Samuel Jones-Loyd, 1st Baron Overstone
Encyclopedia
Samuel Jones-Loyd, 1st Baron Overstone (25 September 1796–17 November 1883) was a British banker and politician.
banker. He was educated at Eton
and Trinity College, Cambridge
.
2 million. In 1864 the bank became incorporated with the London and Westminster Bank.
from 1819 to 1826, and unsuccessfully contested Manchester
in 1832. As early as 1832 he was recognized as one of the foremost authorities on banking, and he enjoyed much influence with successive ministries and chancellors of the exchequer
. Loyd is considered as one of the great figures in British monetary history, particularly with respect to the Bank Charter Act of 1844. He was also opposed to limited liability
and the introduction of a decimal currency. In 1850 he was raised to the peerage as Baron Overstone, of Overstone and of Fotheringhay, both in the County of Northampton. Lord Overstone was a member of The Club (Literary Club) and the Political Economy Club
and served as High Sheriff of Warwickshire
in 1838 and as President of the Royal Statistical Society
from 1851 to 1853.
, Warwickshire
, which he purchased in 1815. Lady Overstone died in November 1864. Overstone remained a widower until his death in November 1883, aged 87. The barony died with him as he had no surviving male issue. The majority of his considerable fortune was passed on to his daughter, the Honourable Harriet Sarah Loyd. She was the wife of Robert Lindsay, who assumed the additional surname of Loyd and was created Baron Wantage in 1885. Overstone's nephew Lewis Vivian Loyd
inherited part of the estate, including the manor of Withybrook
, Wolvey, Warwickshire.
Background and education
Loyd was the only son of Reverend Lewis Loyd and Sarah, daughter of John Jones, a ManchesterManchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
banker. He was educated at Eton
Eton College
Eton College, often referred to simply as Eton, is a British independent school for boys aged 13 to 18. It was founded in 1440 by King Henry VI as "The King's College of Our Lady of Eton besides Wyndsor"....
and Trinity College, Cambridge
Trinity College, Cambridge
Trinity College is a constituent college of the University of Cambridge. Trinity has more members than any other college in Cambridge or Oxford, with around 700 undergraduates, 430 graduates, and over 170 Fellows...
.
Banking
Loyd's father had given up the ministry to take a partnership in his father-in-law's bank and became the founder of the London branch of Jones, Loyd & Co. Loyd joined his father's bank, and took control of the bank after his father retired in 1844. On his father's death in 1858 Loyd inherited an estate worth £Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
2 million. In 1864 the bank became incorporated with the London and Westminster Bank.
Political career
Loyd sat in parliament as Whig member for HytheHythe (UK Parliament constituency)
Hythe was a constituency centred on the town of Hythe in Kent. It returned two Members of Parliament to the House of Commons until 1832, when its representation was reduced to one member...
from 1819 to 1826, and unsuccessfully contested Manchester
Manchester (UK Parliament constituency)
Manchester was a Parliamentary borough constituency in the county of Lancashire which was represented in the House of Commons of the Parliament of the United Kingdom. Its territory consisted of the city of Manchester.- History :...
in 1832. As early as 1832 he was recognized as one of the foremost authorities on banking, and he enjoyed much influence with successive ministries and chancellors of the exchequer
Chancellor of the Exchequer
The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the...
. Loyd is considered as one of the great figures in British monetary history, particularly with respect to the Bank Charter Act of 1844. He was also opposed to limited liability
Limited liability
Limited liability is a concept where by a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited liability. If a company with limited liability is sued, then the plaintiffs are suing the company, not its...
and the introduction of a decimal currency. In 1850 he was raised to the peerage as Baron Overstone, of Overstone and of Fotheringhay, both in the County of Northampton. Lord Overstone was a member of The Club (Literary Club) and the Political Economy Club
Political Economy Club
The Political Economy Club was founded by James Mill and a circle of friends in 1821 in London, for the purpose of coming to an agreement on the fundamental principles of political economy...
and served as High Sheriff of Warwickshire
High Sheriff of Warwickshire
The High Sheriff is the oldest secular office under the Crown. Formerly the High Sheriff was the principal law enforcement officer in the county but over the centuries most of the responsibilities associated with the post have been transferred elsewhere or are now defunct, so that its functions...
in 1838 and as President of the Royal Statistical Society
President of the Royal Statistical Society
The President of the Royal Statistical Society is the head of the Royal Statistical Society , elected biannually by the Fellows of the Society. ....
from 1851 to 1853.
Family
Lord Overstone married Harriet, daughter of Ichabod Wright, in 1829. They had one son, who died as an infant, and a daughter. His seat was Wolvey Hall, WolveyWolvey
Wolvey is a village and parish in Warwickshire, England. According to the 2001 census it had a population of 1,741.The village, originally on the main route between Leicester and Coventry, is now on the B4065 and B4109 roads and is located on the Warwickshire/Leicestershire border in an outlying...
, Warwickshire
Warwickshire
Warwickshire is a landlocked non-metropolitan county in the West Midlands region of England. The county town is Warwick, although the largest town is Nuneaton. The county is famous for being the birthplace of William Shakespeare...
, which he purchased in 1815. Lady Overstone died in November 1864. Overstone remained a widower until his death in November 1883, aged 87. The barony died with him as he had no surviving male issue. The majority of his considerable fortune was passed on to his daughter, the Honourable Harriet Sarah Loyd. She was the wife of Robert Lindsay, who assumed the additional surname of Loyd and was created Baron Wantage in 1885. Overstone's nephew Lewis Vivian Loyd
Lewis Vivian Loyd
Colonel Lewis Vivian Loyd DL was a British Conservative Party politician.He was elected at the 1892 general election as the Member of Parliament for Chatham in Kent, but did not seek re-election in 1895, and did not stand for Parliament again.He was married on 14 August 1879 to Lady Mary Sophia...
inherited part of the estate, including the manor of Withybrook
Withybrook
Withybrook is a rural village and civil parish in the English county of Warwickshire. According to the 2001 census its population was 232.The village is located in a valley just east of the old Fosse Way, about halfway between Nuneaton and Rugby on the B4112 road. Administratively it forms part of...
, Wolvey, Warwickshire.
External links
- The Overstone Papers in Senate House Library, University of London
- http://www.aim25.ac.uk/cats/14/2017.htm
- http://www.berkshirehistory.com/bios/rjllinsay.html
- http://freepages.genealogy.rootsweb.com/~villages/berks/ardington_lockinge.htm