The Baring Archive :: Interactive Exhibitions

Mrs Henry Baring and children by Sir Thomas Lawrence (1817)

Introduction

Barings Bank was at one time the oldest merchant bank in the City of London and has played an important role in the development of British and international finance from the late eighteenth to the late twentieth century. Barings played a significant role in major historic events, such as, financing the Louisiana Purchase.

This exhibition explores the history of Barings through the people depicted in The Baring Archive's historic portrait collection. The collection mostly comprises of eighteenth to twentieth century personal and business portraits, which were commissioned from the leading artists of the day. The portraits not only tell the story of the family, its business and its people but also the development of portraiture over that period.

Alexander Baring by Sir Thomas Lawrence. Copyright The Baring Archive Ltd 2018

Beginnings

The early portraits in The Baring Archive's collection depict some of the key personalities in the early years of the firm. Sir Francis Baring was one of three Baring Brothers who founded the firm on Christmas Day 1762. His son Alexander Baring followed him into the firm and was a key negotiator of the Louisiana Purchase in 1803. The collection also includes members of the Barings' extended family including Senator William Bingham and Francis' sister Elizabeth.

Sir Francis Baring by Benjamin West (1804)
Elizabeth Baring by unknown artist (circa 1751)
Alexander Baring, 1st Lord Ashburton by Sir Thomas Lawrence (circa 1810)
Senator William Bingham by Gilbert Stuart (1797)

Sir Francis Baring by Benjamin West (1804)

58 x 48 inches (including frame), oil on canvas

One of the most significant pieces in the Baring portrait collection is that of Sir Francis Baring by Benjamin West from 1804. The composure of Francis in the portrait, the setting and choice of artist are all indicators of his wealth and prestige. Francis looks sternly away with a rigid posture, and yet his austere expression does not necessarily reflect the young merchant who sought to invest in the emerging markets of his day.

Portrait artists attempt the difficult task of capturing the likeness and character of their subject. The portrait certainly conveys Francis as a knowledgeable and trusted adviser. Having an open palm has been considered by both art historians and modern behavioural analysts to convey a sense of sincerity and trust. Francis had a meticulous and scrupulous nature, with extreme attention to detail, yet his portrait does not show other aspects of his character, such as his dynamism and devotion to his family.

By the time this portrait was completed Francis had retired from his role as director of the bank and was enjoying the accumulation of private wealth he had gained. Francis sits by a window which looks out on what may be the grounds of a country estate.

The portrait was originally displayed at Stratton Park, one of the Francis’s estates in Hampshire. Francis was not flamboyant with his wealth but collected Dutch masters, like Rembrandt and Rubens.

Francis commissioned many portraits of himself and his family. The choice of a leading artist was crucial to demonstrate wealth and status, and Francis could afford the leading artist of the day.

Benjamin West (1738-1820), born in Pennsylvania and with limited schooling and training had gone on to to become a renowned painter of historical scenes and portraits. West was history painter to the king and the second president of the Royal Academy. His reputation would have appealed to Francis and has stood the test of time, making this portrait all the more important.

There is a mystery that surrounds this portrait. The position of Francis and his hand gesture looks unnatural. It could suggest that this was originally part of a larger family portrait.

The National Portrait Gallery’s Reference Collection holds two sketches by Henry Bone, which support this theory. One is a sketch of this portrait of Francis Baring. Another is of his wife Harriet, also thought to be of a sketch of a piece by Benjamin West from the same date. She sits on a chair, the same design as Francis’s with the same red drapes and country scene behind her. If the two sketches were put together she would be adjacent to her husband and the backgrounds would match up.

Lawrence's portrait of Sir Francis can be viewed at Bowood House in Wiltshire and is hanging in the Library there.

Elizabeth Baring by unknown artist (circa 1751)

85.5 x 86 inches (including frame), oil on canvas

This portrait is of Elizabeth Baring as a child, the sister of Sir Francis Baring. She was born in 1744 and later married John Dunning, 1st Lord Ashburton.

Elizabeth's portrait reflects the aspirational hopes the Barings had for their children. The artist is not known but we can assume given their status at this time it would not of been one of the greats, yet the decision to have a portrait done of the child demonstrates the aspirations they had and in many ways acts as a precursor to the successes of the Barings in the future that would have their portraits done.

