William Lowndes, Secretary of the Treasury
Encyclopedia
William Lowndes was Secretary to the Treasury
of Great Britain
under King William III
and Queen Anne
, and a Member of Parliament
under William, Anne and George I
.
Lowndes was born in Winslow
, Buckinghamshire
, the son of Robert Lowndes (1619–1683) and his second wife, Elizabeth FitzWilliam. Robert was descended from the Lowndes of Overton
in Cheshire
, but his grandfather, also Robert, had moved south to Buckinghamshire. Other relatives had settled in South Carolina
. Robert spent some years in Virginia
, where he had family, but returned to England before his death. The Lowndes were all descended from William, Seigneur de Lounde, who came to England
with William the Conqueror in 1066.
William was educated at the free school in Buckingham
, at Eton College
, and at the University of Oxford
. He joined HM Treasury
as a clerk. He was elected as a Member of Parliament
for Seaford
in Sussex
, a "limb" of the Cinque Ports
, in 1695.
Lowndes remained a Member of Parliament for many years, and served as chairman of the Committee of Ways and Means
, becoming known throughout Britain as "Ways and Means
Lowndes".
Lowndes also became Secretary to the Treasury in 1695. His Report containing an essay for the amendment of the silver coins, written during the crisis of 1695, was answered by John Locke
, whose views on the reform of the currency prevailed. He became wealthy as a result of holding office in the Treasury. In 1700, he built Winslow Hall
in Winslow
, Buckinghamshire
.
He originated the funded system and rose to great power and influence in Parliament. In recognition of his service, Queen Anne conferred upon him the office of Auditor of the Land Revenue for life, in reversion to his sons, with an augmentation to his coat of arms
.
He was elected as MP for St Mawes
in Cornwall
in the first Parliament of King George I
, but stood unsuccessfully for Westminster
in 1722. Shortly afterwards, he was elected for East Looe
, also in Cornwall, after that constituency was vacated by Horace Walpole when he decided to stand for Great Yarmouth
instead. Lowndes bought the freehold reversion
of leasehold property he owned in St. James's
and Knightsbridge
in 1723, in areas now known as Lowndes Square and Lowndes Street.
His death was announced in the House of Commons
by Walpole, saying "the House had lost a very useful Member, and the public as able and honest a servant as ever the Crown had".
Lowndes married four times:
Lowndes had children with each of his wives, 25 children in all. His offspring were also fruitful: one son had 16 children, including four sets of twins in four years; a grandson had 10 children. Charles Lowndes, a son by his fourth wife, became Secretary to the Treasury in the 1760s.
The expression "Take care of the pence, and the pounds will take care of themselves" is attributed to him.
Secretary to the Treasury
In the United Kingdom, there are several Secretaries to the Treasury, who are junior Treasury ministers nominally acting as secretaries to HM Treasury. The origins of the office are unclear, although it probably originated during Lord Burghley's tenure as Lord Treasurer in the 16th century. The...
of 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...
under 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...
and Queen Anne
Anne of Great Britain
Anne ascended the thrones of England, Scotland and Ireland on 8 March 1702. On 1 May 1707, under the Act of Union, two of her realms, England and Scotland, were united as a single sovereign state, the Kingdom of Great Britain.Anne's Catholic father, James II and VII, was deposed during the...
, and a 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,...
under William, Anne and 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....
.
Lowndes was born in Winslow
Winslow, Buckinghamshire
Winslow is a small market town and also a civil parish designated as a town council within Aylesbury Vale district in north Buckinghamshire. It has a population of about 4500....
, Buckinghamshire
Buckinghamshire
Buckinghamshire is a ceremonial and non-metropolitan home county in South East England. The county town is Aylesbury, the largest town in the ceremonial county is Milton Keynes and largest town in the non-metropolitan county is High Wycombe....
, the son of Robert Lowndes (1619–1683) and his second wife, Elizabeth FitzWilliam. Robert was descended from the Lowndes of Overton
Overton
-People:* Constantine Overton* David M. Overton* Doug Overton* Edward Overton, Jr. , United States representative from Pennsylvania* Elli Overton* Frank Overton* Guy Overton* Hall Overton* Iain Overton...
in Cheshire
Cheshire
Cheshire is a ceremonial county in North West England. Cheshire's county town is the city of Chester, although its largest town is Warrington. Other major towns include Widnes, Congleton, Crewe, Ellesmere Port, Runcorn, Macclesfield, Winsford, Northwich, and Wilmslow...
