Smith was nowhere sure of a seat in Parliament. He had first come in for Ilchester on his father-in-law’s interest, which he inherited in 1785, but he was unable to maintain it.
In 1789 Smith became principal of the banking house of Samuel Smith of Aldermanbury, founded by his father. He was a cousin of the banking dynasty formed by the brothers Robert Smith, Samuel Smith I, George Smith and John Smith II. A few months before he died he became a partner in the newly established London and Middlesex bank. He was also a Turkey merchant, acting as treasurer of the Levant Company for the last three years of his life.