It was assumed that the painting was dated between 1750 and 1753 and specifically from 1751 because Elizabeth looks seven years old.

There has been a continual debate regarding the identity of the artist. It was firstly thought to be by Philippe Mercier (1689-1760) because one of the Barings directors saw Mercier’s Girl in a Pink Dress (1740) in Toronto in 1969, and was struck by the similarities. Mercier and Elizabeth’s father John Baring came to England at a similar time from Germany, so there was a possibility.

In 1970 an expert claimed that it was not because Mercier had stopped painting by 1751, the treatment of the clothes was not his style, and more importantly the painting appears to be a composite piece, which Mercier never did. The expert believed that the fruit, face and grapes were by one artist and the rest by another, which was made noticeable by the awkward position of her right arm. It was then suggested that the artist could be Joseph Highmore (1692-1780) who often worked in the West Country or Thomas Hudson (1701-1779).

Alexander Baring, 1st Lord Ashburton by Sir Thomas Lawrence (circa 1810)

58.5 x 48.75 (including frame), oil on canvas

One of the most famous portrait painters of the nineteenth century was Sir Thomas Lawrence. Lawrence produced many portraits for the Barings, including this one of Alexander Baring.

Alexander Baring, first Baron Ashburton (1773-1848) was said to be extremely confident, perhaps even arrogant. His portrait certainly reflects this. He stands proudly, his hand positioning exuding command. One hand rests on what could be deeds or accounts, which alludes to his role as a banker, while the other sits haughtily in his pocket. Alexander stands before red drapes and grand columns, looking out over a landscape of tempestuous clouds. The royal colours, poised composition and Grecian style convey Alexander’s self-importance.

The date of the portrait is unknown, however given Alexander’s relatively youthful appearance it may be from the beginning of the nineteenth century. In 1803 Alexander had played an essential role in the hugely significant Louisiana Purchase, which was the greatest real estate transaction in history and doubled the size of the United States of America, securing its power and removing any European threat to sovereignty. He was the undisputed leader of Barings when his father retired in 1804 and dominated the firm, meriting a portrait from the leading portrait artist.

The Baring family had a close relationship with Sir Thomas Lawrence (1769-1839). Sir Francis Baring was his patron and friend. The Barings also got Lawrence out of many financial difficulties. Lawrence was a painter of international renown. Lawrence’s talent and success resulted in him being asked to be president of the Royal Academy after Benjamin West died.

Senator William Bingham by Gilbert Stuart (1797)

54.75 x 44.5 inches (including frame), oil on canvas

Senator William Bingham (1752-1804) was a statesman from Philadelphia, who served in the US Senate. After the American Revolution, Bingham was considered one of the richest men in America. He was a client of Barings and had a close relationship with Alexander Baring who became his son-in-law.

This portrait by Gilbert Stuart (1755-1828) offers a detailed setting. Bingham stands in his grand palatial home that mimics the setting of other portraits of British royalty or nobles. The papers he is holding are certainly an indication to how he made his wealth from privateers and trading. The Grecian columns and royal red drapery suggest he is trying to imitate old aristocracy.

Stuart was the greatest American portrait artist of his day. He returned to America in 1793 was portrait artist to many important Americans of the period, including George Washington on the one dollar bill.

Mrs Henry Baring and children by Sir Thomas Lawrence (1817)

Public Life

The Baring family essentially built a dynasty of not just bankers but public figures and politicians. The early success of Sir Francis Baring in creating one of the finest banking institutions in history meant that during the nineteenth century the Baring family were fully established within the upper classes of society.

The Baring family's social position and wealth meant Baring descendents had options regarding their careers. Some, like Sir Thomas Baring and Francis Thornhill Baring, chose a more public life than going into the family business.

Sir Thomas Baring by John Linnell (1842)
Francis Thornhill Baring, later Lord Northbrook by John Linnell (1842)
Mrs Henry Baring and children by Sir Thomas Lawrence (1817)
Frances and Emily Baring by John Jackson (circa 1820)

Sir Thomas Baring by John Linnell (1842)

57 x 49.5 inches (including frame), oil on canvas

The portrait shows Sir Thomas at Stratton Park, the country estate inherited from his father, where he lived and died. By the nineteenth century it was common for portrait subjects to be portrayed in a domestic setting. The portrait is a powerful statement of the wealth and status of the Baring family. Sir Thomas sits looking incredibly dignified upon a leather chair, surrounded by his grand art collection, accounts and deeds. Paper scatters the floor, pouring out of ornate boxes, as beautifully detailed green and gold material drapes the table.