, but his grandfather, also Robert, had moved south to Buckinghamshire. Other relatives had settled in South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
. Robert spent some years in Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, where he had family, but returned to England before his death. The Lowndes were all descended from William, Seigneur de Lounde, who came to England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
with William the Conqueror in 1066.
William was educated at the free school in Buckingham
Buckingham
Buckingham is a town situated in north Buckinghamshire, England, close to the borders of Northamptonshire and Oxfordshire. The town has a population of 11,572 ,...
, at Eton College
Eton College
Eton College, often referred to simply as Eton, is a British independent school for boys aged 13 to 18. It was founded in 1440 by King Henry VI as "The King's College of Our Lady of Eton besides Wyndsor"....
, and at the University of Oxford
University of Oxford
The University of Oxford is a university located in Oxford, United Kingdom. It is the second-oldest surviving university in the world and the oldest in the English-speaking world. Although its exact date of foundation is unclear, there is evidence of teaching as far back as 1096...
. He joined HM Treasury
HM Treasury
HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy...
as a clerk. He was elected as a 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,...
for Seaford
Seaford (UK Parliament constituency)
The UK parliamentary constituency of Seaford was a Cinque Port constituency, similar to a parliamentary borough, in Seaford, East Sussex. A rotten borough, prone by size to undue influence by a patron, it was disenfranchised in the Reform Act of 1832...
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...
, a "limb" of the Cinque Ports
Cinque Ports
The Confederation of Cinque Ports is a historic series of coastal towns in Kent and Sussex. It was originally formed for military and trade purposes, but is now entirely ceremonial. It lies at the eastern end of the English Channel, where the crossing to the continent is narrowest...
, in 1695.
Lowndes remained a Member of Parliament for many years, and served as chairman of the Committee of Ways and Means
Committee of Ways and Means
The Committee of Ways and Means is a government body that is charged with reviewing and making recommendations for government budgets. The term "Ways and Means" originated with the English Parliament and refers to the provision of revenue to meet national expenditure requirements and to forward...
, becoming known throughout Britain as "Ways and Means
Committee of Ways and Means
The Committee of Ways and Means is a government body that is charged with reviewing and making recommendations for government budgets. The term "Ways and Means" originated with the English Parliament and refers to the provision of revenue to meet national expenditure requirements and to forward...
Lowndes".
Lowndes also became Secretary to the Treasury in 1695. His Report containing an essay for the amendment of the silver coins, written during the crisis of 1695, was answered by John Locke
John Locke
John Locke FRS , widely known as the Father of Liberalism, was an English philosopher and physician regarded as one of the most influential of Enlightenment thinkers. Considered one of the first of the British empiricists, following the tradition of Francis Bacon, he is equally important to social...
, whose views on the reform of the currency prevailed. He became wealthy as a result of holding office in the Treasury. In 1700, he built Winslow Hall
Winslow Hall
Winslow Hall is a country house, now in the centre of the small town of Winslow, Buckinghamshire, England, built in 1700; its site at the edge of the village was a common one for a house of the gentry, with a public front facing the high street and a garden front that still commanded in 2007...
in Winslow
Winslow, Buckinghamshire
Winslow is a small market town and also a civil parish designated as a town council within Aylesbury Vale district in north Buckinghamshire. It has a population of about 4500....
, Buckinghamshire
Buckinghamshire
Buckinghamshire is a ceremonial and non-metropolitan home county in South East England. The county town is Aylesbury, the largest town in the ceremonial county is Milton Keynes and largest town in the non-metropolitan county is High Wycombe....
.
He originated the funded system and rose to great power and influence in Parliament. In recognition of his service, Queen Anne conferred upon him the office of Auditor of the Land Revenue for life, in reversion to his sons, with an augmentation to his coat of arms
Coat of arms
A coat of arms is a unique heraldic design on a shield or escutcheon or on a surcoat or tabard used to cover and protect armour and to identify the wearer. Thus the term is often stated as "coat-armour", because it was anciently displayed on the front of a coat of cloth...
.
He was elected as MP for St Mawes
St Mawes (UK Parliament constituency)
St Mawes was a rotten borough in Cornwall. It returned two Members of Parliament ) to the House of Commons of England from 1562 to 1707, to the House of Commons of Great Britain from 1707 to 1800, and to the House of Commons of the United Kingdom until it was abolished by the Great Reform Act in...
in Cornwall
Cornwall
Cornwall is a unitary authority and ceremonial county of England, within the United Kingdom. It is bordered to the north and west by the Celtic Sea, to the south by the English Channel, and to the east by the county of Devon, over the River Tamar. Cornwall has a population of , and covers an area of...
in the first Parliament of King 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....
