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THE ROYAL EXCHANGE, LONDON. and five feet broad; from the smallness of their size, In most large commercial cities, it has long been the it often happened that the same person rented custom that a particular place should be appropriated
more than one. There were likewise at first, other to the daily meetings of merchants. The name which shops fitted up in the vaults below; but these was first generally applied to such places is Bourse, being found very inconvenient by reason of their by which they are still known in Paris, Antwerp, St. dampness and want of light, the vaults were soon let Petersburg, and other large cities on the continent.
out to other uses. An entry in the Ward-book of The account given of the origin of the name of Cornhill, under the year 1594, gives us some informaBourse, as applied to a place of meeting for mer
tion as to the manner in which the vaults were then chants, is this. In the city of Bruges there stood a appropriated ; it runs thus,large ancient building, which had been erected by the Presented William Grimbel for keping typlinge in the noble family of La Bourse, (signifying Purse in vaults under the Exchange, and for broyling of herringes, French and Flemish,) whose coat of arms on the sprotts, and bacon, and other thinges in the same vaults walls was three purses. The merchants of Bruges noisome to the merchants and others resortinge to the
Exchange. made this old house the place of their daily assemblies; and when they afterwards went to the fairs of
The number of the upper shops was one hundred Antwerp and Mons, they called the place appropri- and twenty; which, when the vaults had been detached ated in those cities to similar purposes, by the same from them, “paid, one with another, a rent of four name as that which they had applied to the place of pounds ten shillings a year, upon leases of twentymeeting in their own city, that is to say,—the Bourse.
one years." Ward, in his Life of Gresham, says, The French merchants also carried the name into the that the tenants placed in them by Sir Thomas were cities of their own country, and even in London
chiefly young men of small fortunes, but industrious, the merchants' place of meeting was called Bourse or who, by their diligence, brought great business to their Burse, until Queen Elizabeth ordered it to be styled shops, and employed some thousands of poor people the Royal Exchange ; and even afterwards retained in working our manufactures.” It would seem, howthe original name among foreigners, who styled it ever, that they were not at first very prosperous ; the Bourse Royale.
for when Elizabeth visited the Exchange, three years The Bourse or Burse in London was built by the cele- after its erection, so many of the shops were unbrated merchant, Sir Thomas Gresham *; and before occupied that Sir Thomas found it necessary to go its erection the merchants were accustomed to assemble round among the shopkeepers and entreat them " to in the open air in Lombard-street, where they trans- furnish and adorne with wares and wax-lights, as acted their business, subject to the many inconveniences many shoppes as they either coulde or woulde, and of such an exposure. That these inconveniences were they should have all those so furnished, rent free for severely felt is proved by the fact that various schemes that year.” Some time afterwards, Stow's Continuator, were suggested for remedying them; although no
speaking of this Exchange says, "it is as plenteactive steps appear to have been taken for that pur- ously stored with all kinde of rich wares and fine pose until the year 1531. In that year, Sir Thomas commodities as any particular place in Europe; Gresham's father, Sir Richard, who enjoyed the into which place many forraine princes daily send to honourable distinction of being styled “the King's be best served of the best sort.” The same authority Merchant," and who was then serving the office of enumerates among the tenants of the shops of that sheriff, wrote to Sir Thomas Audley, the Lord Privy period, haberdashers, armourers, apothecaries, bookSeal, requesting him to move the king (Henry the sellers, goldsmiths, and globe-sellers. Eighth) to direct a letter to be sent to Sir George
The visit mentioned above as having been paid Monoux, requiring him to sell certain houses in by Queen Elizabeth to the Bourse in 1571, was the Lombard-street to the mayor and commonalty, for occasion of its obtaining the name of "Royal Exthe purpose of erecting a Burse on the ground of the change," by which it has ever since been known. same for the use of the merchants,
Her Majesty went into the city to dine with Sir Three years after Sir Richard's application, the Thomas Gresham, and on her return inspected it. king sent a letter to the city, directing that a Burse
The three and twentieth of Januarie, [1571,] the Queene's should be built at Leadenhall; but as the Common Majestie, accompanied with her nobility, came from her Council voted that the place of meeting should not
house at the Strand, called Summerset-place, and entered
the citie of London by Temple Bar, Fleet-street, Cheape, be removed from Lombard-street, no further mea
and so by the north side of the Bursse, to Sir Thomas sures were taken.
