Sir Cowasji Jehangir Readymoney (1812-1878)

Sir Cowasji Jehangir Readymoney, CSI (24 May 1812 – 19 July 1878) was a

Parsi Parsis () or Parsees are an ethnoreligious group of the Indian subcontinent adhering to Zoroastrianism. They are descended from Persians who migrated to Medieval India during and after the Arab conquest of Iran (part of the early Muslim conq ...

community leader, philanthropist and industrialist of

Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

, India.

Family and background

Cowasji Jehangir Readymoney came from a wealthy

family. His great-grandfather and two great-uncles had moved in the early 18th century from

Navsari Navsari is the ninth biggest city in the state of Gujarat in India. It is the administrative headquarters of Navsari District. Navsari is situated between Surat & Mumbai. Navsari is a twin city of Surat. It is located 37 km south of Sura ...

near

Surat Surat is a city in the western Indian state of Gujarat. The word Surat literally means ''face'' in Gujarati and Hindi. Located on the banks of the river Tapti near its confluence with the Arabian Sea, it used to be a large seaport. It is now ...

and had become pioneers in the lucrative

opium Opium (or poppy tears, scientific name: ''Lachryma papaveris'') is dried latex obtained from the seed capsules of the opium poppy ''Papaver somniferum''. Approximately 12 percent of opium is made up of the analgesic alkaloid morphine, which i ...

trade with China. The brothers were cash-rich and worked as bankers to various British clients, and they earned for themselves the

sobriquet A sobriquet ( ), or soubriquet, is a nickname, sometimes assumed, but often given by another, that is descriptive. A sobriquet is distinct from a pseudonym, as it is typically a familiar name used in place of a real name, without the need of expla ...

"Readymoney," which they later adopted as a surname. Among the three brothers, only Hirji Jewanji Readymoney was blessed with surviving issue, two daughters. He arranged in the usual Indian way for them to marry into families of their own community and similar background. The girls were married into wealthy Parsi families; the elder married a Banaji, the younger a Dady Sett (or Dadiseth). In the next generation, the son of the elder daughter, Jehangir Hirji, married the daughter of the younger daughter, Mirbai, again in a match arranged by their families in the usual Indian way. Jehangir Hirji was designated the heir of his grandfather and his two granduncles. He and Mirbai were blessed with two sons. The elder was the father of

Jehangir Cowasji Jehangir Readymoney Sir Jehangir Cowasji Jehangir Readymoney, 1st Baronet, (8 June 1853 – 26 July 1934) was a prominent member of the Bombay Parsi community. He was the nephew and heir to the childless Sir Cowasji Jehangir ''Readymoney'' (1812–1878). He marr ...

and the younger was Cowasji Jehangir, the subject of this page.

Business career

Cowasji Jehangir Readymoney's only formal education was at the (then) well-known school kept by Serjeant Sykes at one of Bombay's forts. At the age of 15, Readymoney entered the firm of Duncan, Gibb & Co. as "

godown A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial parks on the outskirts of cities, tow ...

keeper," or warehouse clerk. In 1837 Readymoney was promoted to the responsible and lucrative appointment of "guarantee broker" to two leading European firms in Bombay. By 1846 he was able to begin trading on his own account. In 1866 Readymoney was appointed a commissioner of

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

, his tactful management being largely responsible for the fact that this tax, then new to Bombay and unpopular, was levied with unexpected financial success.

Public service and philanthropy

Jehangir Fountain Regents Park 2006-04-14

Readymoney was appointed

Justice of the Peace A justice of the peace (JP) is a judicial officer of a lower or ''puisne'' court, elected or appointed by means of a commission ( letters patent) to keep the peace. In past centuries the term commissioner of the peace was often used with the sa ...

for the town and island of Bombay and a member of the Board of Conservancy. He was invested as a Companion of The Most Exalted

Order of the Star of India The Most Exalted Order of the Star of India is an order of chivalry founded by Queen Victoria in 1861. The Order includes members of three classes: # Knight Grand Commander (GCSI) # Knight Commander ( KCSI) # Companion ( CSI) No appointments ...

