Richard Thornton
Encyclopedia
Richard Thornton was an English millionaire. He was born on 20 September 1776 and died on 20 June 1865 in Merton, Surrey. He is buried at West Norwood Cemetery
in London
. On his death, Richard Thornton left an estate of £2,800,000, which is the largest fortune to have been valued for probate in Great Britain before 1870. Richard Thornton was a merchant and trader, notably in Baltic
goods. He was also a Liveryman of the Leathersellers' Company (a Livery Company
of the City of London
), of which he became Master in 1836. He personally funded the new almshouses built for the Leathersellers' Company at Barnet, where his bust (by Thomas Earle) is still preserved and a nearby road is named Thornton Road in his honour. .
. He later funded a primary school and a church building in the village. He was educated at Christ's Hospital
, Newgate Street, London from 1785 to 1791. He became a Donation Governor of Christ's Hospital in 1833. Christ's Hospital – an English boarding school - is now located at Horsham
in Sussex
.
, his name means nothing today, even though in his lifetime his wealth rivalled that of the Rothschilds and the Barings.
. During this campaign the French
army was stationed at Danzig from where it guarded every Baltic port. The Danish were strong supporters of Napoleon and their hostility to English trade was considerable: captains of Danish ships were threatened with death should they engage in any form of commerce with England. This made valuable and essential Baltic trade difficult and dangerous for English merchant ships.
In response Richard Thornton armed one of his own merchant ships, fought off a hostile Danish gunboat, and landed in the Baltic under an assumed German name. In the process he secured essential supplies of Baltic hemp for the Royal Navy
at considerable profit to himself.
Richard Thornton's lucrative Baltic trade continued and two years later, in 1812, his brother Laurence was in the port of Memel, now known as Klaipėda
, when he heard of Napoleon's retreat from Moscow. He got word back to Richard in London so speedily that it was three days before the news reached any one else in the city, including members of the British Government. Realizing this, Richard Thornton went quickly about the city obtaining signatures on contracts for the forward delivery of Baltic goods. Since the contract prices were inflated by the blockade which had now been removed, his already sizable profits became significantly greater.
Richard Thornton's activities in the Baltic earned him the nickname “The Duke of Danzig”.
On 12 June 1827, Richard Thornton sold the paddle steamer "Quentin Durward" to
Kaptajnløtnant Lauritz Christensen, Copenhagen, who renamed her “Dania”. Since
he first used her on pleasure tours on the Sound, this makes her the first ever private steam yacht.
West Norwood Cemetery
West Norwood Cemetery is a cemetery in West Norwood in London, England. It was also known as the South Metropolitan Cemetery.One of the first private landscaped cemeteries in London, it is one of the Magnificent Seven cemeteries of London, and is a site of major historical, architectural and...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. On his death, Richard Thornton left an estate of £2,800,000, which is the largest fortune to have been valued for probate in Great Britain before 1870. Richard Thornton was a merchant and trader, notably in Baltic
Baltic region
The terms Baltic region, Baltic Rim countries, and Baltic Rim refer to slightly different combinations of countries in the general area surrounding the Baltic Sea.- Etymology :...
goods. He was also a Liveryman of the Leathersellers' Company (a Livery Company
Livery Company
The Livery Companies are 108 trade associations in the City of London, almost all of which are known as the "Worshipful Company of" the relevant trade, craft or profession. The medieval Companies originally developed as guilds and were responsible for the regulation of their trades, controlling,...
of the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
), of which he became Master in 1836. He personally funded the new almshouses built for the Leathersellers' Company at Barnet, where his bust (by Thomas Earle) is still preserved and a nearby road is named Thornton Road in his honour. .
Background
Richard Thornton was born in Burton-in-Lonsdale, North YorkshireNorth Yorkshire
North Yorkshire is a non-metropolitan or shire county located in the Yorkshire and the Humber region of England, and a ceremonial county primarily in that region but partly in North East England. Created in 1974 by the Local Government Act 1972 it covers an area of , making it the largest...
. He later funded a primary school and a church building in the village. He was educated at Christ's Hospital
Christ's Hospital
Christ's Hospital is an English coeducational independent day and boarding school with Royal Charter located in the Sussex countryside just south of Horsham in Horsham District, West Sussex, England...
, Newgate Street, London from 1785 to 1791. He became a Donation Governor of Christ's Hospital in 1833. Christ's Hospital – an English boarding school - is now located at Horsham
Horsham
Horsham is a market town with a population of 55,657 on the upper reaches of the River Arun in the centre of the Weald, West Sussex, in the historic County of Sussex, England. The town is south south-west of London, north-west of Brighton and north-east of the county town of Chichester...
in Sussex
Sussex
Sussex , from the Old English Sūþsēaxe , is an historic county in South East England corresponding roughly in area to the ancient Kingdom of Sussex. It is bounded on the north by Surrey, east by Kent, south by the English Channel, and west by Hampshire, and is divided for local government into West...
.
Wealth and obscurity
Richard Thornton's wealth was remarkable. At his death in 1865, his estate of £2.8m was one of the largest ever recorded. That figure equalled .35% of the net national income of the day, or £3.9bn in 2007 terms, which makes him the 165 richest Briton since 1066. Yet, as the eminent historian W G Hoskins noted in his article for the magazine History TodayHistory Today
History Today is an illustrated history magazine. Published monthly in London since January 1951, it is the world's leading, and possibly oldest, history magazine. Its successful mission has always been to present serious and authoritative history to as wide a public as possible...
, his name means nothing today, even though in his lifetime his wealth rivalled that of the Rothschilds and the Barings.
Profiting from the Baltic blockade
Richard Thornton made part of his fortune as an indirect result of Napoleon's fatal and failed invasion of RussiaRussia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
. During this campaign the French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
army was stationed at Danzig from where it guarded every Baltic port. The Danish were strong supporters of Napoleon and their hostility to English trade was considerable: captains of Danish ships were threatened with death should they engage in any form of commerce with England. This made valuable and essential Baltic trade difficult and dangerous for English merchant ships.
In response Richard Thornton armed one of his own merchant ships, fought off a hostile Danish gunboat, and landed in the Baltic under an assumed German name. In the process he secured essential supplies of Baltic hemp for the Royal Navy
Royal Navy
The Royal Navy is the naval warfare service branch of the British Armed Forces. Founded in the 16th century, it is the oldest service branch and is known as the Senior Service...
at considerable profit to himself.
Richard Thornton's lucrative Baltic trade continued and two years later, in 1812, his brother Laurence was in the port of Memel, now known as Klaipėda
Klaipeda
Klaipėda is a city in Lithuania situated at the mouth of the Nemunas River where it flows into the Baltic Sea. It is the third largest city in Lithuania and the capital of Klaipėda County....
, when he heard of Napoleon's retreat from Moscow. He got word back to Richard in London so speedily that it was three days before the news reached any one else in the city, including members of the British Government. Realizing this, Richard Thornton went quickly about the city obtaining signatures on contracts for the forward delivery of Baltic goods. Since the contract prices were inflated by the blockade which had now been removed, his already sizable profits became significantly greater.
Richard Thornton's activities in the Baltic earned him the nickname “The Duke of Danzig”.
On 12 June 1827, Richard Thornton sold the paddle steamer "Quentin Durward" to
Kaptajnløtnant Lauritz Christensen, Copenhagen, who renamed her “Dania”. Since
he first used her on pleasure tours on the Sound, this makes her the first ever private steam yacht.