Gresham's in Bishopsgate-street, where she dined. After Thirty years afterwards, when Elizabeth had been dinner, her Grace returning through Cornbill, entered the seated on the throne about six years, the scheme was Bursse on the south side; and after her Highness had revived with greater effect. Sir Thomas Gresham pro
viewed every part thereof above ground, especially the posed to the corporation of London, in the year 1564– Pawne, which was richlie furnished with all sorts of the
finests wares in the citie, she caused the same Bursse by That if the city would give him a piece of ground in a an herald to be proclaimed The Royal Exchange, so to be commodious spot, he, at his own expense, would erect an called from thenceforth and no otherwise. Exchange, with large and covered walks, wherein the merchants and traders might daily assemble, and transact
A curious tradition has been preserved relative to business at all seasons, without interruption from the this visit,--namely, that Sir Thomas, before the weather, or impediments of any kind.
Queen came to his house, purchased of a foreigner a This offer was accepted; and the foundation of the costly pearl, which, on account of its high price, had Exchange was laid by Sir Thomas Gresham on the been refused by several persons of the first quality, 7th of June 1566. The superstructure was carried
that he caused it to be reduced to powder, and during on with rapidity, and the whole covered in with slate the entertainment drank it up in a glass of wine. by November 1567, soon after which the building The tradition is embodied in an historical play in
which Gresham thus speaks,was “ fully finished.”
The upper part of this edifice was divided into Here fifteen hundred pound at one clap goes, shops, which were let out by Sir Thomas at a yearly
Instead of sugar Gresham drinkes this pearle
Unto his queen and mistress : pledge it lords. rent. These shops were seven feet and a half long
This story, (Fays Dr. Ward,) has been handed down by * See Saturday Magazine, Vol. II., p. 225.
tradition as a real fact, but as I find no historical proof of it, I would not be thought to mention it as a thing pro- | Exchange one of the greatest glories and ornaments of bable, but only to show upon what evidence it depends; for London. There were the statues of the kings and queens it seems no way agreeable to the character of Sir Thomas, of England set up, as in the most conspicuous and honourable who always knew how to make the best use of his money. place (as well receiving lustre from the place where they
Sir Thomas Gresham died on the 21st of Novem- stood as giving lustre to it.) ber, 1579, and by his will bequeathed “the building in the midst of it, rich goods both above and beneath. There
How full of riches was that Royall Exchange. Rich men called the Royal Exchange, with all the pawns and men walk't upon the top of a wealthy mine; considering shops, cellars, vaults, messuages, tenements, and other what Eastern treasures, costly spices, and such like things, hereditaments" belonging to it, after the determination were laid up in the bowels, (I mean the cellars,) of that of the particular uses, estates, and interest for life, place. As for the upper part of it, was it not the great and entail thereof, upon the Lady Anne his wife, furnished with most of those costly things, wherewith they
storehouse whence the nobility and gentry of England were "jointly for ever to the Corporation of London and
did adorn either their closets or themselves? the Company of Mercers ;' upon trust that the About the space of nineteen months, was that Royall citizens out of their moiety should pay salaries of Exchange in building, viz., from June 7th till November 501. per annum each to four professors, who should in the year following. So that the sunne had finished his read public lectures gratuitously on Divinity, Astro- annual course once, and almost a second time, ere that work nomy, Geometry, and Music, at his Mansion-house
was finished; but was it so many hours in burning as it
was months in building ? between Bishopsgate-street and Broad-street, afterwards called Gresham College; 61. 13s. 4d. per annum
When this Exchange was burned in 1666 the each, to eight alms-people living behind the said amount of funds belonging to the trust in the mansion ; and 101. annually to each of the prisons of possession of the trustees was only £ 234. 88. 2d. ; Newgate, Ludgate, the Marshalsea, King's Bench, yet they soon began the work of rebuilding. and Wood-street Compter:-—and that the Mercers
The plans and elevations were submitted to Charles out of their moiety should pay annual salaries of 501.
