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Private Banking in London's West End, 1750–1830

Private Banking in London's West End, 1750–1830 AbstractLondon private bankers trace their origins back to the communities of scriveners and goldsmiths active in the capital in the mid-seventeenth century. However, it was not until the early eighteenth century that private bankers began to emerge as a clearly defined group within London's financial community. By the later eighteenth century a clear differentiation in the focus and direction of their business had been established: on one hand were the West End banks who provided personal deposit banking services to the aristocracy and gentry resident in the capital on a seasonal or permanent basis; on the other were the City bankers, whose business was increasingly commercial in character, focusing on trade finance, bill discounting and the provision of inter-bank remittance facilities at home and abroad. This paper focuses on the development of the West End bankers in London between c.1750 and 1830, a group previously relatively little studied despite the fact they contained some of the most famous names in English banking, including Child & Co., Hoare & Co. and Drummond & Co. The paper pays particular attention to the character and status of the London private bankers, their geographical distribution in the capital, the nature of their business and relationships with customers. Finally, it provides a detailed discussion of the design and building of some key West End banking houses in the later-eighteenth and early-nineteenth centuries, linking the social and cultural characteristics of the bankers and their business with the changing financial landscape of the metropolis in the Georgian period. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The London Journal: A Review of Metropolitan Society Past and Present Taylor & Francis

Private Banking in London's West End, 1750–1830

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References (52)

Publisher
Taylor & Francis
Copyright
© 2003 Maney Publishing
ISSN
1749-6322
eISSN
0305-8034
DOI
10.1179/ldn.2003.28.1.29
Publisher site
See Article on Publisher Site

Abstract

AbstractLondon private bankers trace their origins back to the communities of scriveners and goldsmiths active in the capital in the mid-seventeenth century. However, it was not until the early eighteenth century that private bankers began to emerge as a clearly defined group within London's financial community. By the later eighteenth century a clear differentiation in the focus and direction of their business had been established: on one hand were the West End banks who provided personal deposit banking services to the aristocracy and gentry resident in the capital on a seasonal or permanent basis; on the other were the City bankers, whose business was increasingly commercial in character, focusing on trade finance, bill discounting and the provision of inter-bank remittance facilities at home and abroad. This paper focuses on the development of the West End bankers in London between c.1750 and 1830, a group previously relatively little studied despite the fact they contained some of the most famous names in English banking, including Child & Co., Hoare & Co. and Drummond & Co. The paper pays particular attention to the character and status of the London private bankers, their geographical distribution in the capital, the nature of their business and relationships with customers. Finally, it provides a detailed discussion of the design and building of some key West End banking houses in the later-eighteenth and early-nineteenth centuries, linking the social and cultural characteristics of the bankers and their business with the changing financial landscape of the metropolis in the Georgian period.

Journal

The London Journal: A Review of Metropolitan Society Past and PresentTaylor & Francis

Published: May 1, 2003

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