Misplaced Pages

#466533

46-659: The Royal Exchange in London was founded in the 16th century by the merchant Sir Thomas Gresham on the suggestion of his factor Richard Clough to act as a centre of commerce for the City of London . The site was provided by the City of London Corporation and the Worshipful Company of Mercers , who still jointly own the freehold. The original foundation was ceremonially opened by Queen Elizabeth I who granted it its "royal" title. The current neoclassical building has

92-526: A trapezoidal floor plan and is flanked by Cornhill and Threadneedle Street , which converge at Bank junction in the heart of the city. It lies in the Ward of Cornhill . The exchange building has twice been destroyed by fire and subsequently rebuilt. The present building was designed by Sir William Tite in the 1840s. The site was notably occupied by the Lloyd's insurance market for nearly 150 years. Today,

138-513: A tympanum with relief sculpture by Richard Westmacott (the younger) of seventeen figures representing London merchants and foreign traders. The central allegorical figure represents Commerce, above an inscription chosen by Albert, Prince Consort from Psalm 24 : "The Earth is the Lord's, and the fulness thereof". The Latin inscription on the frieze states: Anno XIII. Elizabethae R. Conditvm; Anno VIII. Victoriae R. Restavratvm. or "founded in

184-463: A London merchant. By his wife he had an only son who predeceased him. He also had an illegitimate daughter who married Sir Nathaniel Bacon ( c. 1546–1622), half-brother of Francis Bacon, 1st Viscount St Albans , becoming Anne, Lady Bacon . Gresham died suddenly, apparently of apoplexy , on 21 November 1579 and was buried at St Helen's Church, Bishopsgate in the City of London . Apart from some small sums to various charities, Gresham bequeathed

230-477: A mechanism that can play God Save the King , The Roast Beef of Old England , Rule Britannia! and Psalm 104 . The combined weight of them is 131 cwt. I qr. The original plan was to have the same number of bells as before the fire (nine) but was increased to 15 at the suggestion of Edward John Dent , who, having visited Brussels to obtain information as to the arrangement of carillons, was convinced to recommend that

276-670: A village then part of Headley. The family provided a site for the National School established there in 1871, and maintained a close connection to the area. I'Anson's son Edward Blakeway made funds available for the construction of the church, and many of his family are buried and memorialised in its churchyard. His first important building in the City was the Royal Exchange Buildings, designed for Sir Francis Graham Moon in 1837. There he made use of concrete for

322-622: Is one of the locations where a herald proclaims the new monarch's reign to the public. Richard Clough initially suggested building the exchange in 1562, and its original design was inspired by the Antwerp bourse , the world's first purpose-built bourse , with which Thomas Gresham, the representative of the English crown in Antwerp, was familiar, and on which the designs of the bourses of Amsterdam (1611) and Rotterdam would also be based. It

368-756: The British and Foreign Bible Society at 146 Queen Victoria Street (1866–8) were the most successful. His designs in the Neo-Gothic style included the school of the Merchant Taylors' Company at the Charterhouse. I'Anson was surveyor to the Merchant Taylors for many years, and also to St. Bartholomew's Hospital , for which he designed a new museum and library. He was responsible for the remodelling of Fetcham Park , Leatherhead, and

414-701: The City of London , he was the eldest son of the surveyor and architect Edward P. I'Anson (1775–1853). He was educated at the Merchant Taylors' School and at the College of Henri IV in France, and articled to his father at an early age. Subsequently, he entered the office of John Wallen , principal quantity surveyor at that time in the City. At the close of his indentures I'Anson travelled for two years, extending his tour as far as Constantinople . On his return in 1837 he entered into practice, both as assistant to his father and as an independent architect. In 1823,

460-471: The Rialto there, called Saint Mark 's; 'tis but a bauble, if compared to this. The nearest, that which most resembles this, is the great Burse in Antwerp , yet no comparable either in height or wideness, the fair cellarage, or goodly shops above. Oh my Lord Mayor , this Gresham hath much graced your City of London; his fame will long outlive him. In 1544 he married Anne Ferneley, widow of Sir William Read,

506-567: The weathervane on the Royal Exchange in the City of London , also founded by him in 1565. The Faneuil Hall at Boston , Massachusetts , has also borrowed this heraldic device . The Gresham coat of arms is blazoned: Argent, a Chevron Erminés between three Mullets pierced Sable . According to ancient legend, the founder of the family, Roger de Gresham, was a foundling abandoned as a new-born baby among long grass in Norfolk during

