The Business And Social Contact Of Thomas Coutts

In the 18th century,Britain was in a period of further development of the agricultural revolution and the initial breeding of the industrial revolution.The landowners,squires,and factory owners accumulated a large amount of capital in economic development.They urgently needed a reliable investment place.The banking industry developed in this period."A French historian of finance has casually asserted that the British industrial revolution was based on the banking revolution that took place before." The so-called financial revolution can refer to major changes in the banking industry,such as London and rural banking in the 18th century.The rise can also refer to major changes in the fiscal system,including changes in taxation powers and types of taxes,government fiscal revenue and expenditure agencies,and management of government debt.In the late 17th and early 18th centuries,London began to dominate British business and politics.By the late 19th century,London was the seat of government and courts,the only financial center,the only publishing center,and the location of most professionals.One in six Britons lived here.Private bankers in London gradually occupied an important position in the British financial industry in the eighteenth century.This article explores the economic life of London private bankers during this period,starting from the business and social affairs of Thomas Coutts,a private banker in London in the 18th centuryThis article is divided into three parts.The first part discusses the social relationship between Thomas Coutts and the British upper class.These upper classes are mainly the three categories of the British royal family,nobles and entertainment stars.By establishing close social relations with the upper classes,they become customers of Coutts Bank and it can enhance the strength and the influence of Coutts BankThe second part of this article discusses in detail how Thomas Coutts provided financial services to the upper classes in Britain.It is mainly divided into three aspects loan services,services for upper class financial affairs,and Thomas provides financial advice to the upper classesThrough close social relationships and financial services provided,Thomas not only made many upper classes become loyal customers of Coutts Bank,but also established deep friendships with them,won the trust of the upper classes,and thus gained a lot of political benefits.Part ? discusses in detail the privileges Thomas and his bank gained from the upper classes.