The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1871-07-23

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hardly dozen banks in 1850; in 1888 there
were more than four hundred, and now
there are about eleven hundred. The his
tories of some of these establishments aptly
illustrate the general rise of banking. AL
most the oldest was the bank in Gloucester,
founded in l7l6 by James Wood, q chandler
and grocer, who added money holding and
money lending to his trade in soap and
sugar. AT one counter Of his shop the re-
tail business was carried on, and at another
the banking was attended to and both
throve SO we'll that his grandson, the noto-
rious miser, Jenny Wood, who died in
1886, was worth more than ! ,OOO, 900. Most
of that fortune was wasted in litigation
among his kinsmen, and the bank, passing
into the hands of company, throve all the
better without him. In like manner the
London house of Smith, Payne and Smith
owes it's origin to the enterprise Of Not
tingham draper, who early in the eighteenth
century began to serve himself and his
customers by holding for them their gains,
to be prudently invested, and returned
with interest when they asked for it. 81
will take care of your money" the elder
neighb0rhood, and will also keep an ac-
count of your market transactions, and you
can draw your cash, or get goods from me
whenever you like" In that way he did
good service to his neighbors, and, in the
end. closing his Diapers shop, amassed
"uCA Wc6lGH Dc u uaUh0T. I1lB son carried
on the business in N Nottingham and extend
ed it to Lincoln and Hull, where the es.
still exist. His grandson
found shrewd London partner in Mr..
Payne, and with him founded the central
bank in Lombard street, now with few ri
walls in the skill and greatness of it's opera
tions. Another house, that of James Lloyd
g. Co., lately merged into the London and
Westminster Bank, had a kindred origin.
Old Jones was q thriving man of business
in Manchester, adding trade in money to
his trade in cotton and wooden goods. Mr..
Lewis Boyd was dissenting minister who
fell in love with and secretly married the
afterwards, to make peace with his father
in-law, left the pulpit for the counting
house. The business in Manchester be-
came great, and when Mr.. Lloyd brought
it to London it soon assumed vast proper
tions. The son ofLewis Lloyd, the dissent
Other great banks arose in Manchester,
Liverpool, and the neighboring towns, in
ways akin to that followed by Jones, Lloyd
q Co., some of them ultimately planting
themselves in London, and making it the |
busy centre of network Of monetary
trade extending all over the kingdom. Half
a dozen rich banking houses aud two OF
three peerages have grown out of the enter
prise of the brothers Haywood, who began
as Liverpool merchants more than a century
ago and of their family connections, the
Mines and the Pembertons. One ally of
some of the Heywoods was Joseph Denison,
born at Leeds in 1726. His parents, it is said,
were too poor to send him to school, but he
taught himself to read and write; and
having too much ambition to be satisfied
with an errand boys work in Leeds, made
his way to London with carriers wag-
gon, Sometimes riding and sometimes
trudging by the horses side. In London
he obtained a subordinate place in the
of John Dillon, merchant,
in st. Maryaze. There he worked up to
and at length john Dillon
failing, he began business himself, taking
his old master as his clerk. In 1775 the |
established in London. Here,
again, he steadily pushed himself int into the
senior partnership in the House of Denison.
aeywood, and Company, beside more than
William Joseph Denison, who died worth
something like s3,0Oo,ooo. His daughter,
also, had sufficient dowry to make her |
a fitting wife for marquis and the beg
gar-boy of Leeds became grandfather to |
the first Londesborough.