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Henry Hucks Gibbs was born in London and educated at Rugby School and at Exeter College, Oxford. After graduating in 1841 he joined the family firm; when his father died the following year, as the eldest son he inherited the family estates, which he insisted on sharing with other family members. Instead of becoming just a landed gentleman, Gibbs embarked on a successful career as a merchant banker in the City of London, though his advocacy of a bimetallic currency standard was not shared by many of his contemporaries. He became a director of the Bank of England in 1853 and served as its governor during 1875-1877. Gibbs served as Conservative MP for the City of London between 1891 and 1892, and in 1896 was granted a peerage as Baron Aldenham. He also had strong literary and sporting interests, and served on the council of the English Church Union.