressure of Taxation in this and other Countries (1850; fourth edition 1864) disputed the notion that increasing public spending necessarily reflected heavier taxation burdens. Other important writings include:
- Letter to Charles Wood, esq., M.P., on Money, and the Means of economising the Use of it, 1841
- Remarks on the Incidence of Import Duties, with special reference to the England and Cuba Case contained in "The Budget", 1860
- Papers on various subjects, 1869
- The Future of the United States, delivered before the British Association in 1874; published in the Journal of the Statistical Society, 1875
- A Memoir of the Rev. F. Beadon, 1879
He also contributed articles to The Economist.
Family
Norman wed Sibella (1808–1887), the daughter of Henry Stone, who served in the Bengal civil service and was a partner in the banking enterprise Stone & Martin. Among their children were sons Frederick Norman and Philip Norman. Their eldest daughter, Sibella Charlotte, became the wife of barrister Henry Bonham Carter.
Notes
- Attribution