Henry Hope
Encyclopedia
Henry Hope was an Amsterdam
Amsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...

 merchant banker born in Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...

, in Britain's Massachusetts Bay Colony
Massachusetts Bay Colony
The Massachusetts Bay Colony was an English settlement on the east coast of North America in the 17th century, in New England, situated around the present-day cities of Salem and Boston. The territory administered by the colony included much of present-day central New England, including portions...

 in North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...

.

Early years

His father, Henry, was a Rotterdam
Rotterdam
Rotterdam is the second-largest city in the Netherlands and one of the largest ports in the world. Starting as a dam on the Rotte river, Rotterdam has grown into a major international commercial centre...

 merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...

 of Scottish lineage who left for the "new world" after experiencing financial difficulties in the economic bubble
Economic bubble
An economic bubble is "trade in high volumes at prices that are considerably at variance with intrinsic values"...

 of 1720. Though born in Rotterdam, he was considered Scottish because his father and brothers were members of the Scottish Church in Rotterdam. For these reasons, Henry Hope the younger is usually referred to as Scottish, though he was born in America and emigrated to the Netherlands to join the family business at a young age. Henry the elder settled near Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...

 in the 1720's and became a freemason and merchant. When his son Henry the younger was 13, he sent him to London for schooling, and six years later in 1754 he became apprenticed there to Henry Hoare of the well-known banking firm called Gurnell, Hoare, & Harman.

In 1762, he accompanied his only sister, Harriet, to the Netherlands when she married the son of a Rotterdam
Rotterdam
Rotterdam is the second-largest city in the Netherlands and one of the largest ports in the world. Starting as a dam on the Rotte river, Rotterdam has grown into a major international commercial centre...

 merchant and business associate, John Goddard. Henry went to work for his uncles, Thomas and Adrian, together with his cousin, Jan Hope
Jan Hope
John Hope , also known as Jan Hope, was the son of Thomas Hope and Margaretha Marcelis, first cousin of Henry Hope, father of Thomas Hope, and a follower of the Scottish Enlightenment, who is best known today for his Groenendaal Park in Heemstede, Netherlands, where he summered from 1767 to his...

 (who at 26 opted to be baptized a second time as "John"), in the family business in Amsterdam
Amsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...

. Eighteenth-century Amsterdam was the largest port in Europe and the continent's center of commerce and merchant banking. By that time, the Hope brothers were already established as leading merchants in the Netherlands, but when the younger Hopes joined the Amsterdam branch, the name was changed from Hope Brothers (more familiarly, "the Hopes") to Hope & Co.
Hope & Co.
Hope & Co. is the name of a famous Dutch bank that spanned two and a half centuries. Though the founders were Scotsmen, the bank was located in Amsterdam, and at the close of the 18th century it had offices in London as well.-Early days:...

. Hope & Co. soon played a major part in the finances of the Dutch East India Company (VOC).

Career as a merchant

In the aftermath of the Seven Years War, Hope & Co. entered the arena of international banking, arranging for loans to the governments of Sweden, Russia, Portugal and Bavaria. Sometimes the loans were Henry Hope's own funds, but usually Henry Hope headed a consortium of English and Dutch investors that fronted the money, with Hope & Co. collecting a commission that ranged between 5-9%. The firm also specialized in loans to planters in the West Indies, taking payment in kind: sugar, coffee or tobacco, which the Hope's would then sell on the Amsterdam market.

In exchange for loans to the King of Portugal, Hope & Co received an exclusive concession to sell diamonds originating in the Portuguese colony of Brazil. The Hopes would accept the diamonds and sell them on the Amsterdam market; then they used the proceeds to defray the interest and principal of the loans they had made to Portugal. These sales helped to make Amsterdam the leading diamond center of Europe.

The most important client of Hope & Co. was Catherine the Great of Russia. In addition to the large loans it made to Russia, Hope & Co. obtained the right to export sugar to Russia, and the firm acted as agents for sales of Russian wheat and timber to countries throughout Europe. During the 1780s, Catherine the Great offered Henry Hope a title, which he declined, feeling advancement to the nobility was incompatible to his position as a working merchant banker. Both Henry and Catherine were leading art collectors, and Henry Hope sometimes acted as an art dealer.

