Palmer was born in London on 7 July 1779 and died at Hurlingham, Middlesex on 7 February 1858. His father, William Palmer, was a London merchant and magistrate and sheriff of Essex. His mother, Mary, was the daughter of John Horsley, the rector of Thorley, Hertfordshire, and Newington Butts, and sister of Bishop Samuel Horsley. In 1802, Palmer and his brother George entered into business with a Captain Wilson as East India merchants and ship owners. Palmer was a director of the Bank of England from 1811–57, and served as its governor from 1830–32.
From The Biographical Dictionary of British Economists in Oxford Reference.