Newman, who came from a very old Dartmouth mercantile family with extensive interests in Newfoundland fisheries and the Portuguese wine trade, inherited £1,000 and a 19 per cent share of his father’s estate in 1802.
In August 1825 Newman announced that he would not offer at the next general election, although he denied that his decision was ‘in the slightest degree influenced by recent circumstances’ in Exeter, where there were moves to force another expensive contest. He took consolation in the fact that while he had sometimes differed from his constituents, ‘the views I entertained have of late, in many instances, been sanctioned by the measures of government’.