, but stood unsuccessfully for Westminster
Westminster (UK Parliament constituency)
Westminster was a parliamentary constituency in the Parliament of England to 1707, the Parliament of Great Britain 1707-1800 and the Parliament of the United Kingdom from 1801. It returned two members to 1885 and one thereafter....
in 1722. Shortly afterwards, he was elected for East Looe
East Looe (UK Parliament constituency)
East Looe was a parliamentary borough represented in the House of Commons of England from 1571 to 1707, in the House of Commons of Great Britain from 1797 to 1800, and finally in the House of Commons of the United Kingdom from 1801 until its abolition in 1832. It elected two Members of Parliament ...
, also in Cornwall, after that constituency was vacated by Horace Walpole when he decided to stand for Great Yarmouth
Great Yarmouth (UK Parliament constituency)
Great Yarmouth is a constituency represented in the House of Commons of the Parliament of the United Kingdom. It elects one Member of Parliament by the first past the post system of election....
instead. Lowndes bought the freehold reversion
Reversion
Reversion may refer to:*Reversion *Reversion *Reversion *Reversion *Series reversion, in mathematics*Reversion, in evolutionary biology...
of leasehold property he owned in St. James's
St. James's
St James's is an area of central London in the City of Westminster. It is bounded to the north by Piccadilly, to the west by Green Park, to the south by The Mall and St. James's Park and to the east by The Haymarket.-History:...
and Knightsbridge
Knightsbridge
Knightsbridge is a road which gives its name to an exclusive district lying to the west of central London. The road runs along the south side of Hyde Park, west from Hyde Park Corner, spanning the City of Westminster and the Royal Borough of Kensington and Chelsea...
in 1723, in areas now known as Lowndes Square and Lowndes Street.
His death was announced in the House of Commons
British House of Commons
The House of Commons is the lower house of the Parliament of the United Kingdom, which also comprises the Sovereign and the House of Lords . Both Commons and Lords meet in the Palace of Westminster. The Commons is a democratically elected body, consisting of 650 members , who are known as Members...
by Walpole, saying "the House had lost a very useful Member, and the public as able and honest a servant as ever the Crown had".
Lowndes married four times:
- Elizabeth Harsnett, daughter of Sir Roger Harsnett (she died in 1680)
- Jane Hopper in 1683 (she died in 1685)
- Elizabeth Martyn, daughter of Richard Martyn (she died 1689)
- Rebecca Shales, daughter of John Shales. Rebecca was a descendant of Henry Pole, 1st Baron MontaguHenry Pole, 1st Baron MontaguHenry Pole, 1st Baron Montagu , the only holder of the title Baron Montagu under its 1514 creation, was most famous as one of the peers in the trial of Anne Boleyn.-Life:...
, the eldest son of the Margaret Pole, 8th Countess of SalisburyMargaret Pole, 8th Countess of SalisburyMargaret Pole, Countess of Salisbury was an English peeress, one of two women in sixteenth-century England to be a peeress in her own right with no titled husband, the daughter of George of Clarence, the brother of King Edward IV and King Richard III...
; she was the daughter of George, Duke of Clarence, and so niece of King Edward IVEdward IV of EnglandEdward IV was King of England from 4 March 1461 until 3 October 1470, and again from 11 April 1471 until his death. He was the first Yorkist King of England...
.
Lowndes had children with each of his wives, 25 children in all. His offspring were also fruitful: one son had 16 children, including four sets of twins in four years; a grandson had 10 children. Charles Lowndes, a son by his fourth wife, became Secretary to the Treasury in the 1760s.
The expression "Take care of the pence, and the pounds will take care of themselves" is attributed to him.
External links
- Family tree
- The Lowndes Family -Distinguished Statesmen In England and America - Early Colonists to Southern Provinces, The Baltimore SunThe Baltimore SunThe Baltimore Sun is the U.S. state of Maryland’s largest general circulation daily newspaper and provides coverage of local and regional news, events, issues, people, and industries....
, September 15, 1907 - The Lowndes of Overton
- Lowndes heraldry (Arms)
- Full transcription of William Lowndes' will on Winslow History website