Sir Theodore Janssen, 1st Baronet
Encyclopedia
Sir Theodore Janssen of Wimbledon, 1st Baronet (c. 1658 – 22 September 1748) was a Dutch
-born English financier and Member of Parliament
who after a long and successful career in commerce was ruined and disgraced by his part in the South Sea Bubble.
. He was naturalised as an English subject in 1685, and later knighted by King William III
. In 1694 he was a founder-member of the Bank of England
, investing £10,000 and becoming a director. In 1697 he published a pamphlet A Discourse concerning Banks, and in 1713 his treatise General Maxims of Trade.
At the particular request of the Prince of Wales
, he was created a baronet on 11 March 1715, shortly after the accession of George I
. He entered Parliament in 1717 at a by-election, as member for Yarmouth (Isle of Wight)
.
By 1720, Janssen had accumulated a fortune of almost quarter of a million pounds. However, among his business interests had been the South Sea Company, of which he was a director. On the collapse of the company he, together with the other directors, was arrested and summoned before the House of Commons to account for himself. After he and Jacob Sawbridge, the first two directors to be summoned, had been heard, a motion was proposed and passed unanimously that both "were guilty of a notorious Breach of Trust, as Directors of the SouthSea Company, and thereby occasion'd very great Loss to great Numbers of his Majesty's Subjects, and had highly prejudic'd the publick Credit". They were expelled from their membership of the Commons (as were the other directors subsequently), and their assets confiscated to make reparations to the investors ruined in the crash.
Janssen was almost certainly innocent of any deliberate wrongdoing, and this was recognised by the amount of his fortune that he was permitted to retain when the rest was taken to compensate investors - he was allowed to keep £50,000, a much-higher proportion than most of the other directors.
He was married to Williamza Henley and died in 1748. He was succeeded in the baronetcy by his son Abraham, who had also been a Member of Parliament at the time of his father's disgrace, but never sat again after the end of that Parliament. His daughter Barbara Janssen married Sir Thomas Bladen
and his daughter Mary Janssen married Charles Calvert, 5th Baron Baltimore
.
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
-born English financier and Member of Parliament
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
who after a long and successful career in commerce was ruined and disgraced by his part in the South Sea Bubble.
Life
Janssen was born in the Netherlands, but moved to England in 1680, making his home at WimbledonWimbledon, London
Wimbledon is a district in the south west area of London, England, located south of Wandsworth, and east of Kingston upon Thames. It is situated within Greater London. It is home to the Wimbledon Tennis Championships and New Wimbledon Theatre, and contains Wimbledon Common, one of the largest areas...
. He was naturalised as an English subject in 1685, and later knighted by King William III
William III of England
William III & II was a sovereign Prince of Orange of the House of Orange-Nassau by birth. From 1672 he governed as Stadtholder William III of Orange over Holland, Zeeland, Utrecht, Guelders, and Overijssel of the Dutch Republic. From 1689 he reigned as William III over England and Ireland...
. In 1694 he was a founder-member of the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
, investing £10,000 and becoming a director. In 1697 he published a pamphlet A Discourse concerning Banks, and in 1713 his treatise General Maxims of Trade.
At the particular request of the Prince of Wales
George II of Great Britain
George II was King of Great Britain and Ireland, Duke of Brunswick-Lüneburg and Archtreasurer and Prince-elector of the Holy Roman Empire from 11 June 1727 until his death.George was the last British monarch born outside Great Britain. He was born and brought up in Northern Germany...
, he was created a baronet on 11 March 1715, shortly after the accession of George I
George I of Great Britain
George I was King of Great Britain and Ireland from 1 August 1714 until his death, and ruler of the Duchy and Electorate of Brunswick-Lüneburg in the Holy Roman Empire from 1698....
. He entered Parliament in 1717 at a by-election, as member for Yarmouth (Isle of Wight)
Yarmouth (Isle of Wight) (UK Parliament constituency)
Yarmouth was a borough constituency of the House of Commons of England then of the House of Commons of Great Britain from 1707 to 1800 and of the House of Commons of the United Kingdom from 1801 to 1832...
.
By 1720, Janssen had accumulated a fortune of almost quarter of a million pounds. However, among his business interests had been the South Sea Company, of which he was a director. On the collapse of the company he, together with the other directors, was arrested and summoned before the House of Commons to account for himself. After he and Jacob Sawbridge, the first two directors to be summoned, had been heard, a motion was proposed and passed unanimously that both "were guilty of a notorious Breach of Trust, as Directors of the SouthSea Company, and thereby occasion'd very great Loss to great Numbers of his Majesty's Subjects, and had highly prejudic'd the publick Credit". They were expelled from their membership of the Commons (as were the other directors subsequently), and their assets confiscated to make reparations to the investors ruined in the crash.
Janssen was almost certainly innocent of any deliberate wrongdoing, and this was recognised by the amount of his fortune that he was permitted to retain when the rest was taken to compensate investors - he was allowed to keep £50,000, a much-higher proportion than most of the other directors.
He was married to Williamza Henley and died in 1748. He was succeeded in the baronetcy by his son Abraham, who had also been a Member of Parliament at the time of his father's disgrace, but never sat again after the end of that Parliament. His daughter Barbara Janssen married Sir Thomas Bladen
Thomas Bladen
Sir Thomas Bladen was a politician and colonial governor. He served as the 19th Proprietary Governor of Maryland from 1742 to 1747.-Early life and marriage:...
and his daughter Mary Janssen married Charles Calvert, 5th Baron Baltimore
Charles Calvert, 5th Baron Baltimore
Charles Calvert, 5th Baron Baltimore, 3rd Proprietor and 17th Proprietary Governor of Maryland, FRS was a British nobleman and Proprietary Governor of the Province of Maryland...
.