16 July 1832|
|Died||26 June 1902
|Occupation||governor of the Bank of England|
|Known for||Panic of 1890|
|Spouse(s)||Mary Martha Busk|
After working for the Russian merchants Heath and Co, he joined the Liverpool merchant house of Rathbone Brothers, working in their New York City office from 1857 to 1863. He was made a partner in 1864, and went on to establish the firm's London office.
Lidderdale's period in office is notable for his handling of the Barings crisis, cause of the 'Panic of 1890'. Barings became over-extended in underwriting Argentine debt, the value of which strongly declined following political unrest in Buenos Aires, and the recognition of the inefficient use of borrowed funds. Lidderdale organized a successful consortium to rescue the bank. In recognition, he was granted the Freedom of the City of London and was made a member of the British Privy Council.
He lived at Ascot Place at North Ascot in Winkfield, Berkshire. Lidderdale, who became a commissioner of the Patriotic Fund in 1893, and held (among other financial offices) the presidency of the council of the Corporation of Foreign Bondholders.
He married in 1868, Mary Martha, elder daughter of Wadsworth Dawson Busk of Winkfield. Berkshire (formerly of St. Petersburg), by his wife Elizabeth Thielcke. They had eight children, four sons and three daughters survived him.
This article incorporates text from a publication now in the public domain: Welsh, Charles (1912). "Lidderdale, William". In Lee, Sidney. Dictionary of National Biography, 1912 supplement. London: Smith, Elder & Co.
Mark Wilks Collet
|Governor of the Bank of England
1889 - 1892