“Then have ye Lombard Street, so called of the Longobards, and other merchants, strangers of divers nations assembling there twice every day, of what original or continuance I have not read of record, more than that Edward II., in the 12th of his reign, confirmed a messuage, sometime belonging to Robert Turke, abutting on Lombard Street, toward the south, and toward Cornehill on the north, for the merchants of Florence, which proveth that street to have had the name of Lombard Street before the reign of Edward II. The meeting of which merchants and others there continued until the 22nd of December, in the year 1568; on the which day the said merchants began to make their meetings at the burse, a place then new built for that purpose in the ward of Cornhill, and was since by her majesty, Queen Elizabeth, named the Royal Exchange.” The Lombards came over at first as collectors of the papal revenue; but they did much more than this: they opened up trade between the Italian towns and London—every year the fleets of Genoa and Venice brought goods from the East and from the Mediterranean. Moreover, the Italians in England sent wool from England instead of precious metals by way of Florence, if not other cities. Their wealth enabled them to take the place of the Jews in their expulsion; if the City was suddenly and heavily taxed they made advances to the merchant who could not immediately realise. Of course they charged heavy interest—as heavy as the necessities of the case permitted—and they became unpopular. The lending of money, forbidden and held in abhorrence, was absolutely necessary for the conduct of business: those who carried on this trade naturally lived together, if only to be kept in knowledge of what was going on. And as the progress of trade went on, their power increased year by year. Lombard Street, where they lived, was the daily mart of the London merchants before the erection of the Exchange. [Illustration: POPE’S HOUSE IN PLOUGH COURT ]