Theodore Janssen facts for kids
Sir Theodore Janssen (born in France in the 1650s, died 1748) was a very successful businessman and a member of the English Parliament. He became famous for his work in finance. However, he lost his good name and much of his money because of a big financial event called the South Sea Bubble.
Contents
Sir Theodore's Early Life
Sir Theodore Janssen was born in Angoulême, France, in the 1650s. His father, Abraham Janssen, made paper. His family had moved to France from the Netherlands to escape trouble there.
Moving to England
In 1680, Janssen moved to England and made his home in Wimbledon. He even bought the large Wimbledon manor. In 1685, he became an English citizen. Later, in 1698, King William III made him a knight.
In 1694, Sir Theodore helped start the Bank of England. He invested a lot of money, £10,000, and became one of its directors. He also wrote books about banks and trade, sharing his ideas on business.
Becoming a Baronet and MP
In 1715, the Prince of Wales (who later became King George II) asked that Sir Theodore be given a special title: a baronet. This happened shortly after George I became king. In 1717, Sir Theodore became a member of parliament for Yarmouth.
The South Sea Bubble Disaster
By 1720, Sir Theodore had become very rich, with a fortune of almost £250,000. He was also a director of the South Sea Company. This company was involved in a huge financial event called the South Sea Bubble. It was a time when many people invested in the company, hoping to get rich quickly.
However, the company's value suddenly crashed. This caused many people to lose all their money. Sir Theodore, along with other directors, was arrested. They had to explain their actions to the House of Commons. The Parliament decided that Sir Theodore and another director, Jacob Sawbridge, had broken the trust placed in them. They had caused great losses to many people and harmed the country's finances.
Because of this, Sir Theodore was not allowed to be a Member of Parliament or hold any public jobs again. Most of his money was taken to help pay back the people who had lost money. However, he was allowed to keep £50,000, which was more than most other directors got to keep.
Sir Theodore's Family
Sir Theodore married Williamza Henley in 1698. They had several children. His sons, Abraham, Henry, and Stephen, all inherited his baronet title one after the other. This happened because none of them had sons to pass the title to. His daughter Barbara married Governor Thomas Bladen. Another daughter, Mary, married Charles Calvert, 5th Baron Baltimore.
Sir Theodore's granddaughter, Williamsa Janssen, later married a politician named Lionel Damer in 1778.
Later Life and Legacy
After losing his manor in 1721, Sir Theodore continued to live quietly in Wimbledon. He lived near what is now Wimbledon Village High Street. He passed away in 1748 and was buried in the churchyard of St Mary's Church, Wimbledon.
Sir Theodore Janssen is also a character in a historical novel called Sea Change by Robert Goddard.
