Baring Brothers & Co. (London, England)
Name Entries
corporateBody
Baring Brothers & Co. (London, England)
Name Components
Name :
Baring Brothers & Co.
Location :
London, England
eng
Latn
authorizedForm
rda
Baring Brothers & Co. Ltd. (London, England)
Name Components
Name :
Baring Brothers & Co. Ltd.
Location :
London, England
eng
Latn
alternativeForm
rda
John and Francis Baring and Co
Name Components
Name :
John and Francis Baring and Co.
eng
Latn
alternativeForm
rda
Baring Brothers Bank
Name Components
Name :
Baring Brothers Bank
eng
Latn
alternativeForm
rda
Genders
Exist Dates
Biographical History
In 1800, John retired and the company was reorganized as Francis Baring and Co. Francis's new partners were his eldest son Thomas (later to be Sir Thomas Baring, 2nd Baronet) and son-in-law, Charles Wall. Then, in 1802, Barings and Hope & Co. were called on to facilitate the largest land purchase in history: the Louisiana Purchase, which doubled the size of the USA. It is regarded as "one of the most historically significant trades of all time". This was accomplished even though Britain was at war with France and the sale helped to finance Napoleon's war effort. Technically, the United States purchased Louisiana from Barings and Hope, not from Napoleon. Baring was willing to help Napoleon in the short term because he, and British politicians who backed him, predicted that American expansion into Louisiana would ensure Barings' profits in Britain. After a $3 million down payment in gold, the remainder of the purchase was made in United States bonds, which Napoleon sold to Barings through Hope & Co. of Amsterdam at a price of $87.50 per $100 face value (a discount of one-eighth). Francis's second son Alexander, working for Hope & Co., made the arrangements in Paris with François Barbé-Marbois, Director of the Public Treasury. Alexander then sailed to the United States and back to pick up the bonds and deliver them to France.
In 1803, Francis began to withdraw from active management, bringing in Thomas's younger brothers Alexander and Henry to become partners in 1804. The new partnership was called Baring Brothers & Co., which it remained until 1890. The offspring of these three brothers became the future generations of Barings leadership. In 1806, the company relocated to 8 Bishopsgate, where it stayed for the remaining life of the company. The building underwent several expansions and refurbishments, and was finally replaced with a new high-rise building in 1981.
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External Related CPF
https://viaf.org/viaf/168123792
https://viaf.org/viaf/124440473
https://www.worldcat.org/identities/lccn-n88120205
https://id.loc.gov/authorities/n88120205
https://viaf.org/viaf/150955760
https://www.worldcat.org/identities/lccn-nr95-037327
https://id.loc.gov/authorities/nr95037327
https://viaf.org/viaf/142055858
Other Entity IDs (Same As)
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Resource Relations
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Internal CPF Relations
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Languages Used
eng
Latn
Subjects
Banks and banking
Finance, Public
Mexican War, 1846-1848
Shipping
Travel costs
Nationalities
Britons
Activities
Bankers
Shippers
Shipping
Occupations
Legal Statuses
Places
London
AssociatedPlace
Roumania, Europe
AssociatedPlace
United States
AssociatedPlace
Europe
AssociatedPlace
Dover
AssociatedPlace
Louisiana
AssociatedPlace
Bucharest
AssociatedPlace
West Indies
AssociatedPlace
Berne, Canton of, Switzerland
AssociatedPlace
South America
AssociatedPlace
Ireland
AssociatedPlace
Kingdom of Spain
AssociatedPlace
Canada
AssociatedPlace
Blackheath, Kent
AssociatedPlace
New York
AssociatedPlace
Convention Declarations
<conventionDeclaration><citation>VIAF</citation></conventionDeclaration>