the Second in September, 1667, and, on the 23rd of to each of three persons who should read lectures on
October, the king laid the base of the column on the Law, Physic, and Rhetoric, at his Mansion-house ;
west side of the north entrance, after which he and 1001. for four dinners quarterly, at their own hall, his suite were plentifully regaled, under a temporary
shed and 101. yearly to. Christ's, St. Bartholomew's, St.
upon the Scotch walk, “ with a chine of beef, Thomas's, and Bethlem Hospitals, the Spital and the fowls, hains, dried tongues, anchovies, cavaire, and Poultry Compter.
wines." On the 31st of the same month, the first Lady Gresham continued to receive the emoluments
stone of the column on the east side of the north arising from the Royal Exchange, in rents, fines, &c.,
entrance was laid by the Duke of York, afterwards until her decease, in 1596, before which time they foundation-stone of the eastern column of the south
James the Second, and on the 18th of November, the amounted to 7511, 58. The Exchange built by Sir Thomas Gresham, was
entrance was laid by Prince Rupert. The architect nearly destroyed in the Great Fire of 1666, not employed was Mr. Edward Jerman, and not as has quite one century after its completion. Evelyn, in
been often stated, Sir Christopher Wren ; the work his account of this awful calamity, laments the
was diligently superintended by the joint committee Sumptuous Exchange;" he tells us also, that “Sir of the Mercers' Company and the Corporation of Thomas Gresham's Statue, though fallen from its London, appointed for that purpose by those bodies. niche in the Royal Exchange, remained entire, when
The following official entry was inserted in the all those of the kings since the Conquest, were
books by an order dated Dec. 16, 1667:broken to pieces.” Another eye witness of the great
A letter from the Right Honourable the Earl of Manfire, the Rev. T. Vincent, after remarking in his God's chester, recommending one Caius Gabriel Cibber to the
making the statues for the Royal Exchange, and the rather Terrible Voice in the City, that no stately building was in regard he hath shown his Majesty some models which so great as to resist the fury of the flames, continues : have been well liked of, having been read; the committee
The Royal Exchange itself, the glory of merchants, is called the gentleman in, and acquainted him that the now invaded with much violence: when the fire was entered,
business of making the statues is yet very much from their how quickly did it run round the galleries, filling them with thought, having the whole Exchange to build first;Land flames: then descending the stairs, compasseth the walks, that a new committec will succeed before the main work giving forth flaming vollies, and filling the court with sheets be effected, to whom, when fitting time shall come, he may of fire ; by and by the kings fell all down upon their faces, do well to apply himself. and the greatest part of the building aster them (the Foun. Cibber seems to have taken their advice, for he did der's statue only remaining), with such a noise as was dread-execute most of the statues. ful and astonishing.
During the period occupied by the rebuilding of In an old work styled the “Burning of London in this edifice, the merchants held their meetings at the year 1666, commemorated and improved in a CX. Gresham College, but when the works were suffiDiscourses, Meditations, and Contemplations, by ciently advanced, they took possession of the New Samuel Rolle, Minister of the Word, and sometime Exchange, which was first publicly opened on the Feilow of Trinity Colledge in Cambridge," we find 28th of September, 1669. some curious and interesting remarks upon this sub- The whole cost of rebuilding the edifice was 58,9621. ject. In the third part which treats of “ the most re- Considerable repairs have, at times, been made in markable passages and circumstances of that dread this edifice. In the year 1767 Parliament voted ful fire," Meditation IX, is Upon the burning of the 10,0001. for the purpose; and it was then found Royall Exchange.