Family

Through their activities as merchants and bankers, Henry Hope and his cousin, Jan Hope, amassed great fortunes. They were among the richest men in Europe. Jan married the daughter of a Rotterdam mayor and had three sons. Henry never married, but he took in the young clerk John Williams, a Cornishman working at another merchant house in Amsterdam, when he was sick. After he recovered, he went to work for Henry as the daily manager and when he married Henry's sister's daughter in 1782, he changed his name to John Williams Hope and became partner in the Amsterdam branch. When Jan/John Hope died in 1784, it became especially good for the business to have another person on hand who could sign the name "John Hope". This was also the reason that John Williams Hope stayed behind in Amsterdam during the French occupation when the rest of the family fled to London.

Welgelegen

Today Henry Hope is best known for his summer home, the Villa Welgelegen
Villa Welgelegen
Villa Welgelegen is a historical building in Haarlem, the Netherlands, which currently houses the offices of the provincial executives of North Holland. Located at the north end of a public park in the city, it is an example of neoclassical architecture, unusual for its style in the...

. Thanks to his command of English, French, and Dutch, he was adept at establishing far-flung business relationships, and he had many influential friends. He acquired a large art collection and built the villa Welgelegen in Haarlem
Haarlem
Haarlem is a municipality and a city in the Netherlands. It is the capital of the province of North Holland, the northern half of Holland, which at one time was the most powerful of the seven provinces of the Dutch Republic...

 to house the collection. The villa was erected on the grounds of a former summer home he had acquired in 1769 on the Haarlem border of Heemstede
Heemstede
Heemstede is a municipality and a town in the Netherlands, in the province of North Holland.-History :Heemstede formed around the Castle Heemstede that was built on the Spaarne River around 1286. Before 1296, Floris V, Count of Holland, granted Heemstede as a fiefdom to Reinier of Holy...

. Building this summer palace, a five-year project, became a summer attraction in its own right, rivaling the neighboring park, Groenendaal
Groenendaal Park
Groenendaal park lies at the center of Heemstede, Netherlands.The park includes the grounds of old Heemstede country estates Bosbeek, and Meer en Berg. Along its western borders are the old Heemstede country estates Hartekamp, Huis te Manpad, and Iepenrode. On the eastern boundary is the city...

, established in Heemstede
Heemstede
Heemstede is a municipality and a town in the Netherlands, in the province of North Holland.-History :Heemstede formed around the Castle Heemstede that was built on the Spaarne River around 1286. Before 1296, Floris V, Count of Holland, granted Heemstede as a fiefdom to Reinier of Holy...

 by his cousin, partner, and neighbor, Jan (John) Hope. In 1781, Henry started receiving uninvited visitors to view the gardens and expansion process. The execution of these ambitious plans did not seem to make a dent in his enormous wealth; in 1782, he purchased Hope Lodge (Fort Washington, Pennsylvania) as a wedding gift for the son of his American cousin, Maria Ellis.

At Welgelegen he received many of the important figures of the day, and, during the summer each year, he was a neighbor of many of them. As an American (though considered English until well into the 1780s), he knew and received the Americans, Thomas Jefferson
Thomas Jefferson
Thomas Jefferson was the principal author of the United States Declaration of Independence and the Statute of Virginia for Religious Freedom , the third President of the United States and founder of the University of Virginia...

, Benjamin Franklin
Benjamin Franklin
Dr. Benjamin Franklin was one of the Founding Fathers of the United States. A noted polymath, Franklin was a leading author, printer, political theorist, politician, postmaster, scientist, musician, inventor, satirist, civic activist, statesman, and diplomat...

, and John Adams
John Adams
John Adams was an American lawyer, statesman, diplomat and political theorist. A leading champion of independence in 1776, he was the second President of the United States...

, who came to Europe for trade negotiations. Henry Hope was an Orangist
Orangism (Netherlands)
Orangism is a monarchist political support for the House of Orange-Nassau as monarchy of the Netherlands. It played a significant role in the political history of the Netherlands since the Dutch revolt...

 and received the future William V of Orange whom he knew through his uncle, the elder Thomas Hope. Prince William's wife, Wilhelmina of Prussia, Princess of Orange
Wilhelmina of Prussia, Princess of Orange
Wilhelmina of Prussia, born Frederika Sophia Wilhelmina, , was the consort of William V of Orange and also the de facto leader of the dynastic party and contra revolution in the Netherlands...

, spent her summers there after her husband's death until her own death in 1820.

