HET: William Nemarch

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William Newmarch, 1820-1882.

English banker, economist and statistician. Born and educated in Yorkshire, William Newmarch worked as a clerk for a local stamp distributor, insurance company and bank, before moving to London in the 1840s to take a job at Agra Bank. In 1851, he resigned from Agra to become secretary at the Globe Insurance Company and, in 1862,became chief officer of the Glyn, Mills & Co. Bank, where would remain thereafter.

A free-trade activist, Newmarch was the author of the Merchants' Petition of 1820 and founder and leading organizer of the Political Economy Club of London, and contributed a 'Commercial History of the Year' column to The Economist and the Journal of the Statistical Society for twenty years (1863-82), reviewing the progress of trade. A liberal and member of the Reform Club, Newmarch authored one anonymous pamphlet (1859) in defense of Lord Derby's government.

Newmarch's articles on the new gold finds in California and Australia in the Morning Chronicle, were collected into this first treatise, 1853. Newmarch was one of the main figures of the English " Banking School" during the Bullionist Controversy. He rejected the Quantity Theory without actually developed a clear monetary theory of his own.

Newmarch was president of Section F of the BAAS in 1861, the first (non-noble) president of Statistical Society of London in 1869-71 (and long-time secretary and editor of its Journal).

Newmarch assisted Thomas Tooke in the compilation of volume 5 & 6 of his magnum opus on historical price statistics .He was a member of the Tooke Memorial Committee which managed the Tooke professorship at Kings' College London from 1859. After his death, a subcription was raised for the Newmarch Lectureship in Economic Science and Statistics at University College London.

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Major Works of William Newmarch

The New Supplies of Gold, 1853
On the Loans Raised by Mr. Pitt during the First French War, 1793-1801, with some statements in defense of the methods of funding employed, 1855
A History of Prices and of the State of the Circulation from 1793 to 1857, preceded by a brief sketch of the state of the corn trade in the last two centuries , volumes 5 & 6, with T. Tooke, 1857.
"On the Electoral Statistics of the counties and boroughs in England and Wales, Part I, Part II" 1857, JSS of London
"On the Recent History of Credit Mobilier", 1858, JSS of London
[Anon.] Political Perils, 1859
"Mercantile Reports of the Character and Results of the Trade of the United Kingdom during the Year 1858", 1859, JSS of London
"On the Electoral Statistics of England and Wales", Part II, Mem, 1859, JSS of London
"Results of Trade of the United Kingdom during the Year 1859", 1860, JSS of London
"On Methods of Investigation as Regards Statistics of Prices and of Wages in the Principal Trades", 1860, JSS of London
"Memorandum relating to the Systems of Taxation at present in force in the United Kingdom", 1861, JSS of London
"Results of the Trade of the United Kingdom during the Year 1860, with statements and observations relative to the course of prices since the year 1844", 1861, JSS of London
"The Progress of Economic Science during the last Thirty Years: Opening Address of the President of Section F of BAAS", 1861, JSS of London
"Notice of J.E. Thorold-Rogers' History of Agriculture & Prices", 1866, JSS of London
"Inaugural Address on the Progress and Present Condition of Statistical Inquiry",1869, JSS of London
"Address to Economy and Trade of Social Science Association at Leeds", 1871, JSS of London
"On the Progress of Foreign Trade since 1856, with especial reference of the effects produced upon it by the protectionist tariffs of other countries", 1878, JSS of London

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Resources on William Newmarch

"William Newmarch - Obituary", 1882, JSS of London
"William Newmarch" in R.H. Inglis Palgrave's Dictionary, 1894-1901
Newmarch at Britannica
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