The Cambrian

TOTAL DESTRUCTION OF THE ROYAL EXCHANGE BY FIRE. An event which may be regarded almost as a national calamity occurred on Wednesday night, by which the Royal Exchange has been reduced to a heap of ruins—a destruc- tive fire has laid waste this extensive commercial building, one of the most magnificent in Europe. Soon after ten o'clock on the above night, the fire broke out in Lloyd's Coffee-room, at the north-east corner of the edifice, opposite the Bank. It was first discovered by one of the Bank watchmen, who gave the alarm at the gates, and the Bank engines were immediately brought. A troti-, y 11 party of the City police and night watchmen, and the sol- diers on duty in the Bank, immediately repaired to the spot, and expresses were sent to the fire-engine stations, at which period no signs of fire could be seen from the street. Great difficulty was experienced in obtaining entrance to the building; when this was accomplished the flames burst through tiie windows with great fury, and drove the people back. An extraordinary scene ensued the whole neigh- bourhood was alarmed, and the tradesmen who hold the small shops around the exterior of the building instantly commenced the removal of their goods. It was at once predicted that the whole building would be destroyed, and this foreboding was realised too correctly. The Jozies- square, Whitecross-street, Farringdon-street, Southwark- bridge-road, Holborn,Chandos-sti eet, Schoolhouse-lane, and Wellclose-square engines, with those belonging to the West of England, the County ofnce.&c., were all on the spot, with 63 of the fire btigade men, within an hour after the fire broke out. liefoie any water could be thrown on the building it was necessiry to thaw the hose and works of the engines by pouring hot water upon them, and this caused some delay. For some time afterwards, owing to the intense frost, there was great difficulty in working the engines, and the tire continued extending in a south- west direction, comsuming the whole of the long range of of- fices belonging to the Royal Exchange Assurance Company. At 12 o'clock these and Lloyd's establishment, the coffee- room, the capraiu's room, and the offices of the under- writers, presented one body of flame, which shot up to a great height, illuminating the Bank, St. Bartholomew's, St. Michael's, and St. Mary's, churches. Every object was as visible as at noon-dav, and the people had assembled it, such large numbers, that the police and military were fully occupied in keeping them beyond the reach of danger, which was veiy great, ovvi ig to the large quantities of burning timber falling every miuute into the street. At this time it was found necessary to clear the intetior of the area of the Exchange of the people col lected the: e, owing to the density of the smoke and the rapd progress of the fire, but many could not be induced to leave the covered walks until they were half suffocated, ami not a few were expelled by force for their own safety. The gates had been forced open with crowbars at the commencement of the fire. At one o'clock the north and west side of the Exchaage were consumed, and the fire was rapidly approaching the new tower, which was erected about 20 years ago. The efforts of the firemen appeared not to have the least effect; the Hames extended rapidly over the buildin. although not le s than 20 engines were at work; indeed, tor whitgojd they seemed to do, they might as well have been unem- ployed. The Lord Mayor and a great number of commer- cial gentlemen urged Mr. Braidwood to cut off the commu- nication, and save the remaining portion of the edifice. He explained that it was impossible, the building was so con- nected together with one continuous roof, and there was such an immense volume of flame, that it would be fatal to any man who ascended the building. No one could doubt the accuracy of Mr. Braidwood's opinion, and the fire con- tinued its work of destruction, proceeding from floor to floor, and running along the corridors with the greatest rapidity. At two o'clock the flames reached the tower, and the terror 0" and excitement of the assembled multitudes in Cornhiil, Mansion-house-street, and the Poultry, were extreme. A thousand vo'ces murmured, It has reached the tower, it's all over." The appearance of the frightful conflagration at this period was awful in the extreme the whole of the Exchange was completely enveloped in thmes, and the heat was so great that the firemen and auxiliaries could scarcely pursue their labours near the burning mass. The splendid tower, nearly L30 feet in height, was reduced to ashes, the musical peal of eight bells, with a tenor of about 18 cwt., fell one after the other, carrying away everything in their progress towards the pavement, including the roof and stone- work, and the arch over the centre entrance. The clock had a very singular effect while the tower was burning, which was no doubt visible at a considerable distance. The plates of the dial became red-hot, and the hands pointed to the hour, 25 minutes past one, when the works took fire, melting the chime barrels and the machinery in a few minutes. It i3 utterly impossible to describe the scene which presented itself to the eyes of the spectatora, for al- though th«,sky was unclouded, and the moon shone forth iu all its splendour, yet its celestial brightness was totally ob- scured by the dense volumes of smoke and flames which issued from the ruins. A shower of fire was seen hovering over the houses to the south of the