Paul Benfield

Paul Benfield
Born	1742
Died	1810
Occupation(s)	Employee of the East India Company, merchant, financier, politician
Years active	1764–1810
Known for	Monetary ventures in India, political career in England

Paul Benfield (1742–1810) was an English employee of the East India Company, merchant, financier, and political figure, recognized for his monetary ventures in India and his eventual financial ruin.

Life

Beginning his career with the East India Company in 1764 as a civil servant earning a modest income, Benfield accumulated wealth surpassing £500,000. While stationed in Madras, he collaborated with indigenous Indian bankers and profited through commerce, high-interest lending, and government contracts, notably involving fortifications in Madras and Fort St. George. He engaged extensively in financial dealings with the Nawab of the Carnatic.

The Carnatic affair

A major loan from Benfield facilitated the Nawab—backed by English support—in seizing the Maratha domain of Tanjore and resolving Dutch territorial disputes at Tranquebar concerning Tanjore lands. Benfield faced accusations of backing factions opposed to George Pigot, 1st Baron Pigot within the Madras council, resulting in his recall to England in 1777. Upon his arrival in London in 1779, he requested a formal inquiry into his actions.

Benfield openly admitted to lending funds to the Nawab, maintaining that these transactions were transparent to Company officials and had averted conflict while promoting Company interests. He was reinstated and permitted to return to Madras after the court of directors determined his loans had been advantageous.

In England

In 1780, Benfield secured election to Parliament representing Cricklade, reportedly incurring substantial expenses. He initiated a bribery lawsuit against his rival S. Petrie, who was ultimately acquitted with legal defense led by prominent individuals including William Pitt the Younger. Assertions that Benfield controlled several parliamentary seats are considered unsubstantiated.

After permanently relocating back to England via France in 1793, Benfield co-established the London trading firm Boyd, Benfield, & Co. alongside financier Walter Boyd. He returned to Parliament as member for Malmesbury in 1790 and subsequently obtained the seat at Shaftesbury. However, Boyd’s speculative financial activities collapsed, precipitating Benfield’s swift economic downfall. He passed away impoverished in Paris in 1810.

Family

In 1793, Benfield married Mary Frances Swinburne from Hamsterley, Durham, the eldest daughter of Henry Swinburne. Their marriage settlement was notably generous. They had one son and at least two daughters; their eldest daughter Henrietta Sophia wed Robert Berkeley of Spetchley, while their younger daughter Caroline Martha married Grantley Berkeley in 1824. These unions linked their descendants with distinguished aristocratic families such as the Feildings (earls of Denbigh & Desmond) and other landed gentry.

External links

• Historyofparliamentonline.org, Benfield, Paul (1741–1810), of Woodhall Park, Watton Woodhall, Herts.

Attribution