Alexander Baring, 1st Baron Ashburton
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The Right Honourable The Lord Ashburton PC |
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| President of the Board of Trade | |
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In office 15 December 1834 – 8 April 1835 |
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| Monarch | William IV |
| Prime Minister | Sir Robert Peel, Bt |
| Preceded by | Charles Poulett Thomson |
| Succeeded by | Charles Poulett Thomson |
| Master of the Mint | |
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In office 23 December 1834 – 8 April 1835 |
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| Monarch | William IV |
| Prime Minister | Sir Robert Peel, Bt |
| Preceded by | Hon. James Abercromby |
| Succeeded by | Henry Labouchere |
| Personal details | |
| Born | 27 October 1774 |
| Died |
12 May 1848 (aged 73) Longleat, Wiltshire |
| Nationality | British |
| Political party | Tory |
| Spouse(s) | Anne Louisa Bingham (d. 1848) |
Alexander Baring, 1st Baron Ashburton PC (27 October 1774 – 12 May 1848) was a British politician and financier, and a member of the Baring family. Baring was the second son of Sir Francis Baring, 1st Baronet, and of Harriet, daughter of William Herring. His grandfather, John Baring (1697–1748), emigrated from Germany and established the family in England.
Alexander was brought up in his father's business, and became a partner at Hope & Co. He was sent to the United States for various land deals, and formed wide connections with wealthy American families. In 1807 Alexander became a partner in the family firm, along with his brothers Thomas and Henry, and the name was changed to Baring Brothers & Co. When Henry Hope died in 1811, the London offices of Hope & Co. merged with Baring Brothers & Co.
Baring sat in parliament for Taunton between 1806 and 1826, for Callington between 1826 and 1831, for Thetford between 1831 and 1832 and North Essex between 1832 and 1835. He regarded politics from the point of view of the business man and opposed the orders-in-council for "the restrictions on trade with the United States in 1812," and, in 1826, the act for the suppression of small banknotes as well as other reform. He accepted the post Chancellor of the Exchequer in the Duke of Wellington's projected ministry of 1832; but afterwards, alarmed at the men in parliament, declared "he would face a thousand devils rather than such a House of Commons." After the banking crisis of 1847, Baring headed an external bimetallist movement hoping to prevent the undue restriction of the currency.
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