In 1775 John and Francis Baring & Company was just one of many merchant houses in London riding the wave of expanding world trade. By 1803, Baring Brothers Bank and its Dutch associate had financed the Louisiana Purchase, a remarkable achievement due in no small part to the bank’s connections in particular with wealthy Philadelphia merchant and later senator William Bingham.
This book describes the events and relationships that established Barings as the world’s first merchant bank and how it played a major role in transforming the United States into an international superpower. Appendices examine the genealogy of the Baring, Bingham, and Willing families; the impact of these banking pioneers on English aristocracy; the life of Anne Willing Bingham; and information on locations featured in the book, among other topics.

David Tearle, a professional engineer and businessman, lives on England’s south Devon coast.

David Tearle
Format: softcover (6 x 9)
Pages: 248
Bibliographic Info: 33 photos, appendices, notes, bibliography, index
Copyright Date: 2010
pISBN: 978-0-7864-4437-3
Imprint: McFarland

Acknowledgments      v

Preface      1

1. Early Days in England      5

2. Early Days in Philadelphia      14

3. Trouble Brewing      23

4. City Tavern—The Eve of War      32

5. The Secret War—A Parisian in America      37

6. William Bingham’s Martinico Odyssey      41

7. Willing, Morris and Bingham, Supplying Washington’s Army      50

8. Benjamin Franklin, an American in Paris      62

9. Barings, Hopes and the Triple Alliance      68

10. Bingham Returns to Philadelphia      77

11. Mr. and Mrs. Bingham      82

12. The Grand Tour      90

13. New Country, New Constitution      101

14. Property Fever      112

15. Sir Francis Baring, Bart.      118

16. Bingham and Baring Strike a Deal      125

17. Barings and Bingham, American Consolidation      135

18. The Death of Anne Bingham and a Turning Point      144

19. The Louisiana Purchase      153

20. Finale, a Concluding Commentary      164

21. Epilogue      170

Appendix A—The Historical Value of Money      175

Appendix B—Genealogy      176

Appendix C—Heritage Locations      184

Appendix D—Anne Willing Bingham      187

Appendix E—Baring and Bingham’s Aristocracy      192

Appendix F—William Bingham and the Pilgrim Affair      194

Chapter Notes      197

Bibliography      229

Index      235