A landowner and retired East India merchant, Nicol won a famous victory for the Liberals at the 1865 general election for Kincardineshire. He was one of a number of Liberals who captured Scottish counties hitherto dominated by the Conservatives through exploiting the grievances of local farmers. Except on Scottish questions, Nicol ‘seldom spoke in Parliament, but could always express himself in a manner which showed that he had given careful attention to the subject under discussion’.
A native of Kincardineshire, Nicol’s father was a surgeon in the navy who then took up the ‘unremunerative, though chivalrous, profession of a county doctor’.
When in 1864, the long-serving Conservative MP for Kincardineshire announced his retirement at the next dissolution, Nicol offered as a Liberal. He was commended as a native of the county, who had ‘long been connected with some of the wealthiest London banking firms, and is a first rate man of business’.
A ‘moderate Liberal’, Nicol supported the extension of the suffrage, but believed that the franchise was ‘a great trust for public purposes’ rather than an automatic right.
‘Very regular in his attendance’, Nicol was preoccupied with agricultural questions in his first two sessions.
In 1868 Nicol drew on his own experience in India to raise the collapse of the Bank of Bombay in Parliament, and pressed the government about their policy regarding the creation of a new bank. He hoped that the government-instituted inquiry would be rigorous. Individual investors, many of them members of the Indian civil service or army officers, had purchased shares in the bank because it appeared to have the security of being backed by the state. This was because the Bombay government were shareholders and appointed three directors to the board, Nicol explained.
Nicol was re-elected at the 1868 general election and sat until his death in November 1872, by which time his failing health had ‘compelled him to relinquish parliamentary and all other labours’.
