In 1820 Gladstone, a self-made Liverpool merchant prince of indomitable will, relentless energy, short temper and warm affections, had a business fortune of over £333,000, of which more than half was staked in the West Indies. He owned a Demerara sugar plantation, Success, worth £100,000, and had £150,000 invested in loans and his various trading partnerships. The following year he took over the European business of the Vreedenhoop plantation and, after a quarrel with his brother Robert, ended their East Indian commercial partnership and merged his East and West Indian companies into the firm of Gladstone, Grant and Wilson. If slave ownership sat uneasily with the Evangelical Anglicanism for which he had deserted his native Presbyterianism (he was a builder of churches and an active philanthropist), it did not show in his unabashed public stance on the issue, though the dichotomy troubled his beautiful and devoted second wife and sickly daughter Anne. A ship owner and investor in Liverpool urban property, he possessed the Litherland estate at nearby Seaforth, but was on the lookout for a landed base in Scotland. In Liverpool, to whose representation he aspired, he was the principal supporter of its Member Canning, his political hero since 1812, having then renounced his earlier association with the local Whigs and reformers opposed to the corporation’s oligarchical rule, though he was no uncritical apologist for the latter. He was an effective and ruthless election manager in a city notorious for corruption, and made many enemies. He was valued for his commercial experience and expertise by Lord Liverpool’s ministry (in which Canning was president of the board of control), whom he had supported silently as Member for the open and venal borough of Lancaster in the 1818 Parliament. He did not seek re-election there in 1820, when, after toying with the idea of challenging Gascoyne, the corporation-backed Member for Liverpool, he was recommended by Lord Liverpool to the 5th duke of Marlborough, who had asked him to name ‘any eminent commercial person’ for a seat for Woodstock, where he had the dominant interest. Gladstone was returned unopposed with an opportunist Oxfordshire Whig.
He was named to the select committees on the royal burghs’ petitions, 4 May 1820 (and again, 16 Feb. 1821), highways, 16 May, and foreign trade, 5 June 1820; he was appointed to the latter in each of the following four years. On 19 June he testified to the select committee of inquiry into agricultural distress on frauds in taking the corn averages in Liverpool.
On 9 Feb. he attributed agricultural distress largely to an excess of production over consumption, which was held down by low wages, and deprecated casual dissemination of the notion that there was a handy legislative solution. Denying a radical allegation that ‘the friends of many Members of Parliament lived upon the taxes’, he asserted that ‘his support for the present ministers arose from his conviction’ that their ‘system ... was the best and safest for the country’. In the course of his speech, he was called to order for alluding to the previous night’s debate.
He did likewise against more extensive tax reductions, 11 Feb., and abolition of one of the joint-postmasterships, 13 Mar. 1822. He supported the prayer of petitions for removal of the restrictions on private trade to the East Indies, 3 May, and against the navigation bill (of which he disapproved), 6 May.
Gladstone pressed on ministers in 1823 the need to reduce the British cotton industry’s dangerous dependence on American raw material by increasing the duty on foreign imports and introducing a drawback for exports.
In late 1823 Gladstone learnt of the August slave revolt in Demerara, which had been centred on his own plantation and been savagely put down. He sent reports from his agent to Huskisson, who expressed agreement with his view that the abolitionists were to blame and that the only safe way forward was that set out in Canning’s resolutions of May 1823 in favour of amelioration in preparation for emancipation. Gladstone, who attempted to have enlightened practices and spiritual and moral improvement put into effect on his own plantations, was ‘not sorry’ to hear of the death in prison of the Methodist missionary John Smith, who had been arrested for incitement, ‘as his release would have been followed by much cavil and discussion here’.
In March 1824 Gladstone had received the following letter from Marlborough:
I am sorry that the only request I have troubled you with on parliamentary matters since your election for Woodstock should meet with so determined a refusal. I cannot give up my opinion as to the question at issue, but as your opinion is as good as mine and mine perhaps as good as yours, there is an end to the matter. I confess I detest monopolies and will always support a competition, whether it may be between inn keepers or lamp lighters.
