ms and institutions caused his appointment
in 1842 as commissioner to the United States to negotiate the settlement of
the north-eastern boundary question and other matters in dispute between
the two countries, and he concluded in that year at Washington the treaty,
commonly known as the Ashburton treaty, by which the frontier between Maine
and Canada was fixed. After his death in 1848 the affairs of the house were
managed by THOMAS BARING (1799-1873), the son of Sir Thomas Baring. Thomas
Baring represented Huntingdon in parliament from 1844 till his death. His
elder brother, Sir FRANCIS THORNHILL BARING (1796-1866), sat for Portsmouth
from 1826-1865. From 1839-1841 he was chancellor of the exchequer, and from
1849-1852 first lord of the admiralty. In 1866 he was created BARON
NORTHBROOK, the barony being converted in 1876 into an earldom in favour of
his eldest son Thomas George Baring (1826-1904). The latter, the 1st EARL
OF NORTHBROOK, was occupied almost entirely with public affairs, and filled
at different times many important official positions. He is best remembered
as viceroy of India, which office he held from 1872-1876, but his last
public position was first lord of the admiralty (1880-1885). With the death
of Thomas Baring, Edward Charles Baring (1828-1897), son of Henry Baring,
M.P., and grandson of Sir Francis Baring, became head of the firm of Baring
Brothers, and in 1885 was raised to the peerage as BARON REVELSTOKE. The
house of Baring then stood at the height of its prosperity. During the
following years a large amount of English capital was advanced to the
Argentine Republic, Barings undertaking the loans and guaranteeing the
interest. Through the continued default of the Argentine government,
Barings became seriously involved, their heavy obligations precipitating a
general financial crisis. Towards the end of 1890 it became known that the
firm was on the eve of suspending payment, with liabilities amounting to
L21,000,000. The prompt action of the Bank of England, which in conjunction
with the leading joint-stock banks of the United Kingdom took over these
liabilities, averted further disaster, and the firm of Baring Brothers was
subsequently reorganized as a limited company with a capital of L1,000,000.
Besides those already referred to, various other members of the Baring
family have achieved public distinction, notably Charles Baring
(1807-1879), bishop of Durham, and Evelyn Baring, 1st Earl of Cromer