Online Encyclopedia

HENRY THORNTON (1760—1815)

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Originally appearing in Volume V26, Page 881 of the 1911 Encyclopedia Britannica.
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HENRY THORNTON (1760—1815)  ,
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English banker and economist, was born on the loth of March 1760 . In 1784 he became a member of the banking
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firm of Downie,
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Free & Thornton, with which he was associated till his
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death on the 16th of
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January 1815 . In 1783 he was elected member of parliament for
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Southwark, a constituency which he represented for the rest of his
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life . Although an indifferent
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speaker, he soon acquired a high reputation as an authority on
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financial matters . This reputation he confirmed by An Inquiry into the Nature and Effects of the Paper Currency of England (1802), defending the legislature in suspending
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cash payments . He strongly supported the income tax on its
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original imposition in 1798, but was in favour of a graduated
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system, and indeed paid. his own income tax " on the scale of his ideal, not his legal debt." He was one of the founders of the Sierra Leone
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Company (see SIERRA LEONE) and its chairman until the colony was taken over by the English government .

End of Article: HENRY THORNTON (1760—1815)
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