SECTION 10

#1732775673467

552-450: The 13th century and found there by a woman whose attention was drawn to the child by a grasshopper. Although a beautiful story, it is more likely that the grasshopper is simply a canting heraldic crest playing on the sound "grassh-" and "Gresh-". The Gresham family uses as its motto Fiat Voluntas Tua ('Thy will be done'). Edward I%27Anson Born in St. Laurence Pountney Hill in

598-561: The 17th century. Stockbrokers were not allowed into the Royal Exchange because of their rude manners, hence they had to operate from other establishments in the vicinity, such as Jonathan's Coffee-House . Gresham's original building was destroyed in the Great Fire of London in 1666. Take a view of the Royal Exchange in London, a place more venerable than many courts of justice, where the representatives of all nations meet for

644-551: The 1838 fire. The third Royal Exchange building, which still stands today, was designed by Sir William Tite and adheres to the original layout–consisting of a four-sided structure surrounding a central courtyard where merchants and tradesmen could do business. The internal works, designed by Edward I'Anson in 1837, made use of concrete —an early example of this modern construction method. It features pediment sculptures by Richard Westmacott (the younger) , and ornamental cast ironwork by Henry Grissell 's Regent's Canal Ironworks. It

690-514: The Elder ( / ˈ ɡ r ɛ ʃ ə m / ; c. 1519 – 21 November 1579) was an English merchant and financier who acted on behalf of King Edward VI (1547–1553) and Edward's half-sisters, queens Mary I (1553–1558) and Elizabeth I (1558–1603). In 1565 Gresham founded the Royal Exchange in the City of London . Born in London and descended from an old Norfolk family , Gresham

736-481: The I'Anson family bought 9, St Laurence Pountney Lane, the house neighbouring their own. The firm of Edward I'Anson and Sons operated from there from 1850. I'Anson made various changes to the property, including a new roof, and some Venetian-inspired windows. He also acquired the adjoining disused churchyard for use as a garden. In 1861, I'Anson and his wife, Catherine Blakeway, purchased land at Grayshott in Surrey,

782-674: The London merchant Sir William Read, but maintained residence principally in the Low Countries , basing his headquarters at Antwerp in present-day Belgium (then the Spanish Netherlands ), where he became renowned for his adept market-play . When in 1551 the mismanagement of Sir William Damsell , King's Merchant to the Low Countries, had caused the English Government much financial embarrassment,

828-557: The Royal Exchange contains restaurants and luxury shops. Traditionally, the steps of the Royal Exchange are the place where certain royal proclamations (such as the dissolution of parliament) are read out by either a herald or a crier . Following the death or abdication of a monarch and the confirmation of the next monarch's accession to the throne by the Accession Council , the Royal Exchange Building

874-501: The Royal Exchange was in disrepair – in particular, the glass roof was in danger of collapse. The newly formed London International Financial Futures Exchange (LIFFE) was the main tenant, using the courtyard for the trading floor, all done without touching the framework of the original building. Liffe moved to Cannon Bridge in 1991. In 2001 the Royal Exchange (interiors and courtyard) was once again extensively remodelled, this time by architects Aukett Fitzroy Robinson . The works involved

920-689: The anniversary of the Battle of Waterloo , in the presence of the King of Saxony . Between the Wellington statue and the exchange steps is the London Troops Memorial commemorating the dead of military units associated with the City and County of London during the First World War . Designed by Sir Aston Webb , the monument is flanked by two bronze statues of soldiers and surmounted by a lion, all sculpted by Alfred Drury . It

966-707: The annual value of which at that time amounted ultimately to about 400 pounds a year. On the accession of Queen Mary in 1553, Gresham fell out of favour at Court for a short time with Alderman William Dauntsey displacing him. But Dauntsey's financial operations proved unsuccessful and Gresham was soon reinstated; and as he professed his zealous desire to serve the Queen, and manifested great adroitness both in negotiating loans and in smuggling money, arms and foreign goods, not only were his services retained throughout her reign (1553–1558), but besides his salary of twenty shillings per diem he received grants of church lands to

SECTION 20

#1732775673467

1012-615: The authorities called Gresham for advice, thereafter following his proposals. Gresham advocated the adoption of various methods – highly ingenious, but quite arbitrary and unfair – for raising the value of the pound sterling on the Antwerp bourse which proved so successful that in just a few years King Edward VI had discharged almost all of his debts. The Government sought Gresham's advice in all their money difficulties, and also frequently employed him in various diplomatic missions. He had no stated salary, but in reward of his services received from King Edward various grants of lands,

1058-815: The benefit of mankind. There the Jew, the Mahometan [Muslim], and the Christian transact together, as though they all professed the same religion, and give the name of infidel to none but bankrupts. There the Presbyterian confides in the Anabaptist, and the Churchman depends on the Quaker's word. A second complex was built on the site, designed by Edward Jarman and opened in 1669. It featured a tall wooden tower over