Henry is said to have been influenced in his choice of the Neo-Classical style
Jeffersonian architecture
Jeffersonian Architecture is an American form of Neo-Classicism or Neo-Palladianism embodied in American president and polymath Thomas Jefferson's designs for his home , his retreat , his school , and his designs for the homes of friends and political allies...

 by the Hôtel de Salm in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...

, built in 1782 by his friend Frédéric III, Rhinegrave of Salm-Kyrburg
Salm-Kyrburg
Salm-Kyrburg was a state of the Holy Roman Empire located in present-day Rhineland-Palatinate, Germany, one of the various partitions of Salm. It was twice created: the first time as a Wild- and Rhinegraviate , and secondly as a Principality...

. Thomas Jefferson
Thomas Jefferson
Thomas Jefferson was the principal author of the United States Declaration of Independence and the Statute of Virginia for Religious Freedom , the third President of the United States and founder of the University of Virginia...

 made sketches of both buildings. This Prince de Salm was a business relation as well as a friend, and he became, during the 'Patriotic Period' (1782-1787), a mediator between France and the Netherlands and the leader of a patriotic defense at Utrecht
Utrecht (city)
Utrecht city and municipality is the capital and most populous city of the Dutch province of Utrecht. It is located in the eastern corner of the Randstad conurbation, and is the fourth largest city of the Netherlands with a population of 312,634 on 1 Jan 2011.Utrecht's ancient city centre features...

 in September 1787. After his defeat, the prince, heavily criticized, fled to Amsterdam where, it is said, he hid in Henry Hope's house on the Keizersgracht for months.

The Wealth of Nations

From 1779, Henry became the manager of Hope & Co. and he, his art collection, and his company were famous. In 1786 Adam Smith
Adam Smith
Adam Smith was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations...

 dedicated the fourth edition of his book 'The Wealth of Nations
The Wealth of Nations
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith...

' to Henry Hope in hopes of increasing his readership:


In this fourth Edition I have made no alterations of any kind. I now, however, find myself at liberty to acknowledge my very great obligations to Mr. HENRY HOP of Amsterdam. To that Gentleman I owe the most distinct, as well as liberal information, concerning a very interesting and important subject, the Bank of Amsterdam; of which no printed account had ever appeared to me satisfactory, or even intelligible. The name of that Gentleman is so well known in Europe, the information which comes from him must do so much honour to whoever has been favoured with it, and my vanity is so much interested in making this acknowledgment, that I can no longer refuse myself the pleasure of prefixing this Advertisement to this new Edition of my Book.

Relocation to London

Henry Hope fled to London in 1794 before the French revolutionary forces. In the Amsterdam archives of Hope & Co.
Hope & Co.
Hope & Co. is the name of a famous Dutch bank that spanned two and a half centuries. Though the founders were Scotsmen, the bank was located in Amsterdam, and at the close of the 18th century it had offices in London as well.-Early days:...

 it states that he took 372 paintings with him. Among these were important works by Frans Hals
Frans Hals
Frans Hals was a Dutch Golden Age painter. He is notable for his loose painterly brushwork, and helped introduce this lively style of painting into Dutch art. Hals was also instrumental in the evolution of 17th century group portraiture.-Biography:Hals was born in 1580 or 1581, in Antwerp...

, Peter Paul Rubens, Rembrandt and Sir Anthony van Dyck. He started a London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 branch of Hope & Co. and became friendly with Francis Baring with whom he entered upon many large land deals with various royal names. He clearly shared the genius of his uncle Thomas Hope (the elder), who had died in 1779, leaving him the business in Amsterdam to share with his cousin Jan Hope
Jan Hope
John Hope , also known as Jan Hope, was the son of Thomas Hope and Margaretha Marcelis, first cousin of Henry Hope, father of Thomas Hope, and a follower of the Scottish Enlightenment, who is best known today for his Groenendaal Park in Heemstede, Netherlands, where he summered from 1767 to his...

, who died 5 years later in 1784 unexpectedly in the Hague
The Hague
The Hague is the capital city of the province of South Holland in the Netherlands. With a population of 500,000 inhabitants , it is the third largest city of the Netherlands, after Amsterdam and Rotterdam...

.

