Sir John Reid, 2nd Baronet facts for kids

Sir John Rae Reid (1791–1867) was an important Scottish businessman and banker. He was also a politician who belonged to the Tory and Conservative parties. He served in the House of Commons, which is a main part of the British Parliament, from 1830 to 1847.

Early Life and Family

John Rae Reid was born in 1791. His father was Sir Thomas Reid, and his mother was Elizabeth Goodfellow. When his father passed away in 1824, John Rae Reid became the 2nd Baronet. A baronet is a special title in Britain, like a knight, but it can be passed down in the family.

Being a Politician

Sir John Rae Reid was a Member of Parliament, often called an MP. This means he was elected to represent the people of a certain area in the British Parliament. He represented the town of Dover in Kent. He was an MP from 1830 to 1831 and again from 1832 to 1847.

His Business Career

Sir John Rae Reid was a very successful businessman. He was the leader of a company called Reid, Irving & Co. He also worked for the Bank of England, which is the central bank of the United Kingdom. He was a Director there from 1820 to 1847. For a short time, he was even the Deputy Governor (1837 to 1839) and then the Governor (1839 to 1841). The Governor is the head of the Bank of England.

Connection to Slavery

Sadly, like many wealthy people and businesses in his time, Sir John Rae Reid was involved in the slave trade. Research by the Legacies of British Slave-Ownership at University College London shows this.

After slavery was ended in British colonies by the Slavery Abolition Act 1833, slave owners were paid money as "compensation." Sir John Rae Reid received over £62,000 in compensation. This was because he owned more than 3,000 enslaved people in places like British Guiana, Jamaica, St Kitts, Trinidad, and the British Virgin Islands. This amount of money was worth a lot more back then than it is today.

In June 2020, the Bank of England officially apologized for the involvement of some of its past leaders, including Sir John Rae Reid, in the slave trade.

Family Life

Sir John Rae Reid was married to Maria Louisa. She was the daughter of Richard Eaton. They had two sons and one daughter together.