1104-639: The bulk of his property (consisting of estates in London and around England giving an income of more than £2,300 a year) to his widow and her heirs, with the stipulation that after her death his own house in Bishopsgate Street and the rents from the Royal Exchange should be vested in the Corporation of London and the Mercers Company , for the purpose of instituting a college in which seven professors should read lectures, one each day of

1150-610: The continent, and in 1867 visited Russia. In many of his numerous duties as surveyor, and in some of his architectural works, notably the new Corn Exchange in Mark Lane, he was assisted by his eldest son, Edward Blakeway I'Anson. I'Anson died unexpectedly on 30 January 1888, and was buried at All Saints church in Headley, East Hampshire . A portrait of him will be found in the Builder , xxix. 1006. Edward Blakeway I'Anson continued

1196-419: The debased currency of England. However, Sir Thomas never formulated anything like Gresham's law , which was the 1857 conception of Henry Dunning Macleod , an economist with a knack for reading into a text that which was not written. The Gresham family crest is: On a Mount Vert a Grasshopper Or (a golden grasshopper on a green mound); it is displayed by Gresham College , which he founded, and also forms

1242-404: The end of 1572. In 1565 Gresham made a proposal to the City of London 's Court of Aldermen to build, at his own expense, a bourse or exchange – what became the Royal Exchange , modelled on the Antwerp bourse – on condition that the Corporation provided for this purpose a suitable location. In this proposal he seems to have had a good eye for his self-interest as well as for

1288-542: The general good of the City's merchants, for by a yearly rental of £700 obtained for the shops in the upper part of the building he received more than sufficient return for his trouble and expense. The foundation of the Royal Exchange is the background of Thomas Heywood 's play: If You Know Not Me, You Know Nobody part 2 , in which a Lord extols the quality of the building when asked if he has ever seen "a goodlier frame": Not in my life; yet I have been in Venice ... In

1334-470: The internal works, an early example of this modern construction method that had previously only been used in experimental or minor projects. This brought him into repute, and obtained for him the chief practice as architect in the City. I'Anson developed a career as a pioneering designer of purpose-built commercial buildings in the City. Those executed by him in the Italian style, such as the buildings of

1380-667: The number so that a greater range of tunes could be played. Professor Taylor advised the committee to increase them to fifteen, which would then allow of playing in three octaves. The largest is also the hour bell, and bears the following inscription Cast for the Royal Exchange in the year of grace 1844; Richard Lambert Jones, Chairman of the Gresham College Committee; Daniel Watney, Master of the Mercers' Company; Ebenezer Trottman, Assistant; William Tite, Architect; Charles and George Mears, founders. The others only bear

1426-430: The remainder of his life in London, he continued his business as merchant and government financial agent in much the same way as he had always done. Queen Elizabeth also found Gresham's abilities useful in a variety of other ways, including acting as gaoler to Lady Mary Grey (sister of Lady Jane Grey ), who, as a punishment for marrying Thomas Keyes the sergeant-porter, was imprisoned in his house from June 1569 to

Royal Exchange, London - Misplaced Pages Continue

1472-477: The restoration of the fabric of the building, a two floor office extension and replacement of the roof above the courtyard. In a lane by the eastern entrance to the Royal Exchange, stand two statues: one of Paul Julius Reuter who founded his news agency there, and one of George Peabody who founded the Peabody Trust and a business which became J.P. Morgan & Co. In 2013 a lease of Royal Exchange

1518-789: The restorations of the Dutch Church in Austin Friars and of St. Mary Abchurch . I'Anson was elected a fellow of the Royal Institute of British Architects in 1840, and was chosen president in 1886. He contributed numerous papers to the Transactions of the institute. He was also a fellow of the Geological Society , and in 1886 became president of the Surveyors' Institution . He was a frequent traveller on

1564-499: The south entrance in Corn Hill; this eventually fell into disrepair and, in 1821, was replaced by a new stone tower and cupola designed by George Smith . The second Exchange was also burned down on 10 January 1838 in a fire caused by an overheated stove; the blaze was visible from Windsor , 24 miles (39 km) away. It had been used by the Lloyd's insurance market , which was forced to move temporarily to South Sea House following

1610-434: The thirteenth year of Queen Elizabeth, and restored in the eighth of Queen Victoria". Two statues stand in niches in the central courtyard. Charles II (a copy of 1792 by John Spiller after Grinling Gibbons ' statue in the centre of the 17th century courtyard) and Queen Elizabeth I by Musgrave Watson , 1844. The Charles II statue survived the fire of 1838 that destroyed the previous Exchange. The Elizabeth I statue

