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Encyclopedia Britannica



THORNTON, HENRY (17601815)

This article appears in Volume V26, Page 881 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: THE-TOO
THORNTON, HENRY (17601815) , English banker and economist, was born on the loth of
March
  1760. In 1784 he became a member of the banking firm of Downie, Free & Thornton, with which he was associated till his death on the 16th of January 1815. In 1783 he was elected member of
parliament
  for Southwark, a constituency which he represented for the rest of his
life
 . Although an indifferent
speaker
 , he soon acquired a high reputation as an authority on
financial
  matters. This reputation he confirmed by An Inquiry into the Nature and Effects of the
Paper
  Currency of England (1802), defending the legislature in suspending cash payments. He strongly supported the income tax on its
original
 
imposition
  in 1798, but was in favour of a graduated
system
 , and indeed paid. his own income tax " on the scale of his ideal, not his legal debt." He was one of the founders of the Sierra Leone Company (see SIERRA LEONE) and its chairman until the colony was taken over by the English government.


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