The Royal Exchange : $b a note on the occasion of the bicentenary of the Royal Exchange Assurance — John Shaqi
The Royal Exchange : $b a note on the occasion of the bicentenary of the Royal Exchange AssuranceMason, A. E. W. (Alfred Edward Woodley)
History
The Royal Exchange : $b a note on the occasion of the bicentenary of the Royal Exchange Assurance
Mason, A. E. W. (Alfred Edward Woodley)
Royal Exchange (London, England) -- History; Royal Exchange Assurance (Firm) -- History
They were exempted, moreover, from the particular service of keeping
watch against the Pirates, who from the 13th to the 16th Centuries
infested the Channel and the mouth of the Thames. This exemption
is all the more remarkable since the Alemanes or Alemans--another
of their many designations--having practically the monopoly of the
sea-borne commerce, were the first to benefit by that vigilance.
How dangerous these Pirates were, can be easily understood from the
fact that when Henry the Fourth crossed the Thames from Queenborough
in Sheppey to Leigh in Essex, in order to escape a pestilence which
was raging in London, one of his ships, containing his baggage and
some of his retinue, fell into the hands of Pirates, while the King
narrowly escaped capture himself. The power of the Stillyard was
thus a formidable thing, and its governors had surrounded it by such
precautions and safeguards as made it doubly difficult to destroy.
The Members of the Steelyard or Stillyard--spelling was never an
exact science until a very recent date--lived, for instance, upon the
Monastic plan. No guild or corporation or trades union which ever
existed set so strict a limit to the number of its members. Its great
yards and buildings stood upon the bank of the Thames where to-day the
arches of the South Eastern Railway carry the lines into Cannon Street
Station. They were known first of all as the “Stapelhof,” the Stapel
House; this name was contracted into “Staelhof”; the Staelhof in its
turn became anglicised into “Stilliards,” and then, by a change which
had nothing to do with the meaning of the institution, was transmuted
in common parlance into “the Steelyard.” The Steelyard, which had
subsidiary houses at Boston and Lynn, was the great storage building of
England. The raw products for exportation, of which tin, hides and wool
were the chief, were assembled there. Thither, too, came the imports
from abroad--wheat, rye, grain, cables, wax, steel, linen, cloth and
tar in particular. The walls were fortified against attack--a very
necessary precaution considering the ill-feeling which the Yard aroused
amongst British Londoners. No member of the Stillyard was allowed to
marry or even to visit any person of the other sex. At a fixed hour in
the evening, all had to be at home, and the gates were rigidly closed;
and at a fixed hour in the morning the gates were opened again. All
meals were taken in common, and the members submitted themselves
to a Government which consisted of a Master, two assessors and nine
common councilmen. This committee held office for a year, the election
taking place upon New Year’s Eve, and the new Master, with his council,
solemnly took oath upon the following day to uphold all the rights
and privileges entrusted to his vigilance. It can be easily imagined,
therefore, what power a body of this kind possessed, a body without
home life or any interests except its commerce, having besides not only
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