Portraits can capture the likeness of a person and attempt to show their character. The style of a portrait can also reveal the aspirations of an individual. By the date this portrait was completed in 1842 Thomas had been an Member of Parliament for High Wycombe and Hampshire, President of the London Institution and of the British Institution. He had also been Chairman of the London and South Western Railway.

The year before this portrait was completed Thomas was elected a fellow of the Royal Society, thus clearly interested in natural science. Thomas was a public figure and the papers, maps and objects that scatter this portrait illustrate the diverse and intellectual roles he was involved with away from the family bank.

Not only does this portrait represent the next generation of the Baring family, but also a new generation of artist. Sir Thomas Lawrence had been a friend and had been supported by Sir Francis Baring and Thomas had a similar relationship with John Linnell (1792-1882). The family collected his work and so commissioned him to paint their portraits after Lawrence had died. Lawrence was said to have influenced Linnell’s work and his early work had also been seen by Benjamin West, whom he visited each week in 1804-5 for advice.

Linnell can also be used to demonstrate a shift in the regard for portraiture. Portraiture was not considered the highest art form in this period, and although Linnell was a great portrait artist, his true passion was landscape and he used portraiture as a means of regular income. He was considered one of the best landscape painters in the country, but his reputation declined after his death.

Francis Thornhill Baring, later Lord Northbrook by John Linnell (1842)

56.5 x 49 inches (including frame), oil on canvas

Francis Thornhill Baring, first Baron Northbrook (1796-1866) was born in Calcutta, the eldest son of Sir Thomas Baring and Mary Ursula. Francis sat as the MP for Portsmouth from 1826 to 1865. He became Chancellor of the Exchequer and a privy councillor in August 1839. In January 1849 Francis was made First Lord of the Admiralty, at a time of rising tensions with the French.

This portrait, by John Linnell, is a powerful statement of his family’s wealth and social standing. Francis sits by a window, showing the vast grounds of their Hampshire estate, holding a book perhaps signalling his academic ability or his evangelical piety. Francis pursued a more public service life, and both him and his father show how due to the successes made by Sir Francis Baring with the family bank, they could enjoy different career paths.

Mrs Henry Baring and children by Sir Thomas Lawrence (1817)

85.5 x 86 inches (including frame), oil on canvas

This beautiful family portrait was commissioned by Henry Baring (1776-1848) from Sir Thomas Lawrence who was arguably the greatest portrait artist of Regency Britain. It shows Henry’s first wife, Maria Matilda, the daughter of US Senator William Bingham, and their children. The identities of the children are not known, although it has been speculated that they are James Drummond Baring and either Emily Baring or Anna-Maria Baring.

Exhibited at the Royal Academy in 1821 the piece is one of the more personal and dynamic pieces in the collection. The piece previously included Henry Baring but it appears that he has been cut from the left hand side after the breakup of their marriage in 1826.

The portrait is currently on long term loan to the Rijksmuseum in Amsterdam and can be viewed in their 19th century galleries.

Frances and Emily Baring by John Jackson (circa 1820)

83 x 56.5 inches (including frame), oil on canvas

This portrait shows the two daughters of Sir Thomas Baring, Emily (b.1809) and Frances (1813-50) as young girls. There is limited information available on the girls, but we do know that Emily married the Reverend WM Dupré, and Frances married her first cousin Henry Labouchère, later 1st Lord Taunton in 1840 and had three daughters.

From the scenic country background the girls could be depicted at one of the family’s country homes, most likely Stratton Park in Hampshire. Emily is depicted as the older sister by her dominant stance with her hand on her hip, her direct gaze to the viewer and is shown leading Frances by the hand. The pinkish hues of Emily’s drape and hat contrast to her sister’s white childish bonnet. John Jackson (1778-1831) was an English painter and copyist. Emily’s face has oriental qualities, which is unsurprising as during the nineteenth century Japonisme and Chinoiserie was still common.

