Abraham Goldsmid

English financier and philanthropist; born in Holland in 1756 (?); died at Morden, near London, Sept. 28, 1810; third son of Aaron Goldsmid. About 1765 he went to England with his father, and soon entered into partnership with his brother, Benjamin Goldsmid, the two starting in business as bill-brokers about 1777. They afterward took a house in Capel street, and soon became successful bidders for the national loan. Itwas regarded on the Stock Exchange as an unprecedented event that men, till then scarcely known, should succeed in wresting the negotiation of government loans from the hands of the banking clique. This was the first step in their rise to eminence; and after having been very successful in negotiating several public loans, they acquired considerable wealth.

After the death of his brother Benjamin in 1808, Abraham continued the operations of the firm. In 1810 the house of Baring & Goldsmid contracted for the government loan of £14,000,000 ($70,000,000). Sir T. Baring, with whom the Goldsmids had been connected in business, died at this juncture; and his death added greatly to Goldsmid's many burdens, he having now to struggle alone. In addition, a powerful organization had been formed against the loan, and the resources of the two houses of Baring & Goldsmid combined were scarcely sufficient to combat it. The price of scrip fell daily, and the fortunes of Goldsmid fell with it. At the same time, the East India Company, which had placed in his hands for sale bills of exchange to the value of half a million, became alarmed, and claimed the price of its property. The payment was fixed for Sept. 28, 1810. Goldsmid was unprepared, and on the following morning he was found dead, with a pistol by his side.

(see image) Abraham Goldsmid.

The Goldsmid firm subsequently made great efforts to discharge their liabilities. By 1816 they had paid fully fifteen shillings on the pound; and in 1820 Parliament, on the petition of the creditors, annulled the remaining portion of the debts.

Bibliography: Dict. National Biography;

Gentleman's Magazine, lxxx.;

The Morning Chronicle, London. Sept. and Oct., 1810;

The Times, London, April 12 and 13, 1808;

European Magazine, lviii.;

The Morning Post, London, Oct. 9, 1810;

Young Israel, vol. i., No. 6;

Picciotto, Sketches of Anglo-Jewish History, pp. 252-254, 259, London, 1875;

Jew. World, March, 1878.

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http://www.jewishencyclopedia.com/articles/6765-goldsmid#anchor2

http://stenenarchief.org/genealogy/asser/494.htm

http://en.wikisource.org/wiki/Goldsmid,_Abraham_(DNB00)

Hyamson, Albert M. (1951-1952). An Anglo-Jewish Family. Transactions (Jewish Historical Society of England), Vol. 17, pp. 1-10, https://www.jstor.org/stable/pdf/29777888.pdf