Royal Exchange, London
The Royal Exchange in London was founded in 1565 by Thomas Gresham 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, and is trapezoidal, flanked by Cornhill and Threadneedle Street which converge at Bank junction. The design was inspired by a bourse Gresham had seen in Antwerp.
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History [edit]
The Royal Exchange was officially opened by Queen Elizabeth I who awarded the building its royal title and licence to sell alcohol, on 23 January 1571.[1] During the 17th century, stockbrokers were not allowed in 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. A second exchange was built on the site, designed by Edward Jarman, and opened in 1669, but was also destroyed by fire on 10 January 1838.[2]
The third Royal Exchange building, which still stands today, was designed by 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.[3] It features pediment sculptures by Richard Westmacott (the younger), and ornamental cast ironwork by Henry Grissell's Regent's Canal Ironworks. It was opened by Queen Victoria on 28 October 1844, though trading did not commence until 1 January 1845.
Also in 1844, a statue of Arthur Wellesley, the first duke of Wellington was inaugurated outside the Royal Exchange. It was sculpted from enemy cannons captured during Wellington's victorious battles.
The Royal Exchange ceased to act as a centre of commerce in 1939, although it was, for a few years in the 1980s, home to the London International Financial Futures Exchange (LIFFE). It is now a luxurious retail centre with shops and restaurants. Shops include Boodles, Hermès, Haines & Bonner and Tiffany & Co.
See also [edit]
References [edit]
- ^ Mason, 1920, p. 11 ff.
- ^ Mason, 1920, p. 33 ff. & 43 ff.
- ^ Collins, Peter (2004-04). Concrete: the vision of a new architecture. McGill-Queen's Press - MQUP. p. 48. ISBN 978-0-7735-2564-1. Retrieved 12 October 2010.
Bibliography [edit]
- Walter Thornbury. Old and new London: a narrative of its history, its people, and its places, volume 1 (London : Cassell, Petter, & Galpin, 1873) p. 494 ff.
- W. H. Pyne. Microcosm of London; or, London in miniature, volume 3 (London Methuen, 1904) p. 17 ff.
- Mason, A. E. W. The Royal Exchange: a note on the occasion of the bicentenary of the Royal Exchange Assurance (London: Royal Exchange, 1920).
External links [edit]
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Wikimedia Commons has media related to: Royal Exchange (London) |
- The Royal Exchange London website
- The Royal Exchange (Victorian Web)
- Buildings and structures in the City of London
- Grade I listed buildings in London
- Grade I listed markets and exchanges
- Economy of the City of London
- History of the City of London
- Buildings and structures in London
- 1565 establishments in England
- Visitor attractions in the City of London
- Shopping centres in the City of London
