William Lidderdale

The Right Honourable
William Lidderdale
Born(1832-07-04)4 July 1832
Saint Petersburg
Died26 June 1902(1902-06-26) (aged 69)
London
NationalityBritish
Occupationgovernor of the Bank of England
Known forPanic of 1890
SpouseMary Martha Busk

William Lidderdale PC (4 July 1832 – 26 June 1902)[1] was a British merchant, and governor of the Bank of England between 1889 and 1892.[2]

Life

Lidderdale was born to British parents at the British Chaplaincy in Saint Petersburg, Russia, and was educated at Birkenhead in Cheshire.

After working for the Russian merchants Heath and Co, he joined the Liverpool merchant house of Rathbone Brothers, working in their New York City office from 1857 to 1863. He was made a partner in 1864, and went on to establish the firm's London office.

He became a Bank of England director in 1870, becoming Deputy Governor in 1887, and Governor in 1889.

Lidderdale's period in office is notable for his handling of the Barings crisis, cause of the 'Panic of 1890'. Barings became over-extended in underwriting Argentine debt, the value of which strongly declined following political unrest in Buenos Aires, and the recognition of the inefficient use of borrowed funds. Lidderdale organised a successful consortium to rescue the bank. In recognition, he was granted the Freedom of the City of London and was made a member of the British Privy Council.

Lidderdale lived at Ascot Place at North Ascot in Winkfield, Berkshire. He became a commissioner of the Patriotic Fund in 1893, and held (among other financial offices) the presidency of the council of the Corporation of Foreign Bondholders.[3]

He died on 26 June 1902 at 55 Montagu Square, London, W., and was buried at Winkfield, near Windsor.[3]

Family

He married in 1868, Mary Martha, elder daughter of Wadsworth Dawson Busk of Winkfield. Berkshire (formerly of St. Petersburg), by his wife Elizabeth Thielcke. They had eight children; four sons and three daughters survived him.[3]

Cultural references

References

  1. ^ Russia, Select Births and Baptisms, 1755-1917
  2. ^ Cassis, Youssef. City bankers, 1890–1914. Cambridge; New York: Cambridge University Press, 1994, p. 84, ISBN 978-0-521-44188-9.
  3. ^ a b c Welsh 1912.
Attribution

Wikisource This article incorporates text from a publication now in the public domain: Welsh, Charles (1912). "Lidderdale, William". In Lee, Sidney (ed.). Dictionary of National Biography (2nd supplement). London: Smith, Elder & Co.

Government offices
Preceded by Governor of the Bank of England
1889 - 1892 		Succeeded by