William Newmarch
Encyclopedia
William Newmarch was a Yorkshireman, English
banker, economist
and statistician
born at Thirsk
, Yorkshire.
He took his schooling at York
, and, as a young man, held some clerkly appointments in that city. He early showed his literary taste and talent by publishing a Guide to the City, by frequent correspondence with the "Sheffield Iris
," and by the delivery of lectures. Having served as a clerk under a stamp distributor, he passed to the Yorkshire Fire and Life Office at York, then to the banking house of Messrs. Leatham, Few, and Co., at Wakefield
(1843-1846). (Proceedings of the Royal Society of London)
He then moved to London
and worked for three banks:
Notwithstanding the continuous pressure of an active business life he found time to contribute largely many valuable articles to the magazines and newspapers, and took an active part in the proceedings of the Royal Statistical Society
(of which he was one of the honorary secretaries, editor of its journal, and in President (1869-1871)) and the Political Economy Club
. He was also elected a fellow of the Royal Society
. His extensive knowledge of banking was displayed in the evidence which he gave before the select committee on the Bank Acts in 1857. He collaborated with Thomas Tooke
in the two final volumes of his History of Prices and was responsible for the greater part of the work in those volumes. For nineteen years he wrote an admirable survey, of the commercial history of the year in The Economist
. He died at Torquay on 23 March 1882. After his death his friends founded, in perpetuation of his memory, a Newmarch Lectureship in economic science and statistics at University College, London. Arthur Bowley
, Josiah Stamp
, and Udny Yule
were amongst the distinguished Newmarch lecturers.
There is more information about Newmarch in the following AIM25 library record
Newmarch is placed among the classical economists in the opening (and sample) chapter of the following
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
banker, economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and statistician
Statistician
A statistician is someone who works with theoretical or applied statistics. The profession exists in both the private and public sectors. The core of that work is to measure, interpret, and describe the world and human activity patterns within it...
born at Thirsk
Thirsk
Thirsk is a small market town and civil parish in the Hambleton district of North Yorkshire, England. The local travel links are located a mile from the town centre to Thirsk railway station and to Durham Tees Valley Airport...
, Yorkshire.
He took his schooling at York
York
York is a walled city, situated at the confluence of the Rivers Ouse and Foss in North Yorkshire, England. The city has a rich heritage and has provided the backdrop to major political events throughout much of its two millennia of existence...
, and, as a young man, held some clerkly appointments in that city. He early showed his literary taste and talent by publishing a Guide to the City, by frequent correspondence with the "Sheffield Iris
Sheffield Iris
The Sheffield Iris was an early weekly newspaper published on Tuesdays in Sheffield, England.The first newspaper to be published in Sheffield to see any degree of success was the Sheffield Weekly Journal in 1754...
," and by the delivery of lectures. Having served as a clerk under a stamp distributor, he passed to the Yorkshire Fire and Life Office at York, then to the banking house of Messrs. Leatham, Few, and Co., at Wakefield
Wakefield
Wakefield is the main settlement and administrative centre of the City of Wakefield, a metropolitan district of West Yorkshire, England. Located by the River Calder on the eastern edge of the Pennines, the urban area is and had a population of 76,886 in 2001....
(1843-1846). (Proceedings of the Royal Society of London)
He then moved to London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and worked for three banks:
- the Agra Bank (1846-1851)
- secretary to the Globe Insurance Company (1851-1862)
- chief officer in the banking-house of Glyn, Mills & Co. (1862-1881)
Notwithstanding the continuous pressure of an active business life he found time to contribute largely many valuable articles to the magazines and newspapers, and took an active part in the proceedings of the Royal Statistical Society
Royal Statistical Society
The Royal Statistical Society is a learned society for statistics and a professional body for statisticians in the UK.-History:It was founded in 1834 as the Statistical Society of London , though a perhaps unrelated London Statistical Society was in existence at least as early as 1824...
(of which he was one of the honorary secretaries, editor of its journal, and in President (1869-1871)) 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...
. He was also elected a fellow of the Royal Society
Royal Society
The Royal Society of London for Improving Natural Knowledge, known simply as the Royal Society, is a learned society for science, and is possibly the oldest such society in existence. Founded in November 1660, it was granted a Royal Charter by King Charles II as the "Royal Society of London"...
. His extensive knowledge of banking was displayed in the evidence which he gave before the select committee on the Bank Acts in 1857. He collaborated with Thomas Tooke
Thomas Tooke
Thomas Tooke was an English economist known for writing on money and his work on economic statistics. After Tooke's death the Statistical Society endowed the Tooke Chair of economics at King's College London, and a Tooke Prize.In business, he served several terms between 1840 and 1852 as governor...
in the two final volumes of his History of Prices and was responsible for the greater part of the work in those volumes. For nineteen years he wrote an admirable survey, of the commercial history of the year in The Economist
The Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
. He died at Torquay on 23 March 1882. After his death his friends founded, in perpetuation of his memory, a Newmarch Lectureship in economic science and statistics at University College, London. Arthur Bowley
Arthur Lyon Bowley
Sir Arthur Lyon Bowley was an English statistician and economist who worked on economic statistics and pioneered the use of sampling techniques in social surveys....
, Josiah Stamp
Josiah Stamp, 1st Baron Stamp
Josiah Charles Stamp, 1st Baron Stamp, Bt, GCB, GBE, FBA, was a British civil servant, industrialist, economist, statistician, writer, and banker. He was a director of the Bank of England and chairman of the London, Midland and Scottish Railway.Josiah was born in London, the third of seven...
, and Udny Yule
Udny Yule
George Udny Yule FRS , usually known as Udny Yule, was a British statistician, born at Beech Hill, a house in Morham near Haddington, Scotland and died in Cambridge, England. His father, also George Udny Yule, and a nephew, were knighted. His uncle was the noted orientalist Sir Henry Yule...
were amongst the distinguished Newmarch lecturers.
Obituaries
- "The Death of Mr. William Newmarch" Journal of the Statistical Society of London, Vol. 45, No. 1. (Mar., 1882), pp. 115-121.
- Obituary Notices of Fellows Deceased, Proceedings of the Royal Society of London, Vol. 34. (1882 - 1883), pp. xvii-xix.
Discussion
There is a section on Newmarch in- Paul J. FitzPatrick "Leading British Statisticians of the Nineteenth Century," Journal of the American Statistical Association, Vol. 55, No. 289. (Mar., 1960), pp. 38-70. Reprinted in Studies in the History of Statistics and Probability II Edited by M G Kendall and R L Plackett, London 1977.
Resources and external links
There is more information about Newmarch in the following AIM25 library record
Newmarch is placed among the classical economists in the opening (and sample) chapter of the following