John Farquhar (gunpowder dealer) facts for kids
John Farquhar (1751–1826) was a very rich Scottish businessman. He made his money by dealing in gunpowder.
Contents
Early Life and Big Ideas
John Farquhar was born in 1751 to a simple family in a place called Bilbo, Scotland. When he was 15, he won a scholarship to study at Marischal College, Aberdeen. He studied there for four years and earned his master's degree.
After college, he moved to London. Then, he decided to seek his fortune in the East. He got a job on a ship heading to India as a helper to the doctor. Once in India, he found work at a trading company office in Barrackpore.
A Hobby Becomes a Business Skill
John Farquhar loved studying chemistry as a hobby. This skill turned out to be very useful for his business! Gunpowder was being made nearby, but it wasn't very good. General Cornwallis, who was in charge of Bengal, asked John to fix the problem.
John became the boss of the gunpowder factory. Eventually, he was the only person supplying gunpowder to the government. This made him very wealthy and important. He even became good friends with Warren Hastings, a powerful figure in India.
Life Back in England
In 1814, John Farquhar returned to England. He had a huge fortune, about £500,000! This money was invested by Hoare's Bank in government funds.
A Man of Simple Habits
Many stories were told about John Farquhar because he spent very little money on himself. People sometimes mistook him for a beggar on the street! For example, when he arrived back in England, he supposedly walked from Gravesend to London to save money on a coach. He arrived at his bank looking dusty and poorly dressed. The clerks almost made him wait, but Mr. Hoare recognized him.
John lived in Upper Baker Street in London. His house looked neglected, and he only had one old woman helping him. Even though he was very careful with his own money, he loved going to auction sales and bidding on items. Despite his unusual habits, people found him friendly and pleasant.
Generosity and Investments
Even with his simple personal habits, John Farquhar was very generous with his money. He gave large amounts to charity. He also became a partner in a business called Basset, Farquhar, & Co. and bought a share in the Whitbread brewery.
As his wealth grew, he bought several estates. However, he invested most of his money. In 1822, he bought Fonthill Abbey from William Thomas Beckford for £330,000. He sometimes lived there until the tower of the abbey fell down in December 1825. Soon after, he sold the estate.
Beyond Business
Besides his knowledge of chemistry, John Farquhar was also very good at classical studies. He was also excellent at mathematics and mechanics. He admired the moral system of Hinduism. He wanted to use £100,000 to start a college in Aberdeen, but the plan didn't happen because it needed government approval.
Death and Legacy
John Farquhar died suddenly on July 6, 1826. He passed away from a stroke. He was incredibly wealthy, with about £1.5 million! He didn't leave a will, so his fortune was divided among his seven nephews and nieces. He was buried in St John's Wood Church in London, where a monument by Peter Rouw was built in his memory.