A New Partnership

Barings bank for the most part had been an English run family business, but in 1828 a new partnership was formed between Thomas Baring and Bostonian Joshua Bates. Bates was initially the more senior and experienced partner, but the two differing men complemented each other growing the bank to new heights.

Thomas Baring (1799-1873) by John Linnell (1841)
Joshua Bates by unknown artist (circa 1856)

Thomas Baring (1799-1873) by John Linnell (1841)

32 x 27.5 inches (including frame), oil on canvas

This portrait of Thomas Baring (1799-1873) dates from 1841 and is by John Linnell. Thomas stands smartly holding his hat against a grand column, while a black dog looks up at him. Based on the background he is at Stratton Park the family Hampshire home. In contrast to Linnell's portraits of his brother and father he stands. The standing nature of his pose conveys his outgoing personality.

Thomas was a young go-getter who would become one of the most renowned members of the Baring family. Famous for his integrity, charm and eloquence, his personality contrasted with that of the reserved Joshua Bates. Each played to their strengths creating a phenomenally successful business partnership. Bates managed the merchant and trade finance from its Bishopsgate headquarters, while Thomas travelled widely promoting Barings in Europe and North America.

Joshua Bates by unknown artist (circa 1856)

59.75 x 49.25 inches (including frame), oil on canvas

This portrait of Joshua Bates (1788-1864) is in stark contrast to that of Thomas Baring. The austere facial expression and positioning of his body capture his stern personality. The dark puritanical colours contrast with the earthy greens of Thomas’s portrait.

Bates was considered very hard working with tremendous attention to detail. However he could appear charmless and unexciting in contrast with the gregarious, charming and charismatic Thomas.

Not much is known about the provenance or artist of this portrait of Joshua Bates. In his diary, Bates mentions sitting for a portrait by an artist named Eddy in 1856, noting that he was unhappy with the shape of his hand. The prominence of his hand in this piece could indicate this is the portrait mentioned.

That Bates did not have the same quality of artist as the Barings for his portrait indicates that he had perhaps not attained the same social standing as his fellow partners. Bates made many notable friends and had considerable wealth. He was close to King Leopold I of Belgium and to Napoleon III. His daughter made Queen Victoria and Prince Albert godparents to her children. Bates acquired great houses in London as well as a country estate and helped found the Boston Public Library. Despite his connections Bates' background and nationality meant that he remained an outsider, socially shunned by the Baring family.

On the brink of collapse

Thomas Baring and Joshua Bates had expanded the bank financially and globally. Joshua Bates worked until he died as he was worried about leaving the bank in the hands of the junior partners, including Edward Baring.

Bates was proved correct by the crisis of 1890. Barings faced bankruptcy as a result of Edward Baring's risky investments in Argentina. A consortium was assembled including the Bank of England and Rothschilds to guarantee Barings' debts in order to avoid a larger depression.

Following the crisis John Baring managed the bank with considerable more care than his father, Edward Baring. John succeeded in re-establishing Barings' reputation.

Edward Baring, 1st Lord Revelstoke by Rudolf Lehmann (1879)
John, Cecil and Everard Baring by James Sant (1872)
1st Lord Revelstoke by Frank Dadd (1878)

Edward Baring, 1st Lord Revelstoke by Rudolf Lehmann (1879)

70.75 x 56 inches (including frame), oil on canvas

This portrait of Edward Baring dates from 1879 and captures his audacious nature.

In the portrait, painted during Edward’s reign of power at Barings, he stands holding his stick and his hand gesture certainly gives a sense of Napoleonic command. He looks very dignified, and the country setting alludes to the wealth and estates owned by the Baring family. By the date of this portrait Edward was leader of the bank, and would later be a director of the Bank of England, chairman of Lloyds and Lieutenant of the City of London.

Edward was known for his extravagant lifestyle and the artist chosen for this portrait reflects his taste. Rudolph Lehmann (1819-1905) was a German portrait and genre painter who had moved to London in 1866. Lehmann enjoyed a grand social life hosting many parties with many of the guests then sitting for portraits.

