Same Old Game!: The Baring Crisis of 1890 - Risk and Reward

By David J Tearle

In 1995 Nick Leeson brought Barings Bank to its knees by reckless speculation in Singapore. The most famous bank in the world was gone. Less widely known is the collapse of Barings Bank almost 100 years earlier, in November 1890. This time the reckless speculation was in South America, and not by an employee out of his depth but by its senior partner - and the sum involved, in today's terms was the same 1 billion! This book tells the story of the "Baring Crisis of 1890" and how two sisters from Devon captured two partners of Barings and persuaded them to recover their lost inheritance - the Flete and Membland Estates. But this principality in South Devon did not last. Rivalries and indulgence took their toll a speculation too far brought Barings Bank to the verge of bankruptcy - with tragic results for the key players in this Victorian melodrama. The success and subsequent failure of the bank is also about four families whosehistory runs in parallel with the unfolding events in South America that were destined to run Barings onto the rocks.On Saturday 8th November 1890, Lord Revelstoke, Francis Baring and Everard Hambro met William Lidderdale, the Governor of the Bank of England and Baring Bank's calamitous situation started to emerge. Lidderdale sent a note to the Chancellor of the Exchequer, George Goschen "hoping that he might be in town early on Monday morning the 10th November". Lidderdale spent an anxious weekend knowing what was about to happen. Lord Goschen spent an anxious weekend not knowing what was about to happen. He need not have waited until the Monday to find out, because on Saturday 8th, Punch Magazine published the John Tenniel cartoon, "Same Old Game!" Someone was very well informed indeed.................Same Old Game reveals the remarkable story of "The Baring Crisis of 1890"......

• Format: Paperback
• Language: English
• ISBN: 0995773319
• ISBN13: 9780995773318
• Release Date: April 2018
• Publisher: Incorporated History Press
• Length: 320 Pages
• Weight: 0.95 lbs.
• Dimensions: 0.7" x 6.0" x 9.0"