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
Robert Raikes the Elder employed by a wealthy distiller, Samuel Hasbart, to launch a newspaper in Norwich. Hasbart commissioned Raikes to print a newspaper in favour of the tory party, in opposition to the whig-leaning "Norwich Gazette". Raikes' newspaper was unsuccessful, and failed after a few weeks. By June, Raikes had moved to Huntingdonshire, where he launched the "St Ives Post Boy". On 2 May 1720, Raikes, in partnership with William Dicey, founded the "Northampton Mercury". A year later, the partners set up a second press in Northgate Street, Gloucester, from where the "Gloucester Journal" first appeared on 9 April 1722. In September 1725,