Name James 1st | Children Elsie Mackay | |
Died May 23, 1932, Monte Carlo, Monaco Parents Deborah Lyle, James Mackay Similar People Elsie Mackay, Lionel Atwill, Dennis Wyndham | ||
James Lyle Mackay, 1st Earl of Inchcape, (11 September 1852 – 23 May 1932), known as Sir James Mackay from 1894 to 1911, was a British businessman and colonial administrator in India who became Chairman of the Peninsular and Oriental Steam Navigation Company ("P&O").
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Background
Mackay was the second son and fourth child of James Mackay of Arbroath, a well-to-do shipmaster and his wife, Deborah Lyle. On his eighth birthday, Mackay's father took him on a flax run between Montrose and Archangel in Russia; thereafter he never "missed an opportunity to converse with captains in port."
After employment as a scrivener in Arbroath, Mackay joined a firm of rope and canvas makers where his employer recorded: "Jeemie is no bad laddie, but he's a damned sicht [sight] ower-ambitious".
Career
Mackay's parents died when he was twelve, whereupon he inherited a substantial sum from his father. £2,000 of the bequest was invested in East India shipping, which provided an income of £100 per annum. In 1871, he secured employment with the shipbrokers and agents Gellatly, Hankey and Sewell, who were involved with the newly founded British-India Steam Navigation Company (BI).
The opening of the Suez Canal in 1869, which shortened the journey from London to Bombay by 4,000 miles (6,400 km), created a surge in trade between Europe and India. As a result, BI's Calcutta agents, Mackinnon Mackenzie & Co., asked their London based counterpart, Gray, Dawes & Co., for a new shipping assistant to handle the increased workload. Mackay got the job despite being the third choice, arriving in India in 1874. With the development of inland transport throughout the sub-continent, export opportunities in indigo, coal, tea, jute and wrought iron abounded and saw Mackinnon Mackenzie & Co. enjoy a steady increase in business. The collapse of the City of Glasgow Bank in October 1878 proved a disaster for BI's Bombay agents, Nichol and Co., but allowed Mackay to establish a new branch of Mackinnon Mackenzie & Co. in the city. At the age of 26 he became a partner in the Bombay firm and received a 10% share of the profits, increasing to 15% by 1884. As Mackay later recalled:
"Life in Bombay was extremely agreeable. I was elected a member of the Royal Bombay Yacht Club. I built a small yacht, which I named the Pinafore and had many delightful cruises in Bombay harbour. I became a member of the Bombay Hunt ... we had glorious hunts every Sunday in the cold weather, a pack of hounds being brought out every season from home, together with a huntsman. I had a bungalow out at Bandra and here I used to go for the week-ends all year round."
In 1881, Mackay returned home to Scotland following an attack of typhoid, apparently so weakened by fever that he had to be carried on board his ship at Bombay.
By 1914, Mackay was the sole surviving senior partner of the company that would be renamed Inchcape plc in 1981. Mackay was appointed President of the Bengal Chamber of Commerce in 1890, a member of the Legislative Council of the Viceroy of India in 1891 and a member of the Council of the Secretary of State for India in 1897.
Mackay Treaty
In October 1901, Mackay was appointed His Majesty´s Special Commissioner to conduct negotiations with representatives of China, arriving in Shanghai in early December for negotiations. The following year he and Chinese statesman Sheng Xuanhuai negotiated the Sino-British "Mackay Treaty," which anticipated the abolition of extraterritoriality in China. By late July 1902 the negotiations were reported as practically concluded when the British team arrived back in Shanghai, and the treaty was signed by Mackay and Sheng Xuanhua as representatives of their governments on 5 September 1902.
Later career
In 1907, he was re-appointed as a member of the Council of India for a further period of five years.
Mackay was largely responsible for solving India's currency problems and for the adoption of the Gold Standard, he was made a baron by King George V for his services to industry and nation in 1911. Mackay later served as Vice-President of the Suez Canal Company, Chairman of the Peninsular and Oriental Steam Navigation Company ("P&O") and a Director of the Anglo-Persian Oil Company and the National Provincial Bank.
Mackay was appointed a Companion of the Order of the Indian Empire (CIE) in 1891, a Knight Commander of the Order of the Indian India (KCIE) in 1894, a Knight Grand Cross of the Order of St Michael and St George (GCMG) in 1902 and a Knight Commander of the Order of the Star of India in 1910. In 1911 he was raised to the peerage as Baron Inchcape, of Strathnaver in the County of Sutherland. He chose the title to commemorate the Inchcape Rock, which lies off Arbroath, and Strathnaver in Scotland. In 1924 he was made a Knight Grand Commander of the Order of the Star of India and created Viscount Inchcape, of Strathnaver in the County of Sutherland. In 1929 he was even further honoured when he was made Viscount Glenapp, of Strathnaver in the County of Sutherland, and Earl of Inchcape.
Death and legacy
Mackay died on 23 May 1932 aboard his yacht Rover in Monte Carlo, Monaco. He left unsettled personal estate valued at £552,809 in Great Britain and was buried on the east side of Glenapp Church, Ballantrae, Ayrshire, close to the then family home at Glenapp Castle, on 31 May 1932. His ebony coffin with silver mountings carried his yachting cap and a wreath of lilies from his wife. Under the terms of his will, Mackay left £100 to each of the 202 commanders of P&O and BI vessels with £50 bequeathed to each of the 200 Chief Officers and 200 Chief Engineers "as a slight memento in acknowledgement of your loyalty and fidelity to me".
Family
Lord Inchcape married Jean Shanks on 10 July 1883. They had five children: