Sir William Forbes, 6th Baronet facts for kids

Sir William Forbes by Joshua Reynolds

Sir William Forbes, 6th Baronet of Monymusk and Pitsligo (1739–1806), was an important Scottish banker. He was also known as a landlord who improved his lands, a kind person who helped others (a philanthropist), and a writer.

A Life of Banking and Helping Others

Sir William Forbes was born in Edinburgh, Scotland, on April 5, 1739. His father, also named William Forbes, was a lawyer. When William was only four years old, his father passed away, and his mother, Christian Forbes, raised him. They moved to Aberdeen for his education, and later to Edinburgh.

Starting a Career in Banking

In 1754, when he was 15, William Forbes began working as an apprentice at a well-known banking firm in Edinburgh called Messrs. Coutts. An apprenticeship is like a training period where you learn a job by working. He trained for four years and then worked as a clerk. After two more years, he became a partner in the business, meaning he owned a small part of it.

In 1763, a new partnership was formed, and Forbes became a key part of the banking firm. In 1770, he married Elizabeth Hay.

Leading a Successful Bank

The banking firm changed its name in 1773 to Forbes, Hunter, & Co. Sir William Forbes became the head of the company. He decided to focus only on banking. His bank became one of the most trusted in Scotland. It remained strong even during tough financial times in 1772, 1788, and 1793. In 1783, his firm started to print its own bank notes.

Forbes became an expert in finance, which is how money is managed. He helped create a new law about bankruptcy in 1783. Even the Prime Minister, William Pitt the Younger, asked for his advice. In 1799, Pitt offered him a special title (an Irish peerage), but Forbes politely said no. Later, in 1838, his company became part of the Union Bank of Scotland.

Improving Land and Communities

Sir William Forbes worked hard to get back some of the lands his family had lost. He bought parts of the Pitsligo estate and, in 1781, he gained ownership of the whole area. He made many improvements to the land and even helped plan the village of New Pitsligo in 1783.

He was also a co-founder of the Royal Society of Edinburgh in 1783, which is a group that promotes learning and science. Forbes was very involved in helping people in Edinburgh. He supported the High School, a hospital for people with mental health issues (Morningside Lunatic Asylum), and a school for the blind (Blind Asylum). He also helped build the South Bridge in Edinburgh.

In 1792, he was chosen as the Rector of Marischal College in Aberdeen, a position he held until 1794. In 1801, he had a new mansion built called Colinton House, which is now the main building of Merchiston Castle School.

Later Life and Legacy

Sir William Forbes chose not to become a member of parliament. He was part of a famous literary dining club called The Club, which included well-known writers like Samuel Johnson.

His wife, Lady Forbes, passed away in 1802. Sir William Forbes died in Edinburgh on November 12, 1806. He is buried in Greyfriars Kirkyard, a historic cemetery in Edinburgh. His grave was designed to be very secure because people were worried about grave robbing at the time.

Writings and Family

Sir William Forbes was also a writer. He had a long friendship with the poet James Beattie. After Beattie passed away, Forbes wrote a book about his life and writings, which was published in 1806. He also wrote a tribute to his mother, which was published later in 1875.

In 1803, he wrote a book called Memoirs of a Banking-House, sharing his experiences in the banking world.

His Children

Sir William Forbes and his wife, Elizabeth Hay, had thirteen children. Elizabeth was a talented singer.

Their children included:

• Sir William Forbes, 7th Baronet of Pitsligo (1773–1828)
• Christian Forbes (1775–1863), who married Sir Alexander Wood
• John Hay Forbes, Lord Medwyn (1776–1854)
• Rebecca Forbes (1779–1826), who married Alexander Ranaldson MacDonell of Glengarry
• Elizabeth Forbes (1781–1840), who married Colin Mackenzie of Portmore
• Jane Forbes (1787–1862), who married James Skene of Rubislaw
• George Forbes (1790–1857), who also became a banker

His grandchildren included James David Forbes and Sir John Stuart Hepburn Forbes.

Images for kids

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  Late Sir Will.m Forbes Bar.t - print made by John Kay (1806)

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  Sir William Forbes of Pitsligo, 6th Bt. by Thomas Lawrence (1803)