Edgar Speyer

Who was Edgar Speyer?

Sir Edgar Speyer, 1st Baronet was an American-born financier and philanthropist. He became a British subject in 1892 and was chairman of Speyer Brothers, the British branch of the Speyer family's international finance house, and a partner in the German and American branches. He was chairman of the Underground Electric Railways Company of London from 1906 to 1915, a period during which the company opened three underground railway lines, electrified a fourth and took over two more.

Speyer was a supporter of the musical arts and a friend of several leading composers, including Edward Elgar, Richard Strauss and Claude Debussy. He was chairman of the Classical Music Society for ten years, and he largely funded the Promenade Concerts between 1902 and 1914. His non-musical charitable activities included being honorary treasurer of the fund for Captain Scott's Antarctic expedition. For his philanthropy he was made a baronet in 1906 and a Privy Counsellor in 1909.

After the start of the World War I, he became the subject of anti-German attacks in the Press. In 1915, Speyer offered to resign from the Privy Council and to relinquish his baronetcy, but the Prime Minister turned down the offer. He resigned as chairman of the UERL and went to the United States. In 1921, the British government investigated accusations that Speyer had traded with the enemy during the war, and had participated in other wartime conduct incompatible with his status as a British subject. Speyer denied the charges, but his naturalisation was revoked and he was struck off the list of members of the Privy Council.