The Mirror of Literature, Amusement, and Instruction. Volume 14, No. 395, October 24, 1829 — John Shaqi
The Mirror of Literature, Amusement, and Instruction. Volume 14, No. 395, October 24, 1829Various
General
The Mirror of Literature, Amusement, and Instruction. Volume 14, No. 395, October 24, 1829
Various
Popular literature -- Great Britain -- Periodicals
THE MIRROR OF LITERATURE, AMUSEMENT, AND INSTRUCTION.
VOL. XIV, No. 395.] SATURDAY, OCTOBER 24, 1829. [PRICE 2d.
* * * * *
[Illustration]
The Original Royal Exchange.
(_From a Correspondent_.)
Four centuries since the Merchants of London could not boast of a public
Exchange. They then assembled to transact business in Lombard-street,
among the Lombard Jews, from whom the street derives its name, and who
were then the bankers of all Europe. Here too they probably kept their
_benches_ or _banks_, as they were wont to do in the market-places of
the continent, for transacting pecuniary matters; and thus drew around
them all those of whose various pursuits money is the common medium.
At length, in 1534, Sir R. Gresham, who was agent for Henry the Eighth
at Antwerp, and had been struck with the advantages attending the
_Bourse_, or Exchange, of that city, prevailed upon his Royal Master to
send a letter to the Mayor and Commonalty of London, recommending them
to erect a similar building on their manor of Leadenhall. The Court of
Common Council, however, were of opinion that such a removal of the
seat of business would be impracticable, and the scheme was therefore
dropped; but in the reign of Queen Elizabeth, Sir Thomas Gresham, who
succeeded to the Antwerp agency, happily accomplished what had been
denied to the hopes of his father. In 1564 Sir Thomas proposed to the
Corporation--"That if the City would give him a piece of ground, in a
commodious spot, he would erect an Exchange at his own expense, with
large and covered walks, wherein the merchants might assemble and
transact business at all seasons, without interruption from the weather,
or impediments of any kind." The Corporation met the proposal with
a spirit of equal liberality; and in 1566 various buildings, houses,
tenements, &c. in Cornhill, were purchased for rather more than £3,530,
and the materials re-sold for £478, on condition of pulling them down
and carrying them away.--The ground plot was then levelled at the charge
of the City, and possession given to Sir Thomas, who in the deed is
styled, "Agent to the Queen's Highness," and who laid the foundation of
the new Exchange on the 7th of June following; and the whole was covered
in before November 1567.
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