John, Cecil and Everard Baring by James Sant (1872)

63 x 54 inches (including frame), oil on canvas

Edward C Baring had five sons. The elder three John (1863-1929), Cecil (1864-1934) and Everard (1865-1932) are depicted in this portrait which was hung in their home at Membland, Devon.

The boys are painted on the beach wearing sailor outfits and holding a model yacht, which could perhaps be intended to reflect their father’s ownership of the Waterwitch, a grand racing craft, which was kept in Devon. From their height and stature we can assume that the far left boy is the youngest brother Everard, followed by the oldest, John and then Cecil.

James Sant (1820-1916) was a prolific portrait and genre artist who specialised in children and high society portraits. He was a member of the Royal Academy and was appointed by Queen Victoria as her principal painter, although she did not sit for him as he was unable to capture a likeness she was satisfied with.

1st Lord Revelstoke by Frank Dadd (1878)

28 x 34 (including frame), oil on canvas

In this portrait Edward Baring sits on a majestic grey horse in the grounds of one of the family’s country estates, showing the leisurely lifestyle of a country gentleman. The portrait would have been for personal display and shows a different style of portraiture than the others in the collection.

Frank Dadd (1851-1929) was born in London and studied at the Royal College of Art and at the Royal Academy Schools. Dadd specialised in historical and genre paintings, and also worked as an illustrator for books, including the Illustrated London News and The Graphic. He exhibited at the Royal Academy from 1878 and was elected to the Royal Institute of Painters in Watercolours in 1884 and Royal Institute of Oil Painters in 1888.

Rebuilding the bank

John Baring witnessed significant changes to both the bank and world. The First World War saw the bank go through a considerable amount of change, both to staff and business. Some areas of business came to a halt while others got considerably busy. Young men went to war, some never to return. An increasing number of women worked for the bank. By the end of the war Barings had changed considerably and needed to re-establish itself in a changed world.

This period also saw a change in the use of portraiture and artistic style. Portraits were traditionally used to demonstrate wealth and status, and the Baring portraits are no exception. Barings continued to use portrait painting in the late nineteenth and twentieth century, despite the development of photography. However, portraiture was used less for personal reasons and more for business purposes. The bank would commission an artist to paint the portrait of a director upon their retirement. These portraits were then displayed at the bank's premises on Bishopsgate.

John Baring, 2nd Lord Revelstoke GCVO by Ambrose McEvoy (1926)
John Baring, 2nd Lord Revelstoke by Sir William Orpen (1925)
Messrs Baring Brothers & Co by Ambrose McEvoy (1927)
Sir Edward Peacock by Sir James Gunn (1954)

John Baring, 2nd Lord Revelstoke GCVO by Ambrose McEvoy (1926)

62 x 50 inches (including frame), oil on canvas

The impact of the Baring crisis of 1890 was personal as well as professional. The partners of the bank were all personally liable for Baring's debt and their assets were sold. Edward’s country home, Membland, and other family possessions were valued and then auctioned off.

Edward Baring stepped down as senior partner and was succeeded by his eldest son John. John managed to restore the bank's reputation in the City. The crisis cast a long shadow over his life and career and he remained very cautious in his lifestyle and management of the bank.

John Baring, 2nd Lord Revelstoke by Sir William Orpen (1925)

37.5 x 34.5 inches (including frame), oil on canvas

Portraiture more than any other form of art reminds us of the encounter between an artist and the sitter. A portrait is usually commissioned and a delicate relationship established between the artist and the subject. The resulting portrait may not always be well received.

This portrait of John Baring was commissioned from Sir William Orpen (1878-1931), who was a hugely successful portrait artist and war painter. Orpen was a close friend of John’s brother Maurice Baring (1874-1945), the poet, novelist and war correspondent. The relationship between Maurice and Orpen may be why John selected Orpen to paint the portrait.

It is believed that this piece is unfinished due to a dispute between the artist and sitter. The painting was found in 1931 in Orpen’s studio following his death and was purchased by Sir Edward Peacock for Barings.

Messrs Baring Brothers & Co by Ambrose McEvoy (1927)

49.75 x 59.75 inches (including frame), oil on canvas

This group portrait and a set of accompanying individual portraits was commissioned by Barings in 1926 from Ambrose McEvoy (1878-1927). It was painted just before the pictured directors, John Baring, Cecil Baring, Gaspard Farrer and Alfred Mildmay were due to retire.

