Thomas Raikes Thomas Raikes Thomas Raikes ("the Elder") (28 March 1741 – 29 December 1813) was a British merchant particularly trading from London with Russia, a banker and newspaper proprietor. Notably, he was Governor of the Bank of England during the 1797 currency crisis, when the Bank was prohibited by the British Government from paying out in gold. Raikes was born at Gloucester in 1741, third son of Robert Raikes the Elder and Mary Drew. His brothers included Robert Raikes, the founder and promoter of Sunday schools, and William Raikes, a director of the South Sea Company. Raikes was Governor of the
Thomas Raikes (dandy) he retained, despite continuing trips to Europe. In 1814, Raikes was at the Hague, where he stayed in the house of the British ambassador, Richard Trench. He visited Paris three times (1814, 1819, and 1820), and spent the winter of 1829–30 in Russia. In 1833, he left London for France, where he remained for eight years. In 1841 the Tory Party took government in the UK, and Raikes, in the hope of securing a post under the patronage of the new Prime Minister, Robert Peel, returned to London. He was unsuccessful in securing a position and divided his time over