(C.S.I) in 1871. In 1872, he was created a

Knight Bachelor The title of Knight Bachelor is the basic rank granted to a man who has been knighted by the monarch but not inducted as a member of one of the organised orders of chivalry; it is a part of the British honours system. Knights Bachelor are the ...

of the United Kingdom in recognition of his donations to the

Indian Institute The Indian Institute was an institute within the University of Oxford. It was started by Sir Monier Monier-Williams in 1883 to provide training for the Indian Civil Service of the British Raj. The institute's building is located in central Oxfor ...

in London and other charitable causes in Bombay amounting to approximately £200,000. Readymoney built colleges, hospitals, insane asylums; founded a refuge for people of "respectability" who found themselves destitute or friendless in Bombay; erected several drinking fountains of artistic merit; gave donations to the

Catholic The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a ...

and the

Presbyterian Presbyterianism is a part of the Reformed tradition within Protestantism that broke from the Roman Catholic Church in Scotland by John Knox, who was a priest at St. Giles Cathedral (Church of Scotland). Presbyterian churches derive their nam ...

missions in India. He financed the erection, in 1869, of the Readymoney Drinking Fountain in

Regent's Park Regent's Park (officially The Regent's Park) is one of the Royal Parks of London. It occupies of high ground in north-west Inner London, administratively split between the City of Westminster and the Borough of Camden (and historically betwee ...

, London, which was opened by the Princess of Teck, as a mark of gratitude from the Parsi community to the protection that British rule in India had given them. Readymoney had a particular association with

University of Bombay The University of Mumbai is a collegiate, state-owned, public research university in Mumbai. The University of Mumbai is one of the largest universities in the world. , the university had 711 affiliated colleges. Ratan Tata is the appointed ...

and he financed the erection of several notable buildings there, including the Convocation Hall designed by

Sir George Gilbert Scott Sir George Gilbert Scott (13 July 1811 – 27 March 1878), known as Sir Gilbert Scott, was a prolific English Gothic Revival architect, chiefly associated with the design, building and renovation of churches and cathedrals, although he started ...

.Around Oval Maidan
Readymoney was also a member of the University's Faculty of Civil Engineering and its Senate. A statue of Readymoney, by

Thomas Woolner Thomas Woolner (17 December 1825 – 7 October 1892) was an English sculptor and poet who was one of the founder-members of the Pre-Raphaelite Brotherhood. He was the only sculptor among the original members. After participating in the found ...

, stands on the campus grounds. There is also a small bas-relief sculpture of him at the

University of Edinburgh The University of Edinburgh ( sco, University o Edinburgh, gd, Oilthigh Dhùn Èideann; abbreviated as ''Edin.'' in post-nominals) is a public research university based in Edinburgh, Scotland. Granted a royal charter by King James VI in 15 ...

but Readymoney's connection to that establishment is unknown. During his lifetime, Readymoney was known as the ''Peabody of Bombay''. The reason for this epithet is unknown, but may be a reference to London's

Peabody Trust The Peabody Trust was founded in 1862 as the Peabody Donation Fund and now brands itself simply as Peabody.

, since Jehangir owned several large housing estates and is said to have identified himself with

George Peabody George Peabody ( ; February 18, 1795 – November 4, 1869) was an American financier and philanthropist. He is widely regarded as the father of modern philanthropy. Born into a poor family in Massachusetts, Peabody went into business in dry go ...

Death

After a long illness, Readymoney died in 1878. His nephew and adopted son and heir,

, was created a Knight Bachelor (in 1895) and a

Baronet A baronet ( or ; abbreviated Bart or Bt) or the female equivalent, a baronetess (, , or ; abbreviation Btss), is the holder of a baronetcy, a hereditary title awarded by the British Crown. The title of baronet is mentioned as early as the 14th ...

(in 1908).

References

External links

Life Of Cowasjee Jehangir Readymoney (1890)
{{DEFAULTSORT:Readymoney, Cowasji 1812 births 1878 deaths Businesspeople from Mumbai Parsi people from Mumbai Companions of the Order of the Star of India Knights Bachelor Founders of Indian schools and colleges Indian Knights Bachelor 19th-century Indian businesspeople Parsi people 19th-century Indian philanthropists