Exchange. On the tower being discovered to take fire, the Lord Mayor sent a messenger to the Tower for some troops to assist the civil power, and in a very short time a large body of soldiers arrived, some of whom took up a position on the south side of Cornhiil, while others were ordered to assist the inhabi- tants in removing their property to places of safety. Corn- hill was immediately cleared of the people, who, it is but justice to state, behaved in a very decorous manner, and but one feeling, that of regret, seemed to prevail. Every- body viewed the fire with astonishment and dismay, and the greatest fears were entertained for the safety of the Bank and the adjoining church of St. Bartholomew's, abutting on the north-east comer of the Exchange. The munhudeftf- quently gave vent to their feelings by exclamations of a hope that the Bank and church would be saved. Fortunately the wind blew from the north, and both edifices remained nn. touched, and were made repositories of large quantities of goods which were carried there. At half-past two ''clock a general opinion seemed to prevail that the officers of the Royal Naval Hospital, at the side of the Exchange, would not be reached, and on a suggestion by some gentleman pre- sent, several engines were ordered to be drawn p opposite Sweeting's-alley. On this being done the hosefwere con- veyed to the tops of the houses on the east side o the alley, which is a very narrow one, by which means the firemen had a perfect command over that portion of the Exchange, and torrents of water were discharged into the inteiior of the building, but notwithstanding all their efforts the flames rapidly extended, and the firemen were obliged to retreat in consequence of the great heat. The persons employed at the engines worked to their utmost, many of them up to their knees in water and ice, and they were encouraged in their efforts by the Lord Mayor and aldermen present, but unfortunately no one thought of obtaining any refreshment for the poor fellows. The firemen's coats were covered with ice, and the whole of Mansion-house-street, Walb ook, Bucklersbury, and every other thoroughfare in the vicinity of the Exchange was covered with water, wh;/ch soon became fiozen. The Gresham lecture-room was totally consumed. At half-past three the north-west and south sides of the immense building were burnt down, and the flames had ieached the east, threatening the entire destruction of the range of shops and dwelling-houses connected with the Ex- change, and forming the west side of Sweeting's-alley. The inhabitants on both sides of this narrow court succeeded in removing the greater portion of their furniture and stock in trade before the flames reached the alley, and goods to the amount of 5D,030/. were deposited in places of safety; but a good deal of heavy furniture could not be got out of the houses, and was sacrificed. At four o'clock the fire was still raging with unabating fury. The wind, which was blow- ing tresh all the night, had increased almost to a tempest, and the immense area was one body of flames. The re- maining wing, the cas;, shared the fate of the others, and with it the houses and shops in Sweeting's-alley, forming part of the main building. The firemen again got on to the roots of the houses on the opposite side of Sweeting's-alley with their hose and branch-pipes, connected with eight powerful engines, and directed a plentiful supply of water over tIIQ shops and houses below them, by which they were kept cool and prevented from igniting. The eastern wing of the Exchange, like the other, was soon reduced to a heap of ruins, the flames spreading from floor to floor, and from one story to the other. The roaring of the elements, the falling of huge timbers, and the. noise of the engines oc- casionally intermingled with the shouts of the firemen and assistants, was almost deafening. The firemen never flagged in their efforts from the commencement of the fire but in vain, the Exchange no longer existi, it is entirely destroyed. The walls in the interior of the Exchange fell with a tre- mendious crash, carrying away with them the numerous statues of the kings and queens who have reigned in Eng- land from the time of William the Conqueror. The shell the lufty tower still remains, but it is feared that it will fall, and should it come down in the direction of the houses opposite onCornhill, the destruction of property will be fear- ful. It is but right to state that every precaution has al. ready been taken by the city authorities, and no one is allowed to pass along Cornhiil. At five o'clock the fire was still raging, but all apprehension of danger to the surround- ing buildings was at an end. The works ot several engllles at this hour were so clogged by the frost that it was impos- sible to work them. Crowds of persons were assembled in all parts of the City, and nothing else talked of but the desti uction of the Roval Exchange. The shops of the news-agents and booksellers and the offices of the stock- brokers are consumed. Several accidents occurred during the fire, and one man, who received very severe injuries hy the falling of a chimney at the south-west angle of the building, was removed to the hospital. Serious as the loss of th's noble building must be to our merchants! and citizens, and the nation at large,'the inter- ruption the dreadful calamity must occasion to business will be ten times more so. There is no calculating the great ineon- ventenca wincti nmst be the remit of tins event, as far as