The piece was a celebration of the strong partnership of these men, which had made the bank so successful for thirty years previously. Barings during this period saw many changes. The First World War impacted the bank greatly, as some elements of Barings' work came to a halt while others thrived, especially war related work. The demographic of the firm changed with many men going to war. The end of the war found Barings a changed firm needing to re-establish its role and business in a world that had also changed and was continuing to do so.

This portrait reflects wider artistic developments as the Modernist movement took hold.

McEvoy's style combines classical painting with modernism and his technique captures the mood of the Partners Room at Barings' offices on Bishopsgate. This group portrait was for business purposes so a strong likeness is to be expected. Ambrose McEvoy’s distinct style of fluttering brushstrokes making iridescent effects is certainly evident.

Sir Edward Peacock by Sir James Gunn (1954)

49.25 x 39.5 inches (including frame), oil on canvas

Sir Edward Peacock (1871-1962) was a merchant banker from Canada. He also managed the British Royal Family’s finances as Receiver-General of the Duchy of Cornwall, and it has been said he was instrumental in the appointment of Ian Fleming to the Naval Intelligence.

This portrait was commissioned in 1954 from the artist by Barings on Peacock’s retirement as a director. Like the McEvoy portrait it is interesting to note the role that portraiture played as a way to mark retirement.

In this portrait Peacock looks very stern, a particular style of James Gunn. The correspondence between the brown shades of his tie and the hues of the earthy wallpaper behind him lends a sense of balance to the work, making the painting so much more articulate and softens his firm expression giving an overall pleasant sense to the painting.

Sir James Gunn (1893-1964) was a Scottish painter who emulated French values of painting. He was deeply affected by the First World War having lost two brothers and in 1915 joined the Artists Rifles. Gunn often painted portraits for members of high society, including Maurice Baring. He was also a painter to royalty, and his portrait of Elizabeth II was voted Painting of the Year at the Royal Academy in 1953. Gunn was president of the Royal Society of Portrait Painters and a full member of the Royal Academy.

Conclusion

The portraits in The Baring Archive tell not only the story of a family and its business but also provide an interesting perspective on the development of portraiture in the period 1800 to 1950.

Changes in artistic practice also had their effect on portraiture. Between the fifteenth and nineteenth centuries portraiture had experienced certain continuities. Portraits were expected to provide a likeness and to show the sitters character and status. Changes occurred during the nineteenth and twentieth century through the Modernist movement. Artists began to reject mimesis in portraiture. Those who considered themselves part of the avant-garde rejected the traditions of the past. Portraiture became less about the sitter and more about the artist’s style and intention.

Just as style of portraiture had changed in the twentieth century so did its function and popularity. Changing social conditions, attitudes and the emergence of photography contributed to the decline of portraiture. The Baring collection embodies this change as we see a shift from family portraits to those for business purposes.

Baring Portraits

Sir Francis Baring by Benjamin West (1804)

Elizabeth Baring by unknown artist (circa 1751)

Alexander Baring, 1st Lord Ashburton by Sir Thomas Lawrence (circa 1810)

Senator William Bingham by Gilbert Stuart (1797)

Sir Thomas Baring by John Linnell (1842)

Francis Thornhill Baring, later Lord Northbrook by John Linnell (1842)

Mrs Henry Baring and children by Sir Thomas Lawrence (1817)

Frances and Emily Baring by John Jackson (circa 1820)

Thomas Baring (1799-1873) by John Linnell (1841)

Joshua Bates by unknown artist (circa 1856)

Edward Baring, 1st Lord Revelstoke by Rudolf Lehmann (1879)

John, Cecil and Everard Baring by James Sant (1872)

1st Lord Revelstoke by Frank Dadd (1878)

John Baring, 2nd Lord Revelstoke GCVO by Ambrose McEvoy (1926)

John Baring, 2nd Lord Revelstoke by Sir William Orpen (1925)

Messrs Baring Brothers & Co by Ambrose McEvoy (1927)

Sir Edward Peacock by Sir James Gunn (1954)

Baring Portraits

Introduction

Beginnings

Public Life

A New Partnership

On the brink of collapse

Rebuilding the bank

Conclusion