Historian Martyn Taylor tells the story of James Oakes, one of Bury St Edmunds' most famous sons

Though not nationally known, James Oakes (1741-1829) was one of the town's most famous sons, probably referred to as Mr Bury St Edmunds in his day.

He started his working life as a yarn maker after inheriting the business from his uncle, Orbel Ray. The family wool combing sheds were in St Andrew's Street South, but when the woollen industry went into decline at the end of the 18th century, James Oakes sought another business opportunity, banking.

For nearly 50 years from 1778 James also kept diaries in a form of shorthand, chronicling Georgian daily and social life at the end of the 18th century and early 19th century. Purchased by the Suffolk Records Office (now Suffolk Archives), they were transcribed by Dr Jane Fiske, a notable achievement.

Being a devout family man, James was Alderman (mayor) of the town five times and spread his largesse widely, treating his workers fairly. He gave to the corporation the mayoral chain and purchased the Great Churchyard for it in 1798.

However, he was also shrewd and when the opportunity arose to become the Receiver of Taxes for the Western Division of Suffolk in 1787, he grabbed it with both hands as it allowed him to hold money on deposit at his bank for six months before paying it to the government.

The Oakes family bank, the Bury and Suffolk Bank, stood where Lloyds Bank is now in Buttermarket.

In 1789, the notable Bank of England architect John Soane (not yet knighted) oversaw the building of extensions to Oakes’s house, 81 Guildhall Street. On one side was a large banking hall and on the other a large dining room, the two wings complementing each other perfectly.

James was political agent for the Duke of Grafton and moved in the higher echelons of local society. He served the borough as a JP for nearly 45 years and was also involved with several charities.

His diary entries were curtailed by ill health in October 1827, and he died in January 1829. With his wife, Elizabeth, he is buried in St Mary’s Church.

Martyn Taylor is a local historian, author and Bury Tour Guide. His latest book, Going Underground: Bury St Edmunds, is widely available.