necessary almost to rebuild the western side. But
the most extensive reparations and improvements What a princely foundation (says the writer,) was that Royal Erchange! and of how great use ? Was not that the which this fabric has ever undergone were made center in which those lines met that were drawn from all between the years 1820 and 1826, from the designs parts of Europe ? rich merchants, I mean, and other eminent and under the superintendence of Mr. George Smith, tradesmen and great dealers, not merely English but architect to the Mercers' Company. These consisted Spanish, French, Dutch, Portugueze, Danes, Swedes. Was of building a new stone tower on the north front, in not the place a little epitomie or rather representative of all Europe (if not of the greatest part of the trading world,) place of a more lofty one of timber; constructing renewed every day, at such a time, and for so many hours? three new stone staircases of large dimensions ; As London was the glory of England, so was that Royal chipping, scraping, and repairing the entire surface
of the edifice; repairing the sculptured figures and VEGETABLE PRODUCTIONS OF VARIOUS scroll-work, the roof, galleries, shops, &c., in short,
CLIMATES. of renovating the whole structure. The aggregate How various are the climates of the earth, and yet expenses amounted to about 33,0001., of which the how uniform is each climate in its temperature, notthe stone staircases and floors alone cost 60001. withstanding the fact, that we traverse annually a
The old tower was a lofty structure, being one circle in space whose diameter extends over one hundred and seventy-eight feet in height; it consisted hundred and ninety millions of miles. In each parof three stories, with grouped columns and pilasters ticular climate we behold races of animals and plants, of the Corinthian and composite orders at the angles. many of which would not prosper elsewhere. Though The lower story was stone, the upper stories of tim- apparently rains, and winds, and frosts are very irreber, finished by a cupola, on which was sustained a gular, yet we find a remarkable constancy in the ponderous weathercock, in the form of a grashopper. average of the weather and seasons of each place. It was a most singular design, and strikingly dissimilar Very hot summers, or very cold winters, have little to the various church towers. The tower which re- effect in raising or depressing the mean annual tem. placed it in 1821, and the shell of which remained perature of any one climate above or below its genestill standing after the recent conflagration, was only ral standard. We must be convinced, from observaone hundred
and twenty-eight feet six inches in height. tion, that the structure of plants, and the nature of Within the area, on the four interior sides of the many animals, are specially adapted to the climate in building, were twenty-five large niches, containing which they are located. A vegetable, for example, figures of twenty-two of our sovereigns, namely :- which flourishes when the mean temperature is fiftyon the south side, Edward the First, Edward the five degrees, would perish where the average is only Third, Henry the Fifth, and Henry the Sixth ; on the fifty. If our mean temperature were raised or west, Edward the Fourth, Edward the Fifth, Henry lowered by five degrees, our vegetable world would the Seventh, and Henry the Eighth ; on the north, be destroyed, until a new species suited to the Edward the Sixth, Queen Mary, Queen Elizabeth, altered climate, should be substituted for that which James the First, Charles the First, Charles the we possess at present. An inhabitant of the equaSecond, and James the Second ; on the east, within torial regions, whose mean temperature is eighty, a conjoined or double niche, were William and Mary; would hardly believe that vegetable life could exist in George the First, George the Second, George the such a climate as ours. We have the same opinion Third, and George the Fourth.
of the arctic regions. But both are equally mistaken ; Such, then, was the Royal Exchange of London, the care of a presiding Providence is limited to no when, on the night of Wednesday, the 10th of January climate ; it last, it fell a prey to the flames. Soon after ten
Lives through all space, extends through all extent, o'clock on that night, a fire broke out in the north- Spreads undivided, operates unspent. eastern corner of the edifice; it spread with rapidity
At the equator we find the natives of the Spice towards the west, and in the space of a few hours had Islands, the clove, and nutmeg trees, pepper and mace. made a complete circuit of the quadrangle, destroying, Cinnamon bushes clothe the surface of Ceylon; the in succession, the northern, western, southern, and odoriferous sandal-wood, the ebony-tree, the teak-tree, eastern sides of the building. Of the tower which and the banyan grow in the East Indies. In the same rose above the principal entrance on the southern latitudes, in Arabia the Happy, we find balm, frankin. side, the shell alone was left standing; and some of cense, and myrrh, the coffee-tree and the tamarind. the decorations of the portico above that entrance But in those countries, at least in the plains, the trees sustained but little injury. The statue of Charles and shrubs which decorate our more northerly climes the Second, which stood in the middle of the area
are wanting. And as we go northwards, at every within, was not destroyed; but as the inner walls step we change the vegetable group, both in addition fell, they carried with them all the royal statues which
and by subtraction. In the thickets to the west of had formed so conspicuous a feature among their the Caspian Sea we have the apricot, citron, peach, ornaments.
