Francis Child (died 1713) facts for kids
Sir Francis Child (born 1642, died 1713) was an important English banker and politician. He lived in Fulham, near London. He was known for building up a successful goldsmith business. This business later became one of the first banks in London, called Child & Co.
Sir Francis Child also served as the Lord Mayor of London from 1698 to 1699. He was a member of the English and British House of Commons for many years.
Contents
Early Life and Training
Francis Child was born in 1642 in Heddington, a town in Wiltshire. His father, Robert Child, was a clothier, which means he made or sold cloth.
When Francis was young, he moved to London. In 1656, he started an apprenticeship with William Hall, a goldsmith. An apprentice learns a trade by working for an expert. Francis worked for eight years.
After his apprenticeship, in 1664, he became a free member of the Goldsmiths' Company. This was an important group for goldsmiths. He also became a freeman of the City of London.
How Child's Bank Started
The Wheeler Family and the Marygold
The bank known as Child & Co. began with a family of goldsmiths named Wheeler. They had been in business for a long time. One of them, William Wheeler, moved his shop to a place called the Marygold. This building was next to Temple Bar in London.
In 1671, Francis Child married Elizabeth Wheeler. She was the sister of the younger William Wheeler. Elizabeth's father, the elder William Wheeler, had passed away earlier.
His widow married Robert Blanchard, who took over the Marygold business. Francis Child joined Blanchard as a partner, probably around the time he got married.
From Goldsmiths to Bankers
In 1677, the names 'Blanchard and Child at the Marygold' were listed among goldsmiths who "keep running cashes." This meant they held money for people, like a bank.
When Robert Blanchard died in 1681, Francis Child took over the business. He also inherited money from the Wheeler family. The firm then became "Francis Child and John Rogers."
Sir Francis Child was one of the first bankers to focus only on banking, rather than also being a goldsmith. People called him "the father of the profession." Before 1690, their old record books showed both goldsmith and banking deals.
The Marygold Sign
The sign of the Marygold can still be seen today. It is a watermark on the bank's cheques. The original sign is also kept at the bank. It is made of oak and shows a Marygold flower with the sun. Its motto is 'Ainsi mon ame,' which means 'Thus my soul.'
Famous Customers and Temple Bar
The bank bought a nearby building called The Devil tavern in 1787. This tavern was famous for meetings of Ben Jonson's club. Child & Co. still owns some items from the club, like a board with the club's rules.
Many famous people were customers of the bank. These included Oliver Cromwell, Nell Gwyn, and Archbishop Tenison.
For many years, Child & Co. rented the room above Temple Bar. They stored their old record books there. The bank often let the Lord Mayor use their building for important events at Temple Bar.
Sir Francis Child's Political Life
Early Steps in London Politics
In 1681, Francis Child was elected to the court of common council. This was a local government group in London. He represented the Farringdon Without area.
He was also chosen to receive money for important projects. For example, he collected money for a lottery of Prince Rupert's jewels. He also collected funds to help restore St Albans Abbey.
Becoming a Knight and Alderman
In October 1689, Francis Child became an alderman for Farringdon Without. An alderman is a senior member of a city council. Soon after, King William III knighted him at a special dinner. From then on, he was known as Sir Francis Child.
Sir Francis was a Whig, which was a political party at the time. He became a leader of the Whigs in London's government.
Member of Parliament and Lord Mayor
Sir Francis Child first tried to become a Member of Parliament (MP) for Devizes in 1695 but did not win. However, in 1698, he was elected MP for Devizes without anyone running against him.
On September 29, 1698, he was elected Lord Mayor of London for the next year. His inauguration was a very grand event. A special show was put on by the Goldsmiths' Company. Many important people, including ambassadors, came to see the procession.
During his time as Lord Mayor, he worked to control the price of corn. He also made sure officers checked prices daily to prevent people from being cheated.
Later Political Career
Sir Francis Child was a wealthy man. He often lent large sums of money to the government. For example, in 1692, he helped lend £50,000 to the Crown for the government of Ireland.
He continued to be involved in politics. He was elected MP for Devizes again in 1701 and 1702. In 1702, he was elected for both Devizes and the City of London, and he chose to represent London. He was also the master of the Goldsmiths' Company in 1702.
He continued to serve as an MP for Devizes in 1705 and again from 1710 until his death.
Later Life and Legacy
Sir Francis Child was very generous to Christ's Hospital, a famous school. In 1705, he paid to rebuild a part of the school. His portrait hangs in the school's hall. Another portrait of him, painted in his Lord Mayor's robes, is at Osterley Park.
He lived in a large house called East End House in Fulham. Around 1711, he bought Osterley Park, which became a family home.
Sir Francis Child passed away on October 4, 1713. He was buried in Fulham churchyard.
His Family
Lady Child, his wife, died a few years after him. She was also buried in Fulham.
Sir Francis Child had twelve sons and three daughters. His sons, Robert Child and Francis Child, took over the bank and his role as alderman. Both of them were later knighted.
His daughter Elizabeth married Tyringham Backwell. Two of their sons, Barnaby and William, later became partners in Child's bank.
