LORD REVELSTOKE

Southland Times, Issue 20664, 20 April 1929, Page 7

LORD REVELSTOKE

SUDDEN DEATH IN PARIS. (Rcc. 1.5 a.m.) Paris, April 19. Lord Revelstoke, chairman of the British Committee, who had been discussing reparations with Dr. Schacht, was found dead in bed at 7.30 as the result of a heart attack. He was busily engaged in yestei't day’s events leading to the deadlock. —Australian Press Association.

John Baring, 2nd Ixird Rcvclstoke, banker, a director of the Bank of England and one of the British delegates on the Expert Committee for Reparations, was born in September, 1863, and succeeded to the title in 1897. He may be. said to have been born in banking, for his great-grand-father was the founder pf the famous firm of Baring Brothers anti Lis grandfather and father had each in turn been head of the business. It was his father who had to face one of the gravest financial crises in the banking history of London. The firm got into temporary difficulties owing to the heavy demands on it in 1891 when its liabilities amounted to £28,000,000. Disaster was, however averted by the Bank of England advancing £3,000,000 with the backing of a guarantee fund of £15,000,000 underwritten by the leading London banks. This- prompt support gave the firm time to liquidate the necessary assets and prevented a catastrophe. When Kind Edward came to the throne, Lord Revelstoke was given the task of reorganizing the Royal finances, and in 1908 he was made Re-ceiver-General for the Duchy of Cornwall, in which post he undertook a similar financial reorganization with marked success. After the disastrous earthquake of 1923 in Japan, which imposed a terrible strain on the resources of that country. Lord Revelstoke with other London experts, accepted the onerous task of bringing order out of financial chaos. He was presented with a gold cup by the Emperor of Japan in recognition of his services. When in January 1929, the question came up of the appointment of British members of the Committee of Experts to frame proposals for the definite settlement of the German reparations problem, Sir J. Stamp and he were chosen. In 1911 he was made G.C.V.O. and in 1924 a Commander of the Legion of Honour.