William Newmarch

William Newmarch (28 January 1820 – 23 March 1882) was an English banker, economist and statistician born at Thirsk, Yorkshire.

He took his schooling at York, and, as a young man, held posts as a clerk in that city He early showed his literary taste and talent by publishing a Guide to the City, by frequent correspondence with the "Sheffield Iris," and by the delivery of lectures. Having served as a clerk under a stamp distributor, he passed to the Yorkshire Fire and Life Office at York, then to the banking house of Messrs. Leatham, Few, and Co., at Wakefield (1843–1846). (Proceedings of the Royal Society of London)

He then moved to London and worked for three financial institutions:

the Agra Bank (1846–1851)
secretary to the Globe Insurance Company (1851–1862)
chief officer in the banking-house of Glyn, Mills & Co. (1862–1881)

Notwithstanding the continuous pressure of an active business life he found time to contribute many valuable articles to the magazines and newspapers, and took an active part in the proceedings of the Royal Statistical Society (of which he was one of the honorary secretaries, editor of its journal, and in President (1869–1871)) and the Political Economy Club. He was also elected a fellow of the Royal Society.

His extensive knowledge of banking was displayed in the evidence which he gave before the select committee on the Bank Acts in 1857. He collaborated with Thomas Tooke in the two final volumes of his History of Prices and was responsible for the greater part of the work in those volumes. For nineteen years he wrote a survey of the commercial history of the year in The Economist. He died at Torquay on 23 March 1882 and was buried at West Norwood Cemetery.

After his death his friends founded, in perpetuation of his memory, a Newmarch Lectureship in economic science and statistics at University College, London. Arthur Bowley, Josiah Stamp, and Udny Yule were amongst the distinguished Newmarch lecturers.

References

This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed. (1911). Encyclopædia Britannica (11th ed.). Cambridge University Press.

Obituaries

"The Death of Mr. William Newmarch" Journal of the Statistical Society of London, Vol. 45, No. 1. (Mar., 1882), pp. 115–121.
Obituary Notices of Fellows Deceased, Proceedings of the Royal Society of London, Vol. 34. (1882–1883), pp. xvii–xix.

Discussion

There is a section on Newmarch in

Paul J. FitzPatrick "Leading British Statisticians of the Nineteenth Century," Journal of the American Statistical Association, Vol. 55, No. 289. (Mar., 1960), pp. 38–70. Reprinted in Studies in the History of Statistics and Probability II Edited by M G Kendall and R L Plackett, London 1977.

External links

Royal Society citation

There is more information about Newmarch in the following AIM25 library record

NEWMARCH, William (1820–1882): papers

Newmarch is placed among the classical economists in the opening (and sample) chapter of the following

D. P. O'Brien The Classical Economists Revisited

Presidents of the Royal Statistical Society

19th Century	1834–1836 The Marquess of Lansdowne 1836–1838 Sir Charles Lemon, Bt 1838–1840 The Earl FitzWilliam 1840–1842 Viscount Sandon 1842–1843 The Marquess of Lansdowne 1843–1845 Lord Ashley 1845–1847 The Lord Monteagle of Brandon 1847–1849 The Earl FitzWilliam 1849–1851 The Earl of Harrowby 1851–1853 The Lord Overstone 1853–1855 The Earl FitzWilliam 1855–1857 The Earl of Harrowby 1857–1859 Lord Stanley 1859–1861 Lord John Russell 1861–1863 Sir John Pakington, Bt 1863–1865 William Henry Sykes 1865–1867 The Lord Houghton 1867–1869 William Ewart Gladstone 1869–1871 William Newmarch 1871–1873 William Farr 1873–1875 William Guy 1875–1877 James Heywood 1877–1879 George Shaw-Lefevre 1879–1880 Thomas Brassey 1880–1882 James Caird 1882–1884 Robert Giffen 1884–1886 Rawson W. Rawson 1886–1888 George Goschen 1888–1890 Thomas Graham Balfour 1890–1892 Frederic J. Mouat 1892–1894 Charles Booth 1894–1896 The Lord Farrer 1896–1897 John Biddulph Martin 1897 Alfred Edmund Bateman 1897–1899 Leonard Courtney 1899–1900 Henry Fowler 1900–1902 The Lord Avebury

20th Century	1902–1904 Patrick George Craigie 1904–1905 Sir Francis Powell, Bt 1905–1906 The Earl of Onslow 1906–1907 Richard Martin 1907–1909 Sir Charles Dilke, Bt 1909–1910 Jervoise Athelstane Baines 1910–1912 Lord George Hamilton 1912–1914 Francis Ysidro Edgeworth 1914–1915 The Lord Welby 1915–1916 Lord George Hamilton 1916–1918 Bernard Mallet, Registrar General 1918–1920 Herbert Samuel 1920–1922 R. Henry Rew 1922–1924 The Lord Emmott 1924–1926 Udny Yule 1926–1928 The Viscount D'Abernon 1928–1930 A. William Flux 1930–1932 Sir Josiah Stamp 1932–1934 The Lord Meston 1934–1936 Major Greenwood 1936–1938 The Lord Kennet 1938–1940 Arthur Lyon Bowley 1940–1941 Henry William Macrosty 1941 Hector Leak 1941–1943 William Beveridge 1943–1945 Charles Ernest Snow 1945–1947 The Lord Woolton 1947–1949 David Heron 1949–1950 Sir Geoffrey Heyworth 1950–1952 Austin Bradford Hill 1952–1954 Ronald Fisher 1954–1955 The Lord Piercy 1955–1957 Egon Pearson 1957–1959 Harry Campion 1959–1960 Hugh Beaver 1960–1962 Maurice Kendall 1962–1964 Joseph Oscar Irwin 1964–1965 Sir Paul Chambers 1965–1966 L. H. C. Tippett 1966–1967 M. S. Bartlett 1967–1968 Frank Yates 1968–1969 Arthur Cockfield 1969–1970 R. G. D. Allen 1970–1971 Bernard Benjamin 1971–1972 George Alfred Barnard 1972–1973 Harold Wilson 1973–1974 D. J. Finney 1974–1975 Henry Daniels 1975–1977 Stella Cunliffe 1977–1978 Henry Wynn 1978–1980 Sir Claus Moser 1980–1982 David Cox 1982–1984 Peter Armitage 1984–1985 Walter Bodmer 1985–1986 John Nelder 1986–1987 James Durbin 1987–1989 John Kingman 1989–1991 Peter G. Moore 1991–1993 T. M. F. Smith 1993–1995 D. J. Bartholomew 1995–1997 Adrian Smith 1997–1999 R. N. Curnow 1999–2001 Denise Lievesley

21st Century	2001–2003 Peter Green 2003–2005 Andy Grieve 2005–2007 Tim Holt 2008–2009 David Hand 2010–2010 Bernard Silverman (resigned Feb 2010; replaced pro tem by David Hand) 2011–2012 Valerie Isham 2013–John Pullinger

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