Matthew Towgood III
Matthew Towgood III | |
|---|---|
| Born | 1727 Moreton Hampstead, Devon, England |
| Died | 1791-01-26 |
| Occupation(s) | Presbyterian minister, banker |
| Known for | Founding the banking firm Langston, Polhill, Towgood and Amory; founding New College, Hackney |
Matthew Towgood III (1727 – 26 January 1791) was an English Presbyterian minister turned banker. Originating from a distinguished nonconformist lineage, he actively opposed religious limitations and played a key role in founding the banking firm Langston, Polhill, Towgood and Amory, as well as the dissenting educational institution New College, Hackney.
Life
Born in 1727, Matthew Towgood was baptised on 6 July in Moreton Hampstead, Devon. He was the son of Michaijah Towgood, a prominent leader within Rational Dissent, and descended from a family of dissenting clergy.
Towgood began his career as a Presbyterian minister in Bridgwater in 1747 but left the ministry in 1755 to pursue commerce. By 1764, he relocated to London where he worked as an insurance broker. His transition into banking occurred in 1773, and by approximately 1777 he co-founded Langston, Polhill, Towgood and Amory at 29 Clement's Lane near Lombard Street, London. His partners included James Haughton Langston and Nathaniel Polhill. This banking enterprise operated under various related titles until its amalgamation with the Rogers family bank in 1811. Among the partners, Samuel Amory was the grandfather of Sir John Heathcoat-Amory, 1st Baronet.
Within London's nonconformist community and political circles, Towgood supported activists such as John Wilkes and endorsed the 1775 petition advocating for American interests. He took part in the 1785 assembly of nonconformists that established New College, Hackney, serving on its committee alongside influential reformers like Richard Price and Samuel Heywood. Additionally, Towgood fulfilled duties as one of the initial treasurers of the college.
In 1786, he attended a notable dinner hosted by abolitionist William Smith honoring American envoy John Adams. His sons and other members of the Repeal Committee were also present. Both Towgood and his sons held membership in the Worshipful Company of Fishmongers.
Matthew Towgood passed away on 26 January 1791. His funeral sermon was delivered by Richard Price on 6 February that year.
Family
On 23 June 1752, Towgood married Mary Mills at the Church of St John the Baptist, Bristol. She was sister to banker John Mills (deceased 1769). A diary entry by John Baker lists their children as "John William, Matthew, Elizabeth and Mary," while other sources specify five offspring: "John, Wm, Mathew, Eliz. and Mary."
All three sons pursued careers in banking:
- John (1757–1837), who wed Martha, daughter of Thomas Rogers. He was financially involved with a plantation on St Kitts through a mortgage arrangement.
- William practiced banking in Bristol with Savery, Towgood et al., passing away in 1835. This institution maintained connections with Smith & Payne before evolving into Rogers, Towgood & Co. He married Susannah Yerbury.
- Matthew (died 1830), recognized for his contributions to papermaking.
Among his daughters, Mary became the second wife of Bristol banker John Savery in 1779 and bore sixteen children, including Henry Savery.