Jonathan Backhouse
Jonathan Backhouse (1779–1842), banker and financier
One of the promoters of the Stockton and Darlington Railway
1798 Following the death of Jonathan's father, the title of the family bank was changed to Jonathan Backhouse and Co. During the first three decades of the nineteenth century Backhouse proved to be the dominant partner in the bank; he presided over expansion which was to consolidate its position in the commercial infrastructure of Co. Durham. In 1805 a branch was opened at Durham and in the following year at Sunderland. In the mid-1820s the network was extended to Newcastle upon Tyne, South Shields, and Stockton-on-Tees. In conformity with the evolution of the banking system in the country as a whole at this time, the north-east of England was afflicted periodically by phases of instability in response to the overextension of credit. Local banking crises occurred in the late 1790s, in 1803, 1815, 1819, 1823, and 1825. Jonathan Backhouse & Co. weathered all of these vicissitudes without difficulty
1820s The bank was involved in the financing and projection of the Stockton and Darlington Railway
Backhouse was appointed as first treasurer to the railway company, a position which he held until 1833.
See Also
Sources of Information
- Biography of Jonathan Backhouse, ODNB