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 Henry VIII, King Henry VIII, Trinity is one of the largest Cambridge colleges, with the largest financial endowment of any college at either Cambridge ...
.
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
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 ...
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 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) and the
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, ...
and served as
High Sheriff of Warwickshire in 1838 and as
President of the Royal Statistical Society from 1851 to 1853. In 1847 and 1848, he served on the committee of the
British Relief Association, 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. 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 i ...
, 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
Withybrook is a rural village and civil parish in the English county of Warwickshire. Its population was 255 at the 2021 census, increased slightly from 242 at the 2011 census.
The village is located in a valley of a small brook, which is a trib ...
, 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 (born 1 ...
Barons in the Peerage of the United Kingdom
High Sheriffs of Warwickshire
Presidents of the Royal Statistical Society
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 (born 1 ...
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