These merchants of the Hanseatic League in London formed a rich corporation of considerable numerical strength, whose beginnings went back to the very early days of English history. Some of its most valuable privileges and trading monopolies were granted it by Richard I and Edward III, in return for moneys lent, monopolies which hampered English trade for centuries afterwards. This colony had always occupied a part of the river bank above London Bridge, on the site of what is now the South-Eastern Railway Station in Cannon Street.[3] Their buildings were surrounded by a turreted wall, which stretched from the river northward to Thames Street, and from Allhallows Street on the east to Cosin (Cousins) Lane on the west, their property extending towards Dowgate. Entrance in the principal front in Thames Street was by three fortified gateways, above which the Imperial double-eagle floated, and within stood their old stone Guildhall, with a pleasant garden planted on one side with fruit trees and vines after the fashion of their fatherland, and, to the west of the main gate, vaults where Rhenish wine and other foreign delicacies were sold, a favourite place of resort for English citizens as well as foreigners. It has been generally supposed that its name, the Steelyard, or _Stahlhof_, arose from the great weighing-machine or steelyard which stood within its entrance.[4] The Guildhall and Council Chamber were situated in the western corner on Thames Street, and several passages, including Windgoose Alley, ran from that street to the river, giving access to the shops and small houses, the latter usually consisting of a bedroom and sitting-room for the merchant, and, at the back, stores and apartments for clerks and workmen. The corporation was a close one, and the rules by which its members were bound were as strict as those of a monastery. Within its precincts women were strictly forbidden; all married members had to live outside the walls, nor were guests allowed to lodge there unless also of the Hanseatic community. Each night at nine the gates were shut, and the Steelyard was then like a small walled German town in the midst of London. The breaking of its laws, or the practice of any bad habits, was followed by severe punishment. Its members, too, were obliged to take their share in the wider civic life of London. The Steelyard was represented by an Alderman and a Deputy, and, among other duties, each merchant had his allotted post in case of war, and was obliged to keep the necessary arms ready for the defence of the city. Footnote 3: