William Lidderdale | |
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| Born | (1832-07-04)4 July 1832 Saint Petersburg |
| Died | 26 June 1902(1902-06-26) (aged 69) London |
| Nationality | British |
| Occupation | governor of theBank of England |
| Known for | Panic of 1890 |
| Spouse | Mary Martha Busk |
William LidderdalePC (4 July 1832 – 26 June 1902)[1] was a British merchant, and governor of theBank of England between 1889 and 1892.[2]
Lidderdale was born to British parents at the British Chaplaincy in Saint Petersburg, Russia, and was educated atBirkenhead inCheshire.
After working for the Russian merchants Heath and Co, he joined the Liverpool merchant house ofRathbone 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, becomingDeputy Governor in 1887, andGovernor in 1889.
Lidderdale's period in office is notable for his handling of theBarings crisis, cause of the 'Panic of 1890'. Barings became over-extended inunderwritingArgentine 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 successfulconsortium to rescue the bank. In recognition, he was granted theFreedom of the City of London and was made a member of the BritishPrivy Council.
Lidderdale lived atAscot Place atNorth Ascot inWinkfield,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 55Montagu Square, London, W., and was buried atWinkfield, near Windsor.[3]
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]
This article incorporates text from a publication now in thepublic domain: Welsh, Charles (1912). "Lidderdale, William". InLee, Sidney (ed.).Dictionary of National Biography (2nd supplement). London: Smith, Elder & Co.
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| Preceded by | Governor of the Bank of England 1889–1892 | Succeeded by |