Sir William Brown, 1st Baronet, of Astrop
Encyclopedia
Sir William Brown, 1st Baronet (30 May 1784 – 3 March 1864) was a British
merchant
and banker, founder of the banking-house of Brown, Shipley & Co.
and a Liberal
politician who sat in the House of Commons from 1846 to 1859.
Brown was born at Ballymena
, Ireland
, the son of Alexander Brown (1764–1834), an Irish
linen
-merchant who established in Baltimore, Maryland, United States
, the family business of Alex. Brown & Sons
, which became one of the leading investment banks of the U.S. in the nineteenth century. He was sent with his brothers, George (1787–1859), John (1788–1852), and James (1791–1877), to be educated at the school of the Revd J. Bradley in Catterick, North Yorkshire
. In 1800, at the age of sixteen, William Brown accompanied his father and brothers, George
, John, and James to Baltimore. In 1809 Brown left America for Liverpool
. Here he established a branch of the firm, which had now begun to deal largely in raw cotton
as well as linen and soon afterwards developed into one of general merchants and finally bankers. Brown became one of the leaders in Liverpool commerce, and in 1832 took a principal share in the reform of the system of dock
-management then in vogue at that port.
When the financial crisis of 1837
seriously threatened the firm, Brown persuaded the Bank of England
to advance him £2,000,000 to tide matters over in view of the firm's multiple interests. Brown only needed half the amount, which he repaid within six months. His business, both mercantile and banking, continued to increase, and in 1844 he was held one sixth of the trade between Great Britain
and the United States
. "There is hardly," declared Richard Cobden
at this period, "a wind that blows, or a tide that flows in the Mersey
, that does not bring a ship freighted with cotton or some other costly commodity for Mr Brown's house."
In 1846, Brown was elected Liberal
M.P.
for South Lancashire
, and held the seat until 1859. In 1856 friction arose between the British and American governments because British consuls were enlisting recruits for the Crimean War
, but this was largely allayed by Brown, who in an interview with Lord Palmerston, then prime-minister, explained the objections taken in America.
In 1860 Brown presented Liverpool with a public library
and museum
, the William Brown Library and Museum
. In 1863 he was selected as High Sheriff of Lancashire
and made a baronet
.
Brown died at Liverpool at the age of 79.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
and banker, founder of the banking-house of Brown, Shipley & Co.
Brown, Shipley & Co.
Brown, Shipley & Co. is a long-established British private bank, based in London.It provides investment management, pensions and associated advisory services for private, institutional and corporate clients.-History:...
and a Liberal
Liberal Party (UK)
The Liberal Party was one of the two major political parties of the United Kingdom during the 19th and early 20th centuries. It was a third party of negligible importance throughout the latter half of the 20th Century, before merging with the Social Democratic Party in 1988 to form the present day...
politician who sat in the House of Commons from 1846 to 1859.
Brown was born at Ballymena
Ballymena
Ballymena is a large town in County Antrim, Northern Ireland and the seat of Ballymena Borough Council. Ballymena had a population of 28,717 people in the 2001 Census....
, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
, the son of Alexander Brown (1764–1834), an Irish
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
linen
Linen
Linen is a textile made from the fibers of the flax plant, Linum usitatissimum. Linen is labor-intensive to manufacture, but when it is made into garments, it is valued for its exceptional coolness and freshness in hot weather....
-merchant who established in Baltimore, Maryland, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, the family business of Alex. Brown & Sons
Alex. Brown & Sons
Alex. Brown & Sons was the first investment bank in the United States, founded by Alexander Brown in 1800 and based in Baltimore, Maryland. The firm was acquired by Bankers Trust in 1997 to form BT Alex...
, which became one of the leading investment banks of the U.S. in the nineteenth century. He was sent with his brothers, George (1787–1859), John (1788–1852), and James (1791–1877), to be educated at the school of the Revd J. Bradley in Catterick, North Yorkshire
Catterick, North Yorkshire
Catterick , sometimes Catterick Village, to distinguish it from the nearby Catterick Garrison, is a village and civil parish in the Richmondshire district of North Yorkshire, England...
