THE OLD EXCHANGE, _East End of Broad Street_: From the standpoint of history, this building is incomparably the most interesting in South Carolina and one of the most interesting in America, the Rev. William Way, D.D., told the Rebecca Motte Chapter of the Daughters of the American Revolution, whose property it is by gift of the United States. When Charles Town was laid out in 1680 this site was the Court of Guards, the place of arms for the early colonists. Here were imprisoned Stede Bonnet and other pirates in 1718 when South Carolina was putting down piracy after its previous years of friendship and fraternizing. The Exchange and Custom House was built in 1767 at a cost of 44,016 pounds. Most of the material was brought from England in sailing vessels. The date of completion was 1771. Taxed tea from England was stored in the Exchange in 1774 and citizens prevented its sale. A second cargo, arriving November 3, 1774, was dumped by merchants of Charlestown into the Cooper River. In July, 1774, delegates to the Provincial Congress gathered in this building and set up the first independent government established in America; the congress also elected delegates to the General Congress meeting in Philadelphia. Patriotic men and women of Charlestown were incarcerated in the Exchange by the British during the Revolution; it was from the Exchange that the martyr Colonel Isaac Hayne was led to his execution in 1781. President George Washington was entertained in the building, Charles Fraser writing in his _Reminiscences_: “Amidst every recollection that I have of that most imposing occasion, the most prominent is the person of that great man as he stood upon the steps of the Exchange uncovered, amidst the enthusiastic acclamation of the citizens.” Saturday, May 7, 1791, General Washington was guest of honor at a “sumptuous entertainment” given by the merchants of Charleston in the Exchange. During the War of 1812 patriotic meetings were held in the Exchange. In 1818 the city of Charleston sold the Exchange to the United States government for the sum of $60,000 and a week later the city government paid the sum of $60,000 for the building of the United States Bank, to be converted into the City Hall. The following year President James Monroe was in the Exchange. The federal government used the building for a customhouse and post office, the customhouse transferring to its own building after the War for Southern Independence and the post office to its present home in 1896. In the earthquake of 1886, the cupola designed by the artist Fraser was so badly damaged that it was removed. For years the building has been headquarters for the Sixth lighthouse district; these offices continue in it although the government has presented the historic building to the Daughters of the American Revolution in and of the State of South Carolina as an historical memorial, to be occupied by the Rebecca Motte Chapter; this was effective in March of 1913. When the