Thomas Clarkson, (c. January 26, 1802 – May 4, 1874), was an English Canadian merchant, banker, businessman, receiver, director, and associated with the Family Compact, although was noted for his desire to increase free trade relations with the United States whom he described as "Canada's most important traders and partners", even advocating for an ambassador be sent to D.C. to exert "some active, intelligent, and influential representation of the commercial interests of Canada near the controlling power of the United States" and reciprocity with the British West India Island.

[5] Thomas was a highly prominent early Toronto financier, described in a local paper following a June 1858 presentation of Handel's oratorio of Judas Maccabaeus in St Lawrence Hall, "as one of the distinguished patrons, which included such notables as Sir John Beverley Robinson and John A. Macdonald" [6] Thomas was born in Scotter, Lincolnshire in 1802 to Anglican parents, he emigrated to York, Upper Canada in 1832 aboard the packet ship the New York.

Thomas' sons had strong ties to the Gooderham and Jarvis' and had substantial land holdings on Toronto Island.

Clarkson unsuccessfully ran for political office against James Hervey Price in October 1844 for the first riding of York.

Alongside other grain merchants, he supported the establishment of, and played a critical role in, the formation of the Bank of Toronto.

In 1864, with economic prospects in Milwaukee worsening, Thomas became an assignee in bankruptcy for the province and contributed substantially toward early accounting practices in Canada.

[8] This company, Clarkson, Hunter and Company, became the foundation for the accounting firm Clarkson Gordon & Co. By 1872, Thomas had suffered a paralytic stroke and was unable to continue operating the grain storage elevator he had purchased in 1869, his work with the Produce Merchants Exchange, nor his assignee business.

ERC was a pioneer corporate rescues in Canada, eventually convincing the financial institutions who sought his counsel in winding-up to allow him to operate the business as a going concern.

[8] ERC was, by 1898, "Charged with the management of three-fourths of the large estates wound up in the Province of Ontario for many past years.