Samuel Jones-Loyd, 1st Baron Overstone (25 September 1796 – 17 November 1883) was a British banker and politician.

Background and education

Loyd was the only son of the Rev. Lewis Loyd and Sarah, daughter of John Jones, a

Manchester Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...

banker. He was educated at

Eton Eton most commonly refers to Eton College, a public school in Eton, Berkshire, England. Eton may also refer to: Places *Eton, Berkshire, a town in Berkshire, England * Eton, Georgia, a town in the United States * Éton, a commune in the Meuse dep ...

and

Trinity College, Cambridge Trinity College is a constituent college of the University of Cambridge. Founded in 1546 by King Henry VIII, Trinity is one of the largest Cambridge colleges, with the largest financial endowment of any college at either Cambridge or Oxford. ...

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 £ 2 million. In 1864 the bank became incorporated with the

London and Westminster Bank Westminster Bank was a British retail bank which operated in England and Wales from 1834 until its merger into the National Westminster Bank in 1970; it continued to exist as a dormant registered non-trading company until 4 July 2017 when it ...

Political career

Loyd sat in parliament as Whig member for

Hythe Hythe, from Anglo-Saxon ''hȳð'', may refer to a landing-place, port or haven, either as an element in a toponym, such as Rotherhithe in London, or to: Places Australia * Hythe, Tasmania Canada *Hythe, Alberta, a village in Canada England * T ...

from 1819 to 1826, and unsuccessfully contested

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 ( la, cancellarius) is a title of various official positions in the governments of many nations. The original chancellors were the of Roman courts of justice—ushers, who sat at the or lattice work screens of a basilica or law cou ...

. Loyd is considered one of the great figures in British monetary history, particularly with respect to the

Bank Charter Act of 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 the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks ...

. He was also opposed to

limited liability Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to it ...

and the introduction of a

decimal currency Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10. Most countries have decimalised their currencies, converting them from non-decimal ...

. 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) The Club or Literary Club is a London dining club founded in February 1764 by the artist Joshua Reynolds and essayist Samuel Johnson, with Edmund Burke, the Anglo-Irish philosopher-politician. Description Initially, the Club would meet one even ...

and the Political Economy Club and served as

High Sheriff of Warwickshire This is a list of sheriffs and high sheriffs of the English county of Warwickshire. The Sheriff is the oldest secular office under the Crown. Formerly the Sheriff was the principal law enforcement officer in the county but over the centuries most ...

in 1838 and as

President of the Royal Statistical Society The president of the Royal Statistical Society is the head of the Royal Statistical Society (RSS), elected biennially by the Fellows of the Society. (The time-period between elections has varied in the past, and in fact elections only rarely occur ...

from 1851 to 1853. In 1847 and 1848, he served on the committee of the

British Relief Association The British Association for the Relief of Distress in Ireland and the Highlands of Scotland, known as the British Relief Association (BRA), was a private charity of the mid-19th century in the United Kingdom of Great Britain and Ireland. Establis ...

, which raised almost half a million pounds on behalf of the famine victims in Ireland. (see, Christine Kinealy, Charity and the Great Hunger. The Kindness of Strangers'. Bloomsbury, 2013)

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 Overstone House, Overstone,

Northamptonshire Northamptonshire (; abbreviated Northants.) is a county in the East Midlands of England. In 2015, it had a population of 723,000. The county is administered by two unitary authorities: North Northamptonshire and West Northamptonshire. It is ...

built in 1862–4 to a design by

William Milford Teulon William Milford Teulon (30 May 1823 – 23 June 1900, Leamington) was an English architect and landscape designer. Teulon was born in 1823 in Greenwich, Kent, the son of a cabinet-maker from a French Huguenot family. He followed his elder brother ...

, brother of the more eminent - and notorious 'Rogue' - Victorian architect

Samuel Sanders Teulon Samuel Sanders Teulon (2 March 1812 – 2 May 1873) was an English Gothic Revival architect, noted for his use of polychrome brickwork and the complex planning of his buildings. Family Teulon was born in 1812 in Greenwich, Kent, the son of a ...

. Lady Overstone died on 6 November 1864. Overstone remained a widower until his death on 17 November 1883, aged 87. The barony died with him as he had no surviving male issue. His will was proven on 31 December at £2,118,803 17s. 5d. (roughly equivalent to £ in ). The majority of Overstone's fortune was passed on to his daughter, Harriet. She was the wife of Robert Lindsay, who assumed the additional surname of Loyd and was created Baron Wantage in 1885. Overstone's relative

Lewis Vivian Loyd Colonel Lewis Vivian Loyd DL (14 November 1852 – 21 September 1908) was a British Conservative Party politician. He was elected at the 1892 general election as the Member of Parliament (MP) for Chatham in Kent, but did not seek re-election ...

, the son of his second cousin William Jones Loyd,Alwyne E Loyd (December 1990)
Lloyd and Loyd 1690-1990
Cil-y-cwm history and heritage. via

archive.org The Internet Archive is an American digital library with the stated mission of "universal access to all knowledge". It provides free public access to collections of digitized materials, including websites, software applications/games, music, ...

inherited part of the estate, including the manor of Withybrook, Wolvey, Warwickshire.

References

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 {{DEFAULTSORT:Overstone, Samuel Jones-Loyd, 1st Baron 1796 births 1883 deaths People educated at Eton College Alumni of Trinity College, Cambridge

Loyd Loyd may refer to: Places United States * Loyd, Colorado * Loyd, Illinois * Loyd, Louisiana * Loyd, Mississippi * Loyd, Wisconsin, unincorporated community People Given name * Loyd Auerbach, professor of parapsychology * Loyd Blankenship (bo ...

Barons in the Peerage of the United Kingdom High Sheriffs of Warwickshire Presidents of the Royal Statistical Society

UK MPs 1818–1820 UK MPs 1820–1826 UK MPs who were granted peerages Sheriffs of Warwickshire Peers of the United Kingdom created by Queen Victoria