walnut. In the same latitude, in Spain, Sicily, and It is of course very improbable that any length of Italy, we find the dwarf plum, the cypress, the chesttime will elapse before the City of London, be pro-nut, the cork-tree; the orange and lemon-tree perfume vided with another “ Royal Exchange ;” and there the air with their blossoms; the myrtle and pomeis little reason to doubt that the new edifice will sur
wild among the rocks. We cross the pass its predecessor in magnificence. The regrets of Alps, and we find the vegetation which belongs to some,
that we have not a Sir Christopher Wren Northern Europe, of which England is an instance. to rebuild it now," may be dissipated by the fact, The oak, the beech, and the elm, are natives of Great that Sir Christopher Wren had nothing to do with Britain, the elm-tree seen in Scotland and the north rebuilding it before; and little danger we should trust of England is the wych-elm. As we travel still is to be apprehended of our inability to produce as farther to the north, the forests again change their chaskilful an artist as Mr. Edward Jerman, notwith-racter. In the northern provinces of the Russian emstanding that he was considered by the committee pire are found forests of the various species of firs, the in 1667, (when Sir Christopher Wren was living,) Scotch and spruce-fir, and the larch. In the Orkney to be “the most able known artist," next to “ Mr. Islands no tree is found but the hazel, which occurs Mills the city surveyor.” At all events, there is little again on the shores of the Baltic. As we proceed hazard in predicting, that ere long a new edifice will into colder regions, we still find species which appear be erected, and in the conceited doggrel of an old to have been made for these situations. The hoary ballad, written soon after the Great Fire of 1666,
or cold elder makes its appearance north of StockTh’ Exchange, that Royal Infant, shortly will
holm ; the sycamore and mountain-ash accompany Her own and forreign language speak with skill, And on that acre the noon sun shall see,
us to the head of the Gulf of Bothnia ; and as we All his long travels in epitomie.
leave this, and traverse the Dophrian range, we pass
in succession the boundary lines of the spruce-fir, That which is good to be done, cannot be done too soon;
the Scotch-fir, and those minute shrubs which botaand if it is neglected to be done early, it will frequently nists distinguish as the dwarf-birch and the dwarfhappen that it will not be done at all. - BISHOP MANT. willow. Here, near to, or within the arctic circle,
we yet find wild flowers of great beauty,—the meze- narratives be employed for depicting scenes of vice,
reon, the yellow and white water-lily, and the another evil of the greatest magnitude is likely to 2 European globe-flower. And when these fail us, the result from them, even though the conduct exhibited
reindeer-moss still makes the country habitable for should be shown to end in remorse and misery. For animals and man.
by the mere familiarity with vice, an injury is done to 2 은 So also there are boundaries to the growth of corn, the youthful mind, which is in no degree compensated
the vine, ind the olive. Wheat extends over certain by the moral at the close. Imagination, therefore, is tracts from England to Thibet; it does not flourish a mental power of extensive influence, and capable of in the polar regions, nor within the tropics, except in being turned to important purposes in the cultivation situations considerably raised above the level of the of individual character. But to be so, it must be kept
sea. The temperature required for the cultivation of under the strict control of reason and of virtue. If : the vine must not be under fifty, nor much above it be allowed to wander at discretion, through scenes
sixty-three degrees, though, in the warm climates, of imagined wealth, ambition, frivolity, or pleasure, it i elevation of situation will correct the excess of heat. tends to withdraw the mind from the important pur
Maize and olives have their favourite regions in suits of life, to weaken the habits of attention, and to France, Italy, and Spain. We first meet with rice impair the judgment. It tends in a most material [ west of Milan ; it extends over the northern pro- manner, to prevent th due exercis of those nobler i vinces of Persia, and over all the southern districts of powers which are directed to the cultivation both of 2 Asia, where there are facilities for irrigation.
