Richard Hoare (banker) facts for kids
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Sir Richard Hoare (born in 1648 – died on January 6, 1719) was an important person in British history. He started C. Hoare & Co, which is the oldest bank still open in the United Kingdom today.
Starting a Business
Richard Hoare grew up in London, near a place called Smithfield Market. His father was a horse-dealer. When Richard was about 17 years old, he started learning to be a goldsmith. A goldsmith is someone who works with gold, making jewelry or other valuable items.
After seven years of learning, in 1672, Richard became a full member of the Worshipful Company of Goldsmiths. This was an important group for people who worked with gold. On this date, he opened his own goldsmith business. It was located in Cheapside, London, at a place known by the sign of the Golden Bottle. Over time, this goldsmith business grew into the famous bank we know today as C. Hoare & Co.
A Life in Politics
Sir Richard Hoare was also involved in politics. He was part of a political group called the Tories.
In 1702, he was knighted by Queen Anne. This means he was given the title "Sir." Later that year, he tried to become the Sheriff of London but did not win. However, he did become an alderman in 1703. An alderman is a senior member of a city council.
He ran for Parliament several times to represent London. Parliament is where laws are made for the country. He was elected to Parliament in 1710 and again in 1713.
His biggest political role came in 1712 when he became the Lord Mayor of London. This is a very important job, like being the head of the city government. He had tried to become Lord Mayor in 1711 but finally succeeded in 1712.
Sir Richard Hoare stopped his public work in 1718 because he was not well. He passed away in 1719. There is a special monument to remember him in the church of St Dunstan-in-the-West in London.
His Family
Sir Richard Hoare married a woman named Susanna Austen. They had a very large family with 17 children! One of their children was Henry Hoare I, who also became a banker and continued the family business.
