BARING, Wring, or b5r'ing. The firm of Baring Brothers was long one of the greatest commercial houses in the world. Its founder was John Baring, a German. who settled in a small business in Exeter, England, in the first half of the Eighteenth Century. Two of his sons, Fran cis and John, established in London, in 1770, a banking-house.
In November, 1890, owing to the continued failures of the Argentine Republic to pay the interest due upon its debt, which had been guar anteed by the Barings, the firm was threatened with suspension. but was saved by the action of the Bank of England, which, in conjunction with the firm of Brown, Shipley Sz Co., ad vanced the sum of £13,000,000 to tide over the crisis. The house of the Barings has since been reorganized as a limited company for carrying on a regular banking business, though on a less extensive scale than before.
Sir FRANCIS BARING (1740-1310) became a director of the East India Company. and being a
stanch supporter of Pitt, was created a baronet by that minister in 1793. He took an active par in the discussions relative to the Bank Restriction Act of 1797.
Sir BARING ( 1772-1848), eldest son of the above, succeeded his father in the baron etcy. ire was a member of the Commons in 1830-32. He appears to have taken no active part in the business of the firm, and is known chiefly as an admirer and encourager of art. His magnificent collection of paintings was dis persed by public sale after his death.
Sir FRANCIS THORNHILL BARING ( 1706-1866), son of Sir Thomas, whom, he succeeded, was edu cated at Oxford. He entered the Commons for Portsmouth in 1826, and under successive Whig governments was Lord of the Treasury, Secretary to the Treasury, Chancellor of the Exchequer, and First Lord of the Admiralty. He was created Baron Northbrook in 1866.