science and virtue. Millet is one of the principal grains of Africa. The state of a mind which has yielded itself to the i Cotton is cultivated in the New World no higher influence of this delusive habit, cannot be more
than forty degrees latitude; in the Old it extends to forcibly represented than in the words of an eloquent i latitude forty-four degrees, being found in Astrachan. writer :: Exceptions, indeed, occur with respect to the sugar
The influence of this habit of dwelling on the beautiful cane, the indigo-tree, the plantain, and the mulberry, fallacious forms of imagination, will accompany the mind all datives of India and China; for these productions into the most serious speculations, or rather, musings, on have found a genial climate in the West Indies and the real world, and what is to be done in it, and expected; South America. The genuine tea-tree seems indis
as the image which the eye acquires from looking at any É posed to flourish out of China, though the South The vulgar materials that constitute the actual economy of
dazzling object, still appears before it wherever it turns. American Indians have something like it. The
the world, will rise up to its sight in fictitious forms, which Cassava yams, the bread-fruit-tree, the sago-palm, it cannot disenchant into plain reality, nor will even suspect and the cabbage-tree, are all apparently special pro- to be deceptive. It cannot go about with sober, rational visions for the islands in which they are peculiarly inspection, and ascertain the nature and value of all things found to flourish.
around it. Indeed, such a mind is not disposed to examine, It is impossible, we think, to reflect upon all this with any careful minuteness, the real condition of things.
It is content with ignorance, because environed with somevariety of natural wealth, and upon the adaptation thing more delicious than such knowledge, in the paradise of each species to the climate in which it is found, which imagination creates. In that paradise it walks dewithout perceiving that the distribution of those pro- lighted, till some imperious circumstance of real life call it ductions,—no one climate yielding a perfect substi- thence, and gladly escapes thither when the avocation is tute, generally speaking, for that of another,-was
past. There everything is beautiful and noble, as could be originally designed to prompt and to continue desired to form the residence of an angel. If a tenth part
of the felicities that have been enjoyed, the great actions throughout human existence, that commercial and that have been performed, the beneficent institutions that friendly intercourse which has been long since esta- have been established, and the beautiful objects that have blished between the inhabitants of countries the most been seen in this happy region, could have been imported remote from each other.—Quarterly Review.
into this terrestrial place, what a delightful thing it would have been to awake each morning to see such a world once
ON READING WORKS OF IMAGINATION. To the same purpose are the words of another TRERE has been considerable difference of opinion in writer of the highest authority :regard to the effects produced upon the mind by out upon the wing, is often the sport of those who delight
To indulge the power of fiction, and send imagination fictitious narratives. Without entering minutely upon
too much in silent speculation. He who has nothing the merits of this controversy, I think it may be con
external that can divert him, must find pleasure in his own tended that two evils are likely to arise from much thoughts, and must conceive himself what he is not,-for indulgence in works of fiction. The one is a tendency who is content with what he is ? He then expatiates in to give way to the wild play of the imagination, a boundless futurity, and culls from all imaginable conditions practice most deleterious both to the intellectual and that which, for the present moment, he should most desire ; moral habits. The other is a disruption of the har
amuses his desires with impossible enjoyments, and confers
upon his pride unattainable dominion. The mind dances mony which ought to exist between the moral emotions from scene to scene, unites all pleasures in all combinaand the conduct,-a principle of extensive and im- tions, and riots in delight which nature and fortune, with portant influence. In the healthy state of the moral all their bounty, cannot bestow. In time, some particular feelings, for example, the emotion of sympathy excited train of ideas fixes the attention; all other intellectual by a tale of sorrow, ought to be followed by some gratifications are rejected; the mind, in weariness or efforts for the relief of the sufferer. When such rela leisure, recurs constantly to the favourite conception, and tions in real life are listened to from time to time with the bitterness of truth. By degrees the reign of
feasts on the luscious falsehood whenever she is offended without any such efforts, the emotion gradually fancy is confirmed; she grows first imperious, and in time becomes weakened, and that moral condition is despotic. Then fictions begin to operate as realities, false produced which we call selfishness, or darkness of opinions fasten upon the mind, and life passes in dreams of heart. Fictitious tales of sorrow appear to have rapture or of anguish. a similar tendency,—the emotion is produced with
[ABERCROMBIE on the Intellectual Powers.] put the corresponding conduct; and, when this habit has been much indulged, the result seems to be, / WHATEVER God himself has pleased to think worthy of that a cold and barren sentimentalism is produced, his making, its fellow-creature man should not think uninstead of the habit of active benevolencc. If fictitious ! worthy of his knowing.–Boyle.