business is concerned, and the merchants and traders will for a time be deprived of their o'.d meeting placc. It is, of course, well known that the Gresham committee, named after the founder of the building, Sir Thomas Gresham, are the trustees <M the property. The appearance cf the Roval Exchange building in the morning was of the most desolate description. The four noble walls are standing entire, at least externally, but every window is out, and nothing to be seen through their vacant frames but the smoke arising from the mass of burning ruins, and here and there a beam or a rafter still in flames. The tower, although so high above the rest of the building, did lIot escape the all-devouring flames, and everything con. sumable in it has been burnt; the clock is destroyed, and the face is no longer to be seen which for so many years has been the monitor of all engaged in that heart of England's commerce—the vicinity of the ltoyal Exchange. The great gates, both north and south, are also reduced to ashes, and nothing U left but the massive hinges aud iron frame-work which surrounded them. A peep in at the principal entrances where these gates I stood tells a more dreary tale of the awful destruction which has been etfected by the ravages of the flames, if possible, than a survey of riie exterior. Nolongrr is there anyap- pearance of the architectuiF.1 and sculptural beauties which every quadrangle of this fin.e btiiUUag before presented.. 4U the effigies of royalty wbtoh adorned the walls have been reduced to blackened masses, or have fallen from their niches and been dashed to pieces. The whole space within the quadrangle is covered with smoking ruins, and looks like a spot visited by a shock of an earthquake. That fine statute of King Charles, standing on a marble pedestal, and surrounded by an iron railing, remains, how- ever, uninjured, and appears to be surveying the scene of destruction and ruin with the most Platonic indifference. This will be almost the only relic of the interior of the building. The clock tower, of which only the stone work remains, was considered by many to be so shaken by the effects of the intense heat to which it had been exposed, that its fall was momentarily expected; so that no attempt was made during Thursday to shore up the walls on which it rests. A more minute examination, however, removed all fears on that ground, and we understand it to be the opinion of more than one skilful architect, that though the tower must be eventually taken down, there is no present danger of its fall. The destruction which it would occasion to some of the houses opposite would be terrific. Should it fall into the quadrangle, the additional ruin would be inconsiderable. From the appearance of the tower at the close of daylight on Thursday, we should be inclined to say, that if it does fall, it will be inward in the quadrangle. To the question which every person asked on Thursday as to tho origin of the fire, we have not heard that any satisfactory answer was given. The general belief was, that it commenced in some part of the btiiidingoccupied by Lloyd's, but how, or in what portion of that building it began still remains, and is likely to re- main, a mystery. One thing seems certain, that, however it commenced, it had been burning for a considerable time. It is s ated that the head waiter and the porter at Lloyd's, who left the premises between eight and nine o'clock, saw everyth ng safe. We are given to understand that the books, bills, and other important documents belonging to several individuals whose premises were destroyed, have been pre- served by means of patent fire-proof chests. Several of these have been dug out of the ruins and conveyed to the Bank of England. One large chest belonging to a broker, and containing bills and bonds to a considerable amount, was found with the whole of its contents consumed. Many providentially succeeded in saving the greater portion of their stock and books, whilst others have lost all or nearly all. But many days must elapse before the real loss of many whose premises were destroyed can be known. It is worthy of remark, that the statue of Sir Thomas Gresham, in the centre of the square, which is surrounded by piles of huge stones, which had the appearance of nil- slacked lime on which water has been thrown, remains un- injured. The only figure now remaining in the niches is th at of Mr. Alderman Barnard. It may be a curious fact to be known to some of out- speculative readers, that the dial of the clock towards the north (the Bank side) stood at 25 minutes past one o'clock, white the opposite dial (0" south) stood at five minutes past two o'clock—we suppose indicating the exact time at which the devouring elem nt reached them respectively. It was a curious spectacle to see the tire raging while in many places the icicles were hanging from the windows, and that side of the building in Sweeting's-alley was one mass of ice. The confusion, not only in the neighbourhood of the Royal Exchange, but in the City generally, was very great during the whole of Thursday. Cornhiil, with all the ap- proaches to the Exchange, continued blocked tip by crowds constantly on the increase, The interest evinced on the oc- casion was the most intense ever witnessed in the City. The promptitude with which the case of the underwriters of Lloyd's was met reflects credit upon Messrs. Harpur and Hardy, of the Jerusalem Coffee. house, Corn hill, the place of resort for the East In iia trade. At half past on? in the