Sir Lawrence Dundas and Daughter, Zoffany, 1775 |
The Dundas family were one of Scotland's leading land owners but it fell on hard times during the failed Scottish rebellions: Head of the clan, William Dundas of Kincavel was imprisoned for his part in the 1715 Jacobite rebellion and many of the Dundas estates were forfeited to the British Crown after the 1745-1746 Jacobite rebellion.
Their humbler relatives were landless and urban living and working in trade and the newly emerging professions in Edinburgh. Lawrence Dundas the first of great Dundases was the younger son of landless branch of the family. His father,Thomas owned a drapery shop and woollen business in the Luckenbooths, a range of tenements which formerly stood immediately to the north of St. Giles' Kirk in the High Street of Edinburgh.
Sir Lawrence Dundas |
Lawrence left his father's business and set up in as a merchant contractor and with his friend James Masterton, he obtained contracts to supplying the army of the Duke of Cumberland in the 1745 rebellion. Being successful with Cumberland further work came his way. His greatest money making opportunity came during the Seven Years War (1756-1763), when he secured even greater contracts to supply the armies of the anti-French allies in Europe and Canada. It was not all plain sailing though. He ran into trouble with Thomas Orby Hunter, the commissaries of control, and Prince Ferdinand of Brunswick-Lüneburg the a German-Prussian field marshal (1758–1766) who led the Anglo-German army in Western Germany. who, according to Prime Minister Walpole, threatened to hang him for late fulfilment.
James Boswell claimed Lawrence Dundas brought home, 'a couple of hundred thousand pounds’ from that war but some historians estimate actual figure was nearer to £2 million the equivalent of more than £200m in today's money which put him in the class of a billionaire today.
Having made one fortune Lawrence went into two others, both in the 18th century's growth industries - banking and canals. Dundas was a man who understood the future was in money not land. Banking in Scotland was dominated by two Edinburgh based institutions; the Bank of Scotland and what became The Royal Bank of Scotland. The two institutions were fierce rivals. Both had the power to issue bank notes but the The Bank of Scotland was deemed to be tainted by its past Jacobite inclinations so it is no surprise, given his support for the British, Lawrence Dundas invested heavily in its rival the Royal Bank of Scotland.
Route of the Forth and Clyde Canal |
Like Billionaires today who build themselves lavish houses in places like the Hamptons, Dundas set about building himself a few mansions. He built what Scottish writer Hugo Arnot described as "incomparably the handsomest townhouse we ever saw," in St. Andrew Square, Edinburgh. Designed by Sir William Chambers, it became the headquarters of the Royal Bank of Scotland in 1825.
Head Office of the Royal Bank of Scotland |
In 1754 he made his second attempt to gain a seat in Parliament. He lost but not before he had spent a fortune on bribes which was the 18th century way of currying favour with the electorate and he was disappointed again in 1761 election. Having failed to get a seat he turned to his friend Lord Shelburne for help. On 19 August 1762 Shelburne wrote to Henry Fox: ‘Dundas, the Nabob of the North, writes me to desire I’ll get him made a baronet.’ On 20 October Dundas duly received his baronetcy.
With his baronetcy in hand he made his move south but not without comment. He bought the Aske Estate, near Richmond in North Yorkshire in 1763 from Lord Holderness for £45,000 and proceeded to enlarge and remodel it in Palladian taste by the premier Yorkshire architect, John Carr, who also designed new stables for him.
Aske Estate |
East India House, Leadenhall Street, 1800 |
But as the 1770s progressed Sir Lawrence's star was dimming. His new rival came not from the aristocracy but from a distant family connection Henry Dundas, with whom Sir Lawrence's family had long been on bad terms.
Henry Dundas |
Henry rose quickly through the Scottish legal system and became a Member of Parliament in 1774. The two men were arch enemies. Henry was more than a match for the older man when it came to politics.After holding subordinate offices under William Petty, 2nd Earl of Shelburne and William Pitt the Younger, he entered the cabinet in 1791 as Secretary of State for the Home Department where he successfully held back the abolition of slavery arguing the country made too much money out of it to give it up in a time of war.
Always viewed as an outsider, and as a man more interested in himself than King and country, Sir Lawrence's influence waned. He never received the peerage he felt he deserved for his support to the King neither did he manage to maintain his family's political position. He died on 21 September 1781, leaving an estate worth £16,000 p.a. and a fortune of £900,000 in personal and landed property. His son Thomas was elevated to the peerage as Baron Dundas of Aske in August 1794, and was also Lord Lieutenant and Vice Admiral of Orkney and Shetland. In 1892, the family gained the title Marquis of Zetland.
Henry Dundas went onto to be Prime Minister Pitt's fixer and War Secretary at the outbreak of the Napoleonic Wars. In 1802 he was elevated to the Peerage as Viscount Melville and Baron Dunira and in 1804 he became First Lord of the Admiralty. He introduced a number of improvements there but questions were asked about his financial management of the department which resulted an impeachment trial for the misappropriation of public funds.
Henry Dundas was an accomplished politician and scourge of the Radicals, his deft and almost total control of Scottish politics through the 1790 when no monarch visited the country, led to him being pejoratively nicknamed King Harry the Ninth, the "Grand Manager of Scotland" a play on the masonic office of Grand Master of Scotland, or the "Great Tyrant" and "The Uncrowned King of Scotland." Indeed by 1790 Dundas was in Pitt’s own word the ‘indispensable’ coadjutor of his ministry and the prime minister’s friend par excellence. His hold over Pitt seemed to many observers unaccountable: but, "Dundas brought to market qualities rarely combined in the same individual. Conviviality at table: manners frank and open and inspiring confidence: eloquence bold, flowing, energetic and always at command: principles accommodating, suited to every variation in government, and unencumbered with modesty or fastidious delicacy."(1)
Melville Monument |
Henry is commemorated by one of the most prominent memorials in Edinburgh, the 150-foot high, Melville Monument at St Andrew Square, which stands looking down on the house of his rival Lawrence. The house is now the headquarters of The Royal Bank of Scotland.
In 2008, the UK Treasury had to inject £37 billion ($64 billion, €47 billion, equivalent to £617 per citizen of the UK) of new capital into Royal Bank of Scotland Group plc, Lloyds TSB and HBOS plc, to avert financial sector collapse.
SourcesIn 2008, the UK Treasury had to inject £37 billion ($64 billion, €47 billion, equivalent to £617 per citizen of the UK) of new capital into Royal Bank of Scotland Group plc, Lloyds TSB and HBOS plc, to avert financial sector collapse.
http://www.historyofparliamentonline.org/volume/1790-1820/member/dundas-henry-1742-1811
http://www.historyofparliamentonline.org/volume/1754-1790/member/dundas-sir-lawrence-1710-81
(1)W. L. Clements Lib. Pitt letters, Pitt to Dundas, 22 July [1790]; Wraxall Mems. ed. Wheatley, i. 266.
https://en.wikipedia.org/wiki/Henry_Dundas,_1st_Viscount_Melville
https://en.wikipedia.org/wiki/Sir_Lawrence_Dundas,_1st_Baronet
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