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William Newmarch, 1820-1882.

 

English banker, economist and statistician.  Born and educated in Yorkshire, William Newmarch worked as a clerk for a local stamp distributor, insurance company and bank, before moving to London in the 1840s to take a job at Agra Bank.  In 1851, he resigned from Agra to become secretary at the Globe Insurance Company and, in 1862,became chief officer of the Glyn, Mills & Co. Bank, where would remain thereafter. 

A free-trade activist, Newmarch was the author of the Merchants' Petition of 1820 and founder and leading organizer of the Political Economy Club of London, and contributed a 'Commercial History of the Year' column to The Economist and the Journal of the Statistical Society for twenty years (1863-82), reviewing the progress of trade. A liberal and member of the Reform Club, Newmarch authored one anonymous pamphlet (1859) in defense of Lord Derby's government.

Newmarch's articles on the new gold finds in California and Australia in the Morning Chronicle, were collected into this first treatise, 1853.  Newmarch was one of the main figures of the English " Banking School" during the Bullionist Controversy.  He rejected the Quantity Theory without actually developed a clear monetary theory of his own.

Newmarch was president of Section F of the BAAS in 1861, the first (non-noble) president of Statistical Society of London in 1869-71 (and long-time secretary and editor of its Journal). 

Newmarch assisted Thomas Tooke in the compilation of volume 5 & 6 of his magnum opus on historical price statistics .He was a member of the Tooke Memorial Committee which managed the Tooke professorship at Kings' College London from 1859. After his death, a subcription was raised for the Newmarch Lectureship in Economic Science and Statistics at University College London.

 

  


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Major Works of William Newmarch

 


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Resources on William Newmarch

 

 
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