. In 1800, at the age of sixteen, William Brown accompanied his father and brothers, George
George Brown (Financier)
George Brown was an Irish-American investment banker and railroad entrepreneur. He emigrated from Ulster to Baltimore, Maryland, at the age of 15 in 1802....
, John, and James to Baltimore. In 1809 Brown left America for Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
. Here he established a branch of the firm, which had now begun to deal largely in raw cotton
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
as well as linen and soon afterwards developed into one of general merchants and finally bankers. Brown became one of the leaders in Liverpool commerce, and in 1832 took a principal share in the reform of the system of dock
Dock (maritime)
A dock is a human-made structure or group of structures involved in the handling of boats or ships, usually on or close to a shore.However, the exact meaning varies among different variants of the English language...
-management then in vogue at that port.
When the financial crisis of 1837
Panic of 1837
The Panic of 1837 was a financial crisis or market correction in the United States built on a speculative fever. The end of the Second Bank of the United States had produced a period of runaway inflation, but on May 10, 1837 in New York City, every bank began to accept payment only in specie ,...
seriously threatened the firm, Brown persuaded 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...
to advance him £2,000,000 to tide matters over in view of the firm's multiple interests. Brown only needed half the amount, which he repaid within six months. His business, both mercantile and banking, continued to increase, and in 1844 he was held one sixth of the trade between Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. "There is hardly," declared Richard Cobden
Richard Cobden
Richard Cobden was a British manufacturer and Radical and Liberal statesman, associated with John Bright in the formation of the Anti-Corn Law League as well as with the Cobden-Chevalier Treaty...
at this period, "a wind that blows, or a tide that flows in the Mersey
Mersey
Mersey may refer to:* River Mersey, in northwest England* Mersea Island, off the coast of Essex in England * Mersey River in the Australian state* Electoral division of Mersey in the state of Tasmania, Australian...
, that does not bring a ship freighted with cotton or some other costly commodity for Mr Brown's house."
In 1846, Brown was elected Liberal
Liberal Party (UK)
The Liberal Party was one of the two major political parties of the United Kingdom during the 19th and early 20th centuries. It was a third party of negligible importance throughout the latter half of the 20th Century, before merging with the Social Democratic Party in 1988 to form the present day...
M.P.
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,...
for South Lancashire
South Lancashire (UK Parliament constituency)
South Lancashire, formally called the Southern Division of Lancashire or Lancashire Southern, is a former county constituency in England...
, and held the seat until 1859. In 1856 friction arose between the British and American governments because British consuls were enlisting recruits for the Crimean War
Crimean War
The Crimean War was a conflict fought between the Russian Empire and an alliance of the French Empire, the British Empire, the Ottoman Empire, and the Kingdom of Sardinia. The war was part of a long-running contest between the major European powers for influence over territories of the declining...
, but this was largely allayed by Brown, who in an interview with Lord Palmerston, then prime-minister, explained the objections taken in America.
In 1860 Brown presented Liverpool with a public library
Public library
A public library is a library that is accessible by the public and is generally funded from public sources and operated by civil servants. There are five fundamental characteristics shared by public libraries...
and museum
Museum
A museum is an institution that cares for a collection of artifacts and other objects of scientific, artistic, cultural, or historical importance and makes them available for public viewing through exhibits that may be permanent or temporary. Most large museums are located in major cities...
, the William Brown Library and Museum
William Brown Library and Museum
The William Brown Library and Museum is a Grade II* listed building situated on the historic William Brown Street in Liverpool, England. The building currently houses part of the World Museum Liverpool and Liverpool Central Library....
. In 1863 he was selected as High Sheriff of Lancashire
High Sheriff of Lancashire
The High Sheriff of Lancashire is an ancient officer, now largely ceremonial, granted to Lancashire, a county in North West England. High Shrievalties are the oldest secular titles under the Crown, in England and Wales...
and made a baronet
Brown Baronets
There have been six Baronetcies created for persons with the surname Brown , one in the Baronetage of Nova Scotia, one in the Baronetage of England, two in the Baronetage of Great Britain and two in the Baronetage of the United Kingdom...
.
Brown died at Liverpool at the age of 79.