Baillie was the eldest son of Evan Baillie of Dochfour and his wife Mary Gurley, daughter of Peter Gurley of St. Vincent. His father was a landowner in Scotland with commercial interests in Bristol including the firm of Evan Baillie, Sons & Co. He was sent to France to compete education in July 1788. He joined his father in Bristol in the West India mercantile house and ran the business during his father's absence. He was an ensign in the Royal Bristol Volunteers in 1797 and captain in 1803. In 1806 became a partner in Bristol Old Bank.
In 1807 Baillie became Member of Parliament (MP) for Inverness Burghs. While his political intentions were unclear he declared a "fixed intention to give warm independent support to the Portland ministry". However he suffered illness and was unable to partake fully in parliamentary business. In May 1811 he made voyages to Ireland and Madeira for his health but died in September at the age of 40.
- Joseph Gaston Baillie Bulloch. A history and genealogy of the family of Baillie of Dunain, Dochfour and Lamington : with a short sketch of the family of McIntosh, Bulloch, and other families.
- R. G. Thorne The House of Commons, 1790-1820, Volume 1
- Leigh Rayment Commons constituencies beginning with I
- Hansard 1803–2005: contributions in Parliament by Peter Baillie
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