Thomas Tooke
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Thomas Tooke
Thomas Tooke (; 28 February 177426 February 1858) was an English economist known for writing on money and 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 of the Royal Exchange Corporation. Likewise, he served for several terms as chairman of the St Katharine's Docks company. He was also an early director of the London and Birmingham Railway. Life Born at Kronstadt on 29 February 1774, he was the eldest son of William Tooke, at that time chaplain to the British factory there. Thomas began his professional life at the age of fifteen in a house of business at St Petersburg, and subsequently became a partner in the London firms of Stephen Thornton & Co., and Astell, Tooke, & Thornton. He took no serious part in discussion of economic questions until 1819, when he gave evidence before committees of both Houses ...
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Classical Economics
Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's ''The Wealth of Nations'' in 1776 is usually considered to mark the beginning of classical economics.Smith, Adam (1776) An Inquiry into the Nature and Causes of The Wealth of Nations. (accessible by table of contents chapter titles) AdamSmith.org The fundamental message in Smith's book was that the wealth of any nation was determined not by the gold in the monarch's coffers, but by its national income. This income was in turn based on the ...
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Lord Liverpool
Robert Banks Jenkinson, 2nd Earl of Liverpool, (7 June 1770 – 4 December 1828) was a British Tory statesman who served as Prime Minister of the United Kingdom from 1812 to 1827. He held many important cabinet offices such as Foreign Secretary, Home Secretary and Secretary of State for War and the Colonies. He was also a member of the House of Lords and served as leader. As prime minister, Liverpool called for repressive measures at domestic level to maintain order after the Peterloo Massacre of 1819. He dealt smoothly with the Prince Regent when King George III was incapacitated. He also steered the country through the period of radicalism and unrest that followed the Napoleonic Wars. He favoured commercial and manufacturing interests as well as the landed interest. He sought a compromise of the heated issue of Catholic emancipation. The revival of the economy strengthened his political position. By the 1820s he was the leader of a reform faction of "Liberal Tories" who low ...
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Francis Horner
Francis Horner FRSE (12 August 1778 – 8 February 1817) was a Scottish Whig politician, journalist, lawyer and political economist. Early life: 1778–1807 He was born in Edinburgh the son of John Horner a linen merchant and his wife Joanna Baillie. The family lived originally on Princes Street then moved to 19 York Place. His younger brother was Leonard Horner. He had another younger brother, John Horner Esq. (1782-1829), and a younger sister, Frances Horner (1789-1876) who married Myles Byrne. He was educated at the High School in Edinburgh under Dr Alexander Adam. He then spent a year at a private school in Shacklewell near London under John Hewlett. He then studied law at University of Edinburgh, where he was praised by Professor Dugald Stewart as an intellectual all-rounder.Roland Thorne,Horner, Francis (1778–1817), ''Oxford Dictionary of National Biography'', Oxford University Press, 2004; online edn, Oct 2005, accessed 10 September 2012. He left the university in 1 ...
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Sir Martin Archer Shee
Sir Martin Archer Shee (23 December 1769 – 13 August 1850) was an Irish portrait painter. He also served as the president of the Royal Academy. Early life He was born in Dublin, of an old Irish Roman Catholic family, the son of Martin Shee, a merchant, who regarded the profession of a painter as an unsuitable occupation for a descendant of the Shees. His son Martin nevertheless studied art in the Royal Dublin Society and came to London. There, in 1788, he was introduced by Edmund Burke to Joshua Reynolds, on whose advice he studied in the schools of the Royal Academy of Arts. Career In 1789 he exhibited his first two pictures, the "Head of an Old Man" and "Portrait of a Gentleman." Over the next ten years he steadily increased in practice. He was chosen an associate of the Royal Academy in 1798, in 1789 he married Mary, eldest daughter of James Power of Youghal, and in 1800 he was elected a Royal Academician. He moved to George Romney's former house at 32 Cavendish Square, ...
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Kensal Green Cemetery
Kensal Green Cemetery is a cemetery in the Kensal Green area of Queens Park in the Royal Borough of Kensington and Chelsea in London, England. Inspired by Père Lachaise Cemetery in Paris, it was founded by the barrister George Frederick Carden.The Founding of Kensal Green Cemetery
Accessed 7 February 2014
The cemetery opened in 1833 and comprises of grounds, including two conservation areas, adjoining a canal. The cemetery is home to at least 33 species of bird and other wildlife. This distinctive cemetery has memorials ranging from large s housing the rich and famous to many distinctive smaller graves and includes special areas dedicated to the very young. It has three ch ...
