He was the son of and Mary Anne Saunders of Fernill,
Berkshire. His father was founder J K Gilliat and Company, a
merchant banking company that traded in
England and
America. He was educated at
Harrow School, and matriculated at
University College, Oxford in 1848, graduating B.A. in 1851, M.A. in 1856. In 1860 he married Louisa Babington, daughter of Matthew Babington of Rothley and Frances Sykes, with whom he had six children. His daughter, Ida Sophia Gilliat, married
George Vere Hugh Cholmondeley (b. 13 Sep 1871, d. 28 Mar 1925). In 1862 he joined the court of the
Bank of England, and was
Governor from 1883 to 1885, Gilliat's tenure as Governor occurred during the
Panic of 1884. In 1886, he was elected as Conservative
Member of Parliament for the
Clapham constituency of
south London. In 1891 he put his name forward as Conservative candidate for the parliamentary seat of
St Albans, but withdrew his candidacy. He was eventually chosen to contest
Widnes when the sitting MP,
T C Edwards-Moss retired for health reasons. He held the seat until 1900. Gilliat made his home at
Chorleywood,
Hertfordshire. On his death at the age of 82 in 1912 Gilliat was the oldest member of the Court of the Bank of England. ==References==