Durham House, which formerly occupied that extensive space of ground on the southern side of the Strand, now covered by the stately pile of buildings called the Adelphi, was erected, according to Stow,[4] in the reign of Edward III., by Thomas de Hatfield, created Bishop of Durham in 1345. Pennant,[5] however, but upon what authority does not appear, traces its foundation to a period prior to the abovementioned, that of Edward I., when he says it was erected by Anthony de Beck, patriarch of Jerusalem and Bishop of Durham, but was afterwards rebuilt by Bishop Hatfield. In 1534, Tonstal, the then bishop, exchanged Durham House with Henry VIII. for a mansion in Thames Street, called "Cold Harborough," when it was converted by that monarch into a royal palace. During the same reign, in the year 1540, a grand tournament, commencing on "Maie daie," and continuing on the five following days, was held at Westminster; after which, says Stow, "the challengers rode to Durham Place, where they kept open household, and feasted the king and queene (Anne of Cleves) with her ladies, and all the court."[6] In the reign of Edward VI., a mint was established at Durham House by the ambitious Thomas Seymour, Lord Admiral, under the direction of Sir William Sharington. [Footnote 4: Strype's _Stow_, vol. ii. p. 576.] [Footnote 5: Pennant's _London_, p. 120, 4to. edit.] [Footnote 6: Stow's _Chronicle_, p. 975.] This mansion was bestowed on the princess Elizabeth, during the term of her life, by her brother Edward VI., when it became the residence of the Earl of Northumberland, and the scene of those important transactions we have just endeavoured to relate. On the death of Elizabeth, Sir Walter Raleigh, to whom the mansion had been given by that queen, was obliged to surrender it to Toby Matthew, the then Bishop of Durham, in consequence of the reversion having been granted to that see by queen Mary, whose bigoted and narrow mind regarded the previous exchange as a sacrilege. In 1608, the stables of Durham House, which fronted the Strand, and which, says Strype,[7] "were old, ruinous, and ready to fall, and very unsightly in so public a passage to the Court of Westminster," were pulled down and a building called the New Exchange erected on their site, by the Earl of Salisbury. It was built partly on the plan of the Royal Exchange; the shops or stalls being principally occupied by miliners and sempstresses. It was opened with great state by James I., and his queen, who named it the "Bursse of Britain."[8] [Footnote 7: Strype's _Stow_, vol. ii. p. 576.] [Footnote 8: Howel's _Londinopolis_, p. 349.] In 1640, the estate of Durham House was purchased of the see, by Philip, Earl of Pembroke and Montgomery, for the annual sum of 200_l_., when the mansion was pulled down, and numerous houses erected on its site; and in 1737, the New Exchange was also demolished to make room for further improvements.