Thomas Raikes
Thomas Raikes the Elder | |
|---|---|
| Born | Template:Birth date Gloucester, England |
| Died | December 29, 1813 (aged 72) Stanwell House, Middlesex, England |
| Occupation(s) | Merchant, banker, newspaper owner |
| Known for | Governor of the Bank of England (1797–1799) |
Thomas Raikes, known as "the Elder" (born 28 March 1741 – died 29 December 1813), was a British merchant engaged in commerce between London and Russia, as well as a banker and owner of a newspaper. During the 1797 financial turmoil, he held the position of Governor of the Bank of England, overseeing the Bank when the British Government restricted gold payments.
Biography
Born in Gloucester in 1741, Raikes was the third son of Mary Drew and Robert Raikes the Elder. His siblings included Robert Raikes, recognized for founding Sunday schools, and William Raikes, who served as a director at the South Sea Company.
From 1797 to 1799, as Governor of the Bank of England, he steered the institution through a crisis triggered by diminished gold reserves during the French Revolutionary Wars. In response to this shortage, the Government forbade gold withdrawals, enforcing exclusive reliance on banknotes.
Raikes maintained influential connections with Prime Minister William Pitt the Younger and abolitionist leader William Wilberforce.
He passed away at Stanwell House in Middlesex on 29 December 1813.
Family
On 8 December 1774, at St George's, Bloomsbury, London, Raikes married Charlotte, who was the illegitimate daughter of Hon. Henry Finch and granddaughter of Daniel Finch, 2nd Earl of Nottingham. Together they had nine children: four sons and five daughters. Their eldest son, Thomas, gained prominence as a London diarist; another son, Henry, became Chancellor of the Diocese of Chester. Their daughter Georgiana was wed to Lord William FitzRoy, son of the 3rd Duke of Grafton.