1656-434: The week, in astronomy , geometry , physic , law, divinity , rhetoric and music. Thus, Gresham College , the first institution of higher learning in London, came to be established in 1597. Gresham's law (stated simply as: "Bad money drives out good") takes its name from him (although others, including the astronomer Nicolaus Copernicus , had recognised the concept for years) because he urged Queen Elizabeth to restore

1702-553: The words Royal Exchange, 1844 .” From 1892, twenty-four scenes from London's history were painted on the first-floor walls by artists including Sir Frederic Leighton , Sir Frank Brangwyn and Stanhope Forbes . The murals run as a sequence: With the outbreak of the Second World War , trading at the Royal Exchange virtually ended. At war's end, the building had survived the Blitz , albeit with some near misses. In 1982

1748-669: The yearly value of 200 pounds. Under Queen Elizabeth 's reign (1558–1603), besides continuing in his post as financial agent of the Crown, Gresham acted as Ambassador Plenipotentiary to the Court of Duchess Margaret of Parma , Governor of the Netherlands , and was appointed a Knight Bachelor in 1559 prior to his departure. The unsettled times preceding the Dutch revolt compelled him to leave Antwerp on 10 March 1567; but, though he spent

1794-425: Was Britain's first specialist commercial building , and Clough oversaw the importing of some of the materials from Antwerp: stone, slate, wainscot and glass, for which he paid thousands of pounds himself. The Royal Exchange was officially opened on 23 January 1571 by Queen Elizabeth I , who awarded the building its royal title and a licence to sell alcohol and valuable goods. Only the exchange of goods took place until

1840-532: Was commissioned as she was the monarch who had conferred the status "Royal" on the Exchange. In front of the portico of the Royal Exchange is a statue of Arthur Wellesley, 1st Duke of Wellington , the last work of Sir Francis Leggatt Chantrey . The bronze used to cast it was donated by the government and sourced from French cannons captured during the Napoleonic Wars . It was unveiled on 18 June 1844,

1886-564: Was concurrently apprenticed in the Mercers' Company to his uncle Sir John Gresham , founder of Gresham's School , while he was still at Cambridge . In 1543 the Mercers' Company admitted the 24-year-old Gresham as a liveryman , and later that year he left England for the Low Countries , where, either on his own account or that of his father or uncle, he carried on business as a merchant whilst acting in various matters as agent for King Henry VIII . In 1544 he married Anne Ferneley, widow of

Royal Exchange, London - Misplaced Pages Continue

1932-419: Was one of two sons and two daughters of Sir Richard Gresham , a leading merchant mercer and Lord Mayor of London , who was knighted by King Henry VIII for negotiating favourable loans with foreign merchants. Gresham was educated at St Paul's School . After that, although his father wanted Thomas to become a merchant, Sir Richard first sent him to university at Gonville and Caius College, Cambridge . He

1978-536: Was opened by Queen Victoria on 28 October 1844, though trading did not commence until 1 January 1845. Paul Julius Reuter established the Reuters news agency at No. 1, Royal Exchange Buildings (opposite and to the east of the Royal Exchange) in 1851. It later moved to Fleet Street . The western end of the building consists of a portico of eight Corinthian columns topped by a pediment containing

2024-555: Was rescued from the 1838 fire and is 11 feet (3.4 m) long. It stands 177 feet (54 m) above street level on a clock tower which has a clock by Edward John Dent . A similar grasshopper weathervane on the Faneuil Hall in Boston , Massachusetts was made by Shem Drowne in 1742 and was inspired by the London example. The tower contains a chime of 15 bells all cast by Charles and George Mears of Whitechapel in 1844, with

2070-581: Was sold by Anglo Irish Bank to Oxford Properties , a Canadian property company. It had been announced that the site would be sold with a 104-year lease. Oxford Properties Group, a division of the Ontario Municipal Employees Retirement System, bought the retail centre for a reported £86.5 million. In October 2022, Ardent UK acquired the retail element of the Exchange from Oxford Properties Group for around £50 million. Sir Thomas Gresham Sir Thomas Gresham

2116-476: Was unveiled on 12 November 1920 in the presence of the Duke of York , later King George VI . The golden Gresham Grasshopper is the Royal Exchange's weathervane and was the crest of the founder, Sir Thomas Gresham . According to legend, a grasshopper's chirps once led to the discovery of a foundling, who became the first of the house of Gresham and the ancestor of Sir Thomas Gresham. The Grasshopper weathervane

#466533