The presence of these old inns at the head of the town dock naturally points to that locality as the business centre, and it continued to hold that relation to the commerce of Boston until, by the building of wharves and piers, ships were enabled to come up to them for the purpose of unloading. Before that time their cargoes were landed in boats and lighters. Far back, in the beginning of things, when everything had to be transported by water to and from the neighboring settlements, this was naturally the busiest place in Boston. In time Dock Square became, as its name indicates, a sort of delta for the confluent lanes running down to the dock below it. Here, for a time, was centred all the movement to and from the shipping, and, we may add, about all the commerce of the infant settlement. Naturally the vicinity was most convenient for exposing for sale all sorts of merchandise as it was landed, which fact soon led to the establishment of a corn market on one side of the dock and a fish market on the other side. The =Royal Exchange= stood on the site of the Merchants' Bank, in State Street. In this high-sounding name we find a sure sign that the town had outgrown its old traditions and was making progress toward more citified ways. As time wore on a town-house had been built in the market-place. Its ground floor was purposely left open for the citizens to walk about, discuss the news, or bargain in. In the popular phrase, they were said to meet "on 'change," and thereafter this place of meeting was known as the Exchange, which name the tavern and lane soon took to themselves as a natural right. [Illustration: THE ROYAL EXCHANGE TAVERN (Merchants Bank site, State Street) The tall white building, mail coach just leaving] A glance at the locality in question shows the choice to have been made with a shrewd eye to the future. For example: the house fronted upon the town market-place, where, on stated days, fairs or markets for the sale of country products were held. On one side the tavern was flanked by the well-trodden lane which led to the town dock. From daily chaffering in a small way, those who wished to buy or sell came to meet here regularly. It also became the place for popular gatherings,--on such occasions of ceremony as the publishing of proclamations, mustering of troops, or punishment of criminals,--all of which vindicates its title to be called the heart of the little commonwealth. Indeed, on this spot the pulse of its daily life beat with ever-increasing vigor. Hither came the country people, with their donkeys and panniers. Here in the open air they set up their little booths to tempt the town's folk with the display of fresh country butter, cheese and eggs, fruits or vegetables. Here came the citizen, with his basket on his arm, exchanging his stock of news or opinions as he bargained for his dinner, and so caught the drift of popular sentiment beyond his own chimney-corner.