Land deals

The largest land deal that he and Barings entered upon was the issue of shares to finance the Louisiana Purchase
Louisiana Purchase
The Louisiana Purchase was the acquisition by the United States of America of of France's claim to the territory of Louisiana in 1803. The U.S...

 in 1804, more than a year after the treaty was signed. He and Barings had been working on the deal for almost a decade, and sent young Alexander Baring
Alexander Baring, 1st Baron Ashburton
Alexander Baring, 1st Baron Ashburton PC was a British politician and financier.-Background:Baring was the second son of Sir Francis Baring, 1st Baronet, and of Harriet, daughter of William Herring...

 as their agent to act in America, where he first negotiated a large land deal in Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...

, then still a part of Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...

. While there, Alexander Baring helped settle a treaty with David Cobb
David Cobb
David Keith Cobb is an American activist and was the 2004 presidential candidate of the Green Party of the United States .-Career and political activities:...

. The deal, completed in February 1796, gave Mr. Baring one-half interest in the "Penobscot million" and one-half interest in a third tract of acquired property north of this 1 million-acre (4,000 km²) expanse. Baring, to become the first Baron Ashburton
Baron Ashburton
Baron Ashburton, of Ashburton in the County of Devon, is a title that has been created twice, once in the Peerage of Great Britain and once in the Peerage of the United Kingdom.-History:...

, was himself to play a role in both the economic and political history of Maine in general and Down East Maine in particular. Along with Daniel Webster
Daniel Webster
Daniel Webster was a leading American statesman and senator from Massachusetts during the period leading up to the Civil War. He first rose to regional prominence through his defense of New England shipping interests...

, he negotiated the treaty that resolved the disputes over Maine's northwest boundary (Henry had family in Nova Scotia
Nova Scotia
Nova Scotia is one of Canada's three Maritime provinces and is the most populous province in Atlantic Canada. The name of the province is Latin for "New Scotland," but "Nova Scotia" is the recognized, English-language name of the province. The provincial capital is Halifax. Nova Scotia is the...

).

Legacy

Though he always hoped to return to his beloved Welgelegen, Henry died childless in London in 1811, leaving a capital of 12 million guilders, an art collection, and several large properties. He was a generous uncle to his many nieces and nephews in London, Heemstede, and Pennsylvania. On his death, his accumulated wealth was split between the children of his cousin Jan (who inherited Deepdene
Dorking
Dorking is a historic market town at the foot of the North Downs approximately south of London, in Surrey, England.- History and development :...

), the children of his cousin Maria (who inherited Hope Lodge
Hope Lodge
Hope Lodge is a historic building located at 553 South Bethlehem Pike in Fort Washington, Pennsylvania, in the United States.-History:Originally named "Whitemarsh Estate," Hope Lodge is a Georgian country mansion built between 1743 and 1748 by Quaker businessman Samuel Morris and designed by...

), and the children of his sister Harriet (who inherited villa Welgelegen
Villa Welgelegen
Villa Welgelegen is a historical building in Haarlem, the Netherlands, which currently houses the offices of the provincial executives of North Holland. Located at the north end of a public park in the city, it is an example of neoclassical architecture, unusual for its style in the...

). Before his death, he commissioned a family portrait with his sister Harriet and the family of his adopted son John Williams Hope and Harriet's daughter Ann. The painting, by Benjamin West
Benjamin West
Benjamin West, RA was an Anglo-American painter of historical scenes around and after the time of the American War of Independence...

, shows a model of Welgelegen that sits above a mahogany chest, probably designed by Thomas Hope
Thomas Hope
Thomas Hope , was a Dutch and British merchant banker, author, philosopher and art collector, best known for his novel Anastasius a work which many experts considered a rival to the writings of Lord Byron...

. The painting currently hangs in the Museum of Fine Arts
Museum of Fine Arts, Boston
The Museum of Fine Arts in Boston, Massachusetts, is one of the largest museums in the United States, attracting over one million visitors a year. It contains over 450,000 works of art, making it one of the most comprehensive collections in the Americas...

 in Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...

. A fitting place, since it is built itself in the neo-classical style and is so close to where Harriet and Henry were born, in Braintree
Braintree, Massachusetts
The Town of Braintree is a suburban city in Norfolk County, Massachusetts, United States. Although officially known as a town, Braintree adopted a municipal charter, effective 2008, with a mayor-council form of government and is considered a city under Massachusetts law. The population was 35,744...

.

Source

  • Buist, M.G. (1974) At spes non fracta: Hope & Co. 1770-1815. Merchant bankers and diplomats at work. Den Haag, Martinus Nijhoff. ISBN 90-2471629-2
  • Hope & Co. archives at the Amsterdam city archives
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