Preceded by John Lyon Died 1571 Name William Garrard | Occupation merchant Succeeded by Thomas Offley | |
William Garrard Reed Finance Center
Sir William Garrard (b. 1507- d. 1571), from a gentry family in Kent, was a businessman and banker in the City of London who was active in local and national government and acquired country landholdings. He is notable for his efforts in two different fields, one being expansion of English trade with Russia and West Africa while the other was practical help for poor and sick inhabitants of London.
Contents
- William Garrard Reed Finance Center
- Early life
- Public service
- Hospitals
- School Trustee
- Merchant
- Royal financier
- Voyages and trade
- Exclusive trading rights with Russia
- Royal Exchange
- Family
- References
Early life
He was born by 1518 in London, the son of John Garrard, a businessman in the City as a member of the Grocers' Company. His father's family were minor landowners at Sittingbourne, descended from Sir Simon Attegare, born about 1365, whose son Stephen changed his family name to Garrard. Growing up in the parish of St Magnus-the-Martyr near London Bridge, he became a member of the Haberdashers' Company and involved himself in public affairs.
Public service
In 1545, he was appointed by the Court of Aldermen as a Surveyor of the Poor, with the duties of trying to find ways to combat poverty. He served in that position until 1549, while also serving as the Treasurer of St. Bartholomew's Hospital between 1548-1549. During this time was an Alderman for the London ward of Aldgate between 1547-1550. He would also serve as an Alderman for the London wards of Broad Street between 1550–1556 and Lime Street between 1556-1571.
In 1552, he was elected Sheriff of London, serving a term. In 1555, he was elected Lord Mayor of London, and he was also knighted that same year. In 1556 he became Auditor of London, and in 1557, he was elected as Member of Parliament for City of London.
Hospitals
Garrard dedicated his time to drawing up constitutions for new hospitals, in which he would serve as President of Christ's Hospital between 1553–1554, Bridewell Hospital between 1558–1559, and St. Bartholomew's Hospital from 1559-1571. He was the Surveyor of Hospitals between 1566–1567, and Comptroller-General of the city's hospitals from 1568 until his death.
School Trustee
Together with Sir William Petre and Simon Lowe, he was an executor of the will of Maurice Griffith, Bishop of Rochester, the three having also been mourners at his funeral. In consequence of this, these three played a part as the initial trustees in the founding of Friars School, Bangor.
Merchant
He was a Master of the Haberdashers Company in 1557, as well as a member of the Company of Merchant Adventurers to New Lands. He was a consul of the Russia Company between 1555–1556, and Governor from 1561 until his death, which was also referred to as his company by this time. Garrard served as the Governor of the Company of Mineral and Battery Works in 1568, and he was considered one of the great merchants of London.
Royal financier
In 1552, William Cecil on behalf of King Edward VI, negotiated a £40,000 loan from the Merchant Adventurers through Garrard. In 1561, Garrard, along with Sir William Chester, loaned £30,000 to Queen Elizabeth I, in which she personally exempted them from usury laws, allowing them to receive 10% interest on their loan.
Voyages and trade
Garrard financed a voyage to Barbary in 1552, which introduced him to the slave trade. Several voyages to Guinea would follow, including voyages in 1553 and 1567. Garrard was one of the original developers of the Moroccan trade in 1553. That year he also helped finance the first voyage of the Russia Company, an attempt by Sir Hugh Willoughby to find a Northeast Passage.
In 1564, Garrard helped finance Sir John Hawkins second voyage, in which fundraising for the trip was done through a meeting at his personal residence. He would also support Hawkins' third voyage, which ended in disaster and cost Garrard £21,000.
Exclusive trading rights with Russia
In 1567, Tsar Ivan IV granted exclusive trading rights to Garrard's Russia Company. The Tsar wrote a letter to Queen Elizabeth I personally awarding the rights to Garrard, as well as several others within the company.
Royal Exchange
In 1566, Garrard contributed financing toward the creation of Sir Thomas Gresham's first Royal Exchange. Garrard would be named a commissioner of the undertaking. In February 1566, a group of men met at Sir John Rivers' residence to celebrate the finalization of the plans for the exchange, in which Gresham personally thanked Garrard in front of the crowd. The building was opened in 1570 during a celebration by the Queen.
Family
Before 1539, he married Isabel Nethermill, sister of the Coventry MP Sir John Nethermill and daughter of Coventry businessman Julian Nethermill (died 11 April 1539) and his wife Joan. Of their children: