Edward Baring, 1st Baron Revelstoke
Encyclopedia
Edward Charles Baring, 1st Baron Revelstoke (13 April 1828 – 17 July 1897), was a British
banker.
from his second marriage, to Cecilia Anne (née Windham). Sir Francis Baring, 1st Baronet, was his grandfather and Evelyn Baring, 1st Earl of Cromer
, his younger brother. Educated at Rugby
, Baring in 1882 became senior partner of the family banking firm of Baring Brothers and Co
until forced to step down following the Panic of 1890
. He was also a Director of the Bank of England
(1879–1891), chairman of Lloyds (1887–1892) and a Lieutenant of the City of London
. In 1885 he was raised to the peerage as Baron Revelstoke
, of Membland
in the County of Devon.
The town of Revelstoke
in British Columbia
, Canada
was renamed in his honour, commemorating his role in securing the financing necessary for completion of the Canadian Pacific Railway
.
Lord Revelstoke married Louisa Emily Charlotte Bulteel, daughter of John Crocker Bulteel, in 1861. They had seven sons and three daughters. Their fifth was the man of letters Maurice Baring
. Lady Revelstoke died in 1892. Lord Revelstoke survived her by five years and died in July 1897, aged 69. He was succeeded in the barony by his second but eldest surviving son John
. Edward's younger brother Thomas
also became a partner in the bank.
He is Diana, Princess of Wales
' Great Great Grandfather.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
banker.
Biography
A member of the famous Baring banking family, "Ned" Baring was the second son of Henry BaringHenry Baring
Henry Baring , of Cromer Hall, Norfolk, was a British banker and politician. He was the third son of Sir Francis Baring, 1st Baronet, the founder of the family banking firm that grew into Barings Bank His grandfather John Baring emigrated from Germany and established the family in...
from his second marriage, to Cecilia Anne (née Windham). Sir Francis Baring, 1st Baronet, was his grandfather and Evelyn Baring, 1st Earl of Cromer
Evelyn Baring, 1st Earl of Cromer
Evelyn Baring, 1st Earl of Cromer, GCB, OM, GCMG, KCSI, CIE, PC, FRS , was a British statesman, diplomat and colonial administrator....
, his younger brother. Educated at Rugby
Rugby School
Rugby School is a co-educational day and boarding school located in the town of Rugby, Warwickshire, England. It is one of the oldest independent schools in Britain.-History:...
, Baring in 1882 became senior partner of the family banking firm of Baring Brothers and Co
Barings Bank
Barings Bank was the oldest merchant bank in London until its collapse in 1995 after one of the bank's employees, Nick Leeson, lost £827 million due to speculative investing, primarily in futures contracts, at the bank's Singapore office.-History:-1762–1890:Barings Bank was founded in 1762 as the...
until forced to step down following the Panic of 1890
Panic of 1890
The Panic of 1890 was an acute depression, although less serious than other panics of the era. It was precipitated by the near insolvency of Barings Bank in London. Barings, led by Edward Baring, 1st Baron Revelstoke, faced bankruptcy in November 1890 due mainly to excessive risk-taking on poor...
. He was also a Director of the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
(1879–1891), chairman of Lloyds (1887–1892) and a Lieutenant of the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
. In 1885 he was raised to the peerage as Baron Revelstoke
Baron Revelstoke
Baron Revelstoke, of Membland in the County of Devon, is a title in the Peerage of the United Kingdom. It was created in 1885 for the businessman Edward Baring, head of the family firm of Barings Bank...
, of Membland
Baring family properties
Baring family properties is a listing of significant properties in England that were purchased or developed by members of the Baring family, mostly during the period 1820-1890....
in the County of Devon.
The town of Revelstoke
Revelstoke, British Columbia
Revelstoke is a city in southeastern British Columbia, Canada. It is located east of Vancouver, and west of Calgary, Alberta. The city is situated on the banks of the Columbia River just south of the Revelstoke Dam and near its confluence with the Illecillewaet River...
in British Columbia
British Columbia
British Columbia is the westernmost of Canada's provinces and is known for its natural beauty, as reflected in its Latin motto, Splendor sine occasu . Its name was chosen by Queen Victoria in 1858...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
was renamed in his honour, commemorating his role in securing the financing necessary for completion of the Canadian Pacific Railway
Canadian Pacific Railway
The Canadian Pacific Railway , formerly also known as CP Rail between 1968 and 1996, is a historic Canadian Class I railway founded in 1881 and now operated by Canadian Pacific Railway Limited, which began operations as legal owner in a corporate restructuring in 2001...
.
Lord Revelstoke married Louisa Emily Charlotte Bulteel, daughter of John Crocker Bulteel, in 1861. They had seven sons and three daughters. Their fifth was the man of letters Maurice Baring
Maurice Baring
Maurice Baring was an English man of letters, known as a dramatist, poet, novelist, translator and essayist, and also as a travel writer and war correspondent...
. Lady Revelstoke died in 1892. Lord Revelstoke survived her by five years and died in July 1897, aged 69. He was succeeded in the barony by his second but eldest surviving son John
John Baring, 2nd Baron Revelstoke
John Baring, 2nd Baron Revelstoke PC , was senior partner of Barings Bank from the 1890s until his death. John was the eldest surviving son of Edward Baring, 1st Baron Revelstoke, and a great-grandson of the firm’s founder, Sir Francis Baring.-Career at Barings:At the age of twenty, John left...
. Edward's younger brother Thomas
Thomas "Tom" Baring (1839-1923)
Thomas Baring, known as "Tom", was the tenth child of Henry Baring of Cromer Hall, and younger full brother of Edward Baring, 1st Baron Revelstoke. Like his brother, Baring was involved in the family banking business, beginning his career in the Liverpool office of Barings Bank. He later moved to...
also became a partner in the bank.
He is Diana, Princess of Wales
Diana, Princess of Wales
Diana, Princess of Wales was the first wife of Charles, Prince of Wales, whom she married on 29 July 1981, and an international charity and fundraising figure, as well as a preeminent celebrity of the late 20th century...
' Great Great Grandfather.
Cultural references
- Appears as a minor character in the historical-mystery novel Stone's FallStone's Fall-Synopsis:An aging BBC reporter approaching retirement in 1953, Matthew Braddock is on a farewell tour, visiting the old Paris bureau. Chancing upon a familiar name in the obituary notices, he decides to attend the funeral of an acquaintance he has not seen for many years. After the service, he is...
, by Iain PearsIain PearsIain Pears is an English art historian, novelist and journalist. He was educated at Warwick School, Warwick, Wadham College and Wolfson College, Oxford. Before writing, he worked as a reporter for the BBC, Channel 4 and ZDF and correspondent for Reuters from 1982 to 1990 in Italy, France, UK and...
. - Appears in the Nightmare Song, from Gilbert & Sullivan's IolantheIolantheIolanthe; or, The Peer and the Peri is a comic opera with music by Arthur Sullivan and libretto by W. S. Gilbert. It is one of the Savoy operas and is the seventh collaboration of the fourteen between Gilbert and Sullivan....
, when the Lord Chancellor sings that "The shares are a penny and ever so many are taken by Rothschild and Baring"