John Campbell, of The Bank

JOHN CAMPBELL

First Cashier of the Royal Bank of Scotland

Evidence from the National Records of Scotland

31 January 1777: Burial letter from John Campbell inviting George Innes to funeral of John Campbell [illegitimate son of Colin Campbell of Ardmaddy], first cashier of the Royal Bank, writer's father, from his house at the Royal Bank to the Canongate churchyard. National Records of Scotland, Papers of George Innes, reference GD113/3/1379

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No Date: There is a sad sequence of letters on the illness and death of Colin Campbell of Ardmaddy, Breadalbane's youngest son, of consumption in London in 1708, leaving one illegitimate son, John Campbell, later of the Royal Bank. National Records of Scotland Papers of the Campbell Family, Earls of Breadalbane (Breadalbane Muniments), reference GD112

Biographical Account Published by the Royal Bank of Scotland

John Campbell (c.1703-1777) was a Scottish banker and man of business. He worked for The Royal Bank of Scotland from its foundation in 1727, and was its cashier, 1745-77.

Background and early life

John Campbell was born in about 1703. His parents were Colin Campbell of Ardmaddy, youngest son of the 1st Earl of Breadalbane, and Grizelda Douglas. He was believed to have been illegitimate, although some evidence suggests that Colin and Grizelda were in fact married, but that the Earl disapproved of the match and therefore had all evidence of it destroyed.

Colin Campbell died when John was still an infant and it is not clear where John was brought up. He certainly remained closely connected with the Breadalbane Campbells. Grizelda Douglas died in 1732.

In 1718 Campbell was apprenticed to Colin Kirk, Writer to the Signet, for a term of three years. Kirk was the son of Robert Kirk, famous in Scottish lore as ‘the Fairy Minister’. The apprenticeship indenture was discharged in September 1722, after which Campbell seems to have remained at Kirk’s chambers. Colin Kirk died in 1725.

The Royal Bank of Scotland

In 1727, Campbell joined the staff of the newly established Royal Bank of Scotland, initially working in the accountant's office. He was appointed assistant secretary in 1732 and second cashier in 1734. It is probable that Campbell informally took on many of the day-to-day responsibilities of Allan Whitefoord, the first cashier, during this period.

In July 1745 Campbell succeeded to the post of first cashier, also known simply as cashier. During the Jacobite occupation of Edinburgh in September and October that year he was engaged in protecting the bank at a time of significant threat. The diary he kept during this time is preserved in the RBS Archives, and is an important source for studying Edinburgh during the ‘45 Jacobite Rising.

The Jacobite Rising of 1745

John Campbell’s diary recounts how the Jacobite army took control of Edinburgh on 17 September 1745. On 1 October, Bonnie Prince Charlie’s secretary informed John Campbell that he had £857 of Royal Bank banknotes and wanted payment for them in gold. If the bank failed to comply, the Jacobites would seize property from it and its directors to the value of the notes.

It was not immediately easy to meet the demand, because all the bank’s valuables, including its reserves of gold, had been moved to Edinburgh Castle for safekeeping during this time of turmoil. At first, it had been possible to get access to the Castle when necessary, but by this time the Castle – still in government hands – was locked down, while the rest of the city was under Jacobite control. Just a few days earlier, Campbell and some colleagues had been refused access to the castle, despite waiting at the gates for an hour.

Campbell sought and obtained a special pass from the Jacobite authorities permitting him to pass through the streets safely on his way to the castle. He also wrote ahead to the castle warning its commander that he would be asking for access. The commander implied he would be allowed in, but refused to guarantee it in writing.

Campbell, accompanied by colleagues and directors from the bank, made his expedition to the castle on 3 October 1745. He successfully gained access, withdrew the gold to meet the Prince’s demands (which by now had risen to over £3,000), and more to meet any imminent further demands. He also destroyed a large quantity of unissued notes to remove the risk of them entering circulation and becoming an additional liability. While he worked, shooting went on between government forces in the castle and Jacobites outside.

He paid the money to the Prince’s secretary at his office later that evening. The Jacobite army left Edinburgh on 1 November, marching on into England in a bid to claim the British throne. The army’s progress into England was funded in no small part by the gold it had received from The Royal Bank of Scotland.

RBS Heritage Hub: John Campbell, Scottish banker and man of business