John Baring, 2nd Baron Revelstoke
Encyclopedia
John Baring, 2nd Baron Revelstoke PC
(7 September 1863 – 19 April 1929), 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.
. He was not implicated in that affair, so was allowed to continue as partner and played an increasingly important role in the affairs of the reorganized firm. By the outbreak of the First World War, Barings’ prestige had been fully restored under his leadership. During the War, Revelstoke was closely concerned with raising finance for the Imperial Russian government.
from 1898 until his death; Receiver General
of the Duchy of Cornwall
; Minister Plenipotentiary as British financial representative at the Allied Conference in Petrograd in 1917; and a British representative to the Committee of Experts on German Reparations in 1929.
in London from 1904 until his death in 1929, and owned a country house in Leicestershire
. He never married, although in 1906 he proposed to Nancy Langhorne (later Nancy Astor). Upon his death, his title passed to his younger brother Cecil
, who was also a partner in the family banking firm for many years.
Privy Council of the United Kingdom
Her Majesty's Most Honourable Privy Council, usually known simply as the Privy Council, is a formal body of advisers to the Sovereign in the United Kingdom...
(7 September 1863 – 19 April 1929), was senior partner of Barings Bank
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...
from the 1890s until his death. John was the eldest surviving son of Edward Baring, 1st Baron Revelstoke
Edward Baring, 1st Baron Revelstoke
Edward Charles Baring, 1st Baron Revelstoke , was a British banker.-Biography:A member of the famous Baring banking family, "Ned" Baring was the second son of Henry Baring from his second marriage, to Cecilia Anne . Sir Francis Baring, 1st Baronet, was his grandfather and Evelyn Baring, 1st Earl of...
, and a great-grandson of the firm’s founder, Sir Francis Baring.
Career at Barings
At the age of twenty, John left Cambridge to join the family firm. After a few years learning the basics in the counting house, he was sent on an extensive tour of North and South America to learn first-hand about Barings' international interests and meet the people he would later be dealing with. He became a partner in January 1890, less than a year before Barings nearly collapsed in the Panic of 1890Panic 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 not implicated in that affair, so was allowed to continue as partner and played an increasingly important role in the affairs of the reorganized firm. By the outbreak of the First World War, Barings’ prestige had been fully restored under his leadership. During the War, Revelstoke was closely concerned with raising finance for the Imperial Russian government.
Outside Appointments
Revelstoke held numerous appointments outside the firm. He was a director of the Bank of EnglandBank 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...
from 1898 until his death; Receiver General
Receiver General
A Receiver General is an officer responsible for accepting payments on behalf of a government, and for making payments to a government on behalf of other parties. Receiver General is an alternative title for a Treasurer.-See also:...
of the Duchy of Cornwall
Duchy of Cornwall
The Duchy of Cornwall is one of two royal duchies in England, the other being the Duchy of Lancaster. The eldest son of the reigning British monarch inherits the duchy and title of Duke of Cornwall at the time of his birth, or of his parent's succession to the throne. If the monarch has no son, the...
; Minister Plenipotentiary as British financial representative at the Allied Conference in Petrograd in 1917; and a British representative to the Committee of Experts on German Reparations in 1929.
Personal life
Revelstoke lived at 3 Carlton House TerraceCarlton House Terrace
Carlton House Terrace refers to a street in the St. James's district of the City of Westminster in London, England, and in particular to two terraces of white stucco-faced houses on the south side of the street overlooking St. James's Park. These terraces were built in 1827–32 to overall designs by...
in London from 1904 until his death in 1929, and owned a country house in Leicestershire
Leicestershire
Leicestershire is a landlocked county in the English Midlands. It takes its name from the heavily populated City of Leicester, traditionally its administrative centre, although the City of Leicester unitary authority is today administered separately from the rest of Leicestershire...
. He never married, although in 1906 he proposed to Nancy Langhorne (later Nancy Astor). Upon his death, his title passed to his younger brother Cecil
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...
, who was also a partner in the family banking firm for many years.
Sources and external links
- P. Ziegler, The Sixth Great Power: The House of Barings, 1762–1929 (1988)
- The Baring Archive http://www.baringarchive.org.uk/barings_people/biographies/john_baring_2nd_lord_revelstoke