Elihu Yale's life spanned a time of great changes in
British History and also great achievements in the spheres of the Arts and
Sciences, development in the form of government, the foundation of the
British Empire and the expansion of trade and
commerce.
Yale's father was taken to
America (seventeen years after the first settlers sailed in the
'Mayflower') by his stepfather to avoid discrimination against the
Puritans during the reign of Charles I.
Elihu was born in the same
year that Charles I was executed and Oliver Cromwell came to power. Rule
by an absolute monarch was succeeded by rule by a dictator both apparently
equally intolerant of those subscribing to any religion other than their
own. The family returned to England during the Commonwealth and must have
witnessed the collapse of the Commonwealth after the death of Cromwell and
the triumphant return of the Stuarts in the person of Charles
II.
These were exciting and
dangerous times. Elihu must have been in his father's counting house in
London during the Great Plague and the Great Fire and during the wars with
the Dutch when the Dutch fleet sailed up the Thames, setting fire to
British warships and temporarily cutting off London from the sea. This was
also the period when Charles II founded the Royal Society to encourage the
Arts and Sciences. The age of Isaac Newton, Christopher Wren, the poets
John Milton and Dryden and many others.
While Yale was in India he
will have heard of events at home; the accession of James II, the failure
of the Monmouth rebellion and the bloody revenge meted out to the rebels
by the notorious Judge Jeffreys, the flight of James II and the Glorious
Revolution, when William of Orange and Mary were welcomed to the throne of
England and James' final defeat at the Battle of the Boyne which
consolidated William's hold over Ireland.
During this period the
foundations of the British Empire were laid. The colonies in the New World
were strengthened by emigration from Britain. Trading posts were
established on the coast of India which would eventually lead to the
inclusion of the whole of the subcontinent as a British
possession.
After Yale returned from India
Queen Anne came to the throne and the Duke of Marlborough won his famous
victories against the French. Then in 1714 the Georgian era started with
the accession of George I. This was the time when government by Parliament
and Cabinet as we know it today first started with Robert Walpole the
first Prime Minister in all but name. Walpole was appointed in 1721, the
year of Elihu's death.
This was also a time when
trade and commerce greatly expanded and prospered. When Elihu went to
India as a humble 'writer' the East India company was notorious for the
small salaries it paid to their servants. Even the Governor was only paid
£100 per year. They were no doubt expected to make money by trading with
the natives on their own account. Elihu succeeded so well that after
twenty seven years in India he returned home with a fortune which would
today be considered suitable for a multi- millionaire. This was a period
when great fortunes could be made and lost. The South Sea bubble brought
misfortune to many through the greed of both unscrupulous promoters and
gullible investors. It was a period of bribery and corruption; parallels
can be drawn even today with several spectacular failures of finance
companies. Also in this period another great institution was founded - the
Bank of England. Although a private bank founded by Charter from William
III it was closely associated with the Government.
Elihu Yale was one of the
first to return from India with a fortune and consequently to be accused
of sharp practice.
In the following years other
servants of the East India Company were to be similarly treated, notably
Warren Hastings and Robert Clive whose reply to his accusers is well known
- 'By God, Mr Chairman, at this moment I stand astonished at my own
moderation'.
Elihu Yale is one of those
remarkable characters who become a legend in their own lifetime. He is now
best known as the man after whom Yale University was named and who is
remembered by the Epitaph (composed by himself!) on his tomb in Wrexham
Churchyard. This website is a brief attempt to tell his story in terms of
his epitaph in Wrexham Churchyard, North Wales, and to encourage the
reader to visit the places associated with
him. |