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Russell Square
Russell Square is a large garden square in Bloomsbury, in the London Borough of Camden, built predominantly by the firm of James Burton. It is near the University of London's main buildings and the British Museum. Almost exactly square, to the north is Woburn Place and to the south-east is Southampton Row. Russell Square tube station sits to the north-east. It is named after the surname of the Earls and Dukes of Bedford; the freehold remains with the latter's conservation trusts who have agreed public access and management by Camden Council. The gardens are in the mainstream, initial category (of Grade II listing) on the Register of Historic Parks and Gardens. In 2005, two terrorist bombings occurred nearby; one on a tube train between Kings Cross St Pancras and Russell Square, the other on a bus (Route 30, on diversion) outside the HQ of the British Medical Association on Tavistock Square. In condolence and commemoration the public and public institutions laid flowers at both ...
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Académie Des Sciences Morales Et Politiques
An academy (Attic Greek: Ἀκαδήμεια; Koine Greek Ἀκαδημία) is an institution of secondary or tertiary higher learning (and generally also research or honorary membership). The name traces back to Plato's school of philosophy, founded approximately 385 BC at Akademia, a sanctuary of Athena, the goddess of wisdom and skill, north of Athens, Greece. Etymology The word comes from the ''Academy'' in ancient Greece, which derives from the Athenian hero, ''Akademos''. Outside the city walls of Athens, the gymnasium was made famous by Plato as a center of learning. The sacred space, dedicated to the goddess of wisdom, Athena, had formerly been an olive grove, hence the expression "the groves of Academe". In these gardens, the philosopher Plato conversed with followers. Plato developed his sessions into a method of teaching philosophy and in 387 BC, established what is known today as the Old Academy. By extension, ''academia'' has come to mean the accumulation, dev ...
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Fellow Of The Royal Society
Fellowship of the Royal Society (FRS, ForMemRS and HonFRS) is an award granted by the judges of the Royal Society of London to individuals who have made a "substantial contribution to the improvement of natural science, natural knowledge, including mathematics, engineering science, and medical science". Fellow, Fellowship of the Society, the oldest known scientific academy in continuous existence, is a significant honour. It has been awarded to many eminent scientists throughout history, including Isaac Newton (1672), Michael Faraday (1824), Charles Darwin (1839), Ernest Rutherford (1903), Srinivasa Ramanujan (1918), Albert Einstein (1921), Paul Dirac (1930), Winston Churchill (1941), Subrahmanyan Chandrasekhar (1944), Dorothy Hodgkin (1947), Alan Turing (1951), Lise Meitner (1955) and Francis Crick (1959). More recently, fellowship has been awarded to Stephen Hawking (1974), David Attenborough (1983), Tim Hunt (1991), Elizabeth Blackburn (1992), Tim Berners-Lee (2001), Venki R ...
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Bank Charter Act 1844
The Bank Charter Act 1844 (7 & 8 Vict. c. 32), sometimes referred to as the Peel Banking Act of 1844, was an Act of Parliament, Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England. It is one of the Bank of England Acts 1694 to 1892. Purpose Until the mid-nineteenth century, commercial banks in Britain and Ireland were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation. Under the 1844 Act, bullionism was institutionalized in Britain, creating a ratio between the gold reserves held by the Bank of England and the notes that the Bank could issue, and limited the issuance by English and Welsh banks of non-gold-backed Bank of England notes to up to £14 million. The Act also placed strict curbs on the issuance of notes by the country banks, barring any new "banks of issue" ...
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Paper Money
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This practice of "backing" notes with something of substance is ...
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Political Economy Club
The Political Economy Club is the world's oldest economics association 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. David Ricardo, James Mill, Thomas Malthus (the only one holding an academic post at the time), and Robert Torrens were among the original luminaries. In the early 19th century there were no academic societies or professional associations for economists. The Political Economy Club was a way to establish a scientific community, test ideas, and provide peer review for their work. Despite its closed nature (limited to 30 members as proposed by James Mill), the Political Economy Club was a domineering influence in 19th C. economics. But its exclusivity prevented it from becoming a wider association for economists. That role was filled by Section F of the BAAS (founded1832), the Statistical Society of London (f.1834), the Cobden Club (f.1866) and finally ...
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James Mill
James Mill (born James Milne; 6 April 1773 – 23 June 1836) was a Scottish historian, economist, political theorist, and philosopher. He is counted among the founders of the Ricardian school of economics. He also wrote ''The History of British India (1817)'' and was one of the prominent historians to take colonial approach. He was the first writer to divide Indian history into three parts: Hindu, Muslim and British, a classification which has proved surpassingly influential in the field of Indian historical studies. Mill was the father of John Stuart Mill, a noted philosopher of liberalism and utilitarianism, and a colonial administrator at the East India Company. Biography James Milne, later known as James Mill, was born in Northwater Bridge, in the parish of Logie Pert, Angus, Scotland, the son of James Milne, a shoemaker and small farmer. His mother, Isabel Fenton, of a family that had suffered from connection with the Stuart rising, resolved that he should receive a firs ...
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