While it is not clear precisely what issue prompted this remonstrance (it may have been the beer duties bill) Gladstone, who absented himself from Liverpool but commissioned his son Robertson to act as a tour guide when Marlborough visited the city in December 1824, knew that he could not expect to come in again for Woodstock at the next general election.
we have no power of controlling Mr. Gladstone. He is independent of the government, and having no chance at Woodstock, thought it for his interest to close with an offer from Berwick. This he did without consulting me, and when he announced his departure for Berwick I warned him that he was embarking amongst a very troublesome and expensive set of constituents ... and I distinctly told him that the aid of government would be given in every possible way to the Beresfords. Even now I do not see that it is practicable to do more. If he had not voted for the Catholic question, it had been possible to find him a popular seat elsewhere at less expense, and little hazard.
Add. 38195, f. 182; 38301, f. 12; 40305, f. 128; Wellington mss WP1/831/11.
In December 1825 Gladstone, notwithstanding his recent criticisms of ‘the cursed systems of country banking’, which he largely blamed for the current commercial crisis, responded favourably to an approach from the Gloucester and Cheltenham bank of Turner, Turner and Morris, which had suspended payments, to invest £10,000 in a new partnership. While he was keen to set up the venture as an ideal example of what a sound and profitable country bank should be, he also thought it would enable him to ‘establish for myself an important political interest’ in Gloucester, which might be of use to himself or one of his sons. In the event he withdrew from the scheme after his potential associates, who were ‘not altogether reconciled to the strictness of my system’, had prematurely made it public.
Chairing a Liverpool election meeting in support of Huskisson soon afterwards, he was given a hard time by a disgruntled ship’s carpenter, who denounced Huskisson’s support of the 1825 Combination Act. There was no substance to the usual rumours of his own candidature for the city.
A month later Canning, who probably found Gladstone rather tiresome, was prime minister. Gladstone, for his part, felt neglected by Canning, complaining in a letter drafted to Huskisson but not sent, 24 Mar. 1827, that he had been cool towards him ever since becoming foreign secretary. Nothing came of a rumour that Canning was to give him a peerage. Nevertheless, he was a sincere well-wisher to Canning’s administration, and chaired a Liverpool meeting in its support, 9 May, though he cavilled at some of his commercial policies and called for ‘the timely concession of the just claims of the Catholics’ to ‘prevent Ireland from being deluged in blood’.
He substantially reduced his investment in the West Indies after emancipation, which cost him between £150,000 and £250,000. After experimenting with the import of Coolie labour from Bengal to the Caribbean as he concentrated more on trade with the East, he sold Vreedenhoop in 1840 and largely wound up his West Indian estates the following year, having earlier transferred his Demerara assets to his children. He invested heavily in domestic transport ventures. In 1843 he gifted £74,000 to his children. Five years later he gave them a further £250,000 and made a will (8 Dec. 1848) to deal with the remainder. His surviving daughter Helen, who had turned Catholic in 1842, went through a phase of opium addiction and dementia and died in continental exile, received a life interest in £50,000, while the three younger sons were given an additional £10,000 each. The Scottish estates had already been made over to Thomas, whose stake in the will amounted to £126,000, plus a quarter share with his brothers in a residue of £216,000.
Though with little left either of sight or hearing, and only able to walk from one room to another or to his brougham for a short drive, though his memory was gone, his hold upon language even for common purposes imperfect, the reasoning power much decayed and even his perception of personality rather indistinct, yet so much remained about him as one of the most manful, energetic, affectionate, and simple-hearted among human beings, that he still filled a great space to the eye, mind, and heart, and a great space is accordingly left void by his withdrawal.
W.E. Gladstone ed. J. Brooke and M. Sorensen (Prime Ministers’ Pprs.), iii. 80-102; J. Morley, Life of Gladstone, i. 388.
He had more to say on his father, whose fortune at his death (about £600,000) was less than that of ‘others who in native talent and energy he much surpassed’:
It was a large and strong nature, simple though hasty, profoundly affectionate and capable of the highest devotion in the lines of duty and of love. I think that his intellect was a little intemperate, though not his character ... He could not understand nor tolerate those who, perceiving an object to be good, did not at once and actively pursue it; and with all this energy he joined a corresponding warmth and ... eagerness of affection, a keen appreciation of humour, in which he found a rest, and an indescribable frankness and simplicity of character, which, crowning his other qualities, made him, I think (and I strive to think impartially), the most interesting old man I have ever known.
Morley, i. 10, 19.