morning, they had already despatched advertisements to the morning papers, advising that their large rooms would be opened for the temporary accomodation of the subscribers to Lloyd's, and at the same set people to work to make ar- langements accordingly. Thus the greater part of the un- derwriters learnt from the morning papers, before their ar- rival at business, not only of the conflagration of their rooms, but of the preparation of another place for their reception. It appears that Lloyd's has been transferred to the London Tavern, where the proprietors have appropriated commo- dious rooms for their reception, and the captains' room un- derneath them. The Royal Exchange Company have taken Sir James Esdai!e's house, in Lombard-street, where their business will in future be carried on. The Lord Mayor's Court has been fixed at the Mansion-house. Early on Thurs- day his lordship gave notice for the holding of 'Change at the Guildhall for the present. Altogether the arrangements for seeming the unimpeded course of business, rendered pressing by this unlooked for calamity, have been the most efficient that circumstances admitted of, and such as could have been so promptly made in no other city. At the usual hour of 'Change it was curious to witness the mer- chants flocking into their new place of meeting, the Guild- hall, uncertain where the walks," as are technically called, the peculiar places where people engaged in the same de- scription of traffic, were to be established. For some time the first comers amused themselves with promenading the hall in search of old faces, and in proportion as these ap- peared,councils were held to resolve the knotty point. In- sensibly, a general understanding was, as if by common consent, come to, to take up their positions as nearly as possible on a line with their late ones in the Royal Exchange, taking the entrance door from King-street as the starting point, which was in a line with the opening of the Exchange from Cornliill, and, like it, faced the south. Thus the gentlemen of the Spanish, the French, and the Baltic walks, tell into order atlait; and, notwithstanding the novelty of their situation, commercial affairs began to resume their customary routine. On the whole, it is believed, the de- struction of property will not have been so great as might have been expected..Most of the tradesmen occupying the small shops on and round the basement of the Exchange were able to carry off a considerable part of their stock and books of account. It has been stated, that the last time the bells of the clock chimed was at 12 o'clock, and the tune, "There is nae luck about the house;" a curious coincidence, and which is stated to have singularly affected all the crowd of by-standers. This, if true, will form a standing dish of gossip for all the lovers of the marvellous. We hear, on the authority of the Committee of Lloyd's, that all their papers have been destroyed; in fact that not a single document or paper of any kind has been saved. On Friday, the iron chcsts belonging to the Roval Ex- change Assurance Company could be distinctly seen from the area inserted in the walls. Ladders were rai ed against the walls, and they were opened, when it was discovered that fit-. contents, consisting of deeds and other papers con- nected with the company and their insurances, were un- injured. This afforded much satisfaction to the directors. Another iron-safe, belonging to Mr. Hathway, whose office under the tower was consumed, also in a recess of the wall, was opened at the same time, and 1,0001. in francs, besides bank-notes were taken out. On searching the ruins under 'he Lord Mayor's Court-office, the great City seal was picked up, with two bags containing 2001. in gold, uninjured. On this discovery being communicated to the Lord Mayor and aldermen, it caused much gratification, it having been rumoured that the corporation would lose their charter by the loss of the seal, but we did not hear it explained how this could be. Owing to the great body of fire underneath the ruins at the north-east angle of the Exchange, it was impossible for the firemen to ascertain, until a late hour, whether any in- jury had been done to Lloyd's secretary's books, which were deposited in a large iron safe inserted in the wall. Two e ngines had been playing during the latter portion of Friday. In the presence of several of the committee it was opened, when it was discovered that the fire had readied the books, and partially consumed them. In the drawers were checks on the bank of England to an enormous amount, and also Bank of England notes to the amount of, it was said, 2.5001. The notes were reduced to a cinder, and on the drawers being opened, the air, rushing in upon the tender fragments, blew them over the Exchange. They were, how- ever, very carefully collected, and the tinder ot the notes was with much trouble and caution put in a tin case, which was taken to the Bank, and the words Bank of England," with the numbers and dates, were distinctly traced. The amount wil;, in consequence, be paid to the owners. From what information could be obtained from the gentlemen who took possession of the box, and who were understood to be underwriters, it was the usual custom of the secretary not to leave any money or notes in the safe, but to deposit the money in the Bank, which was done on the evening the fire took place. The money and notes above mentioned, and which were found in the safe, belonging to a subscriber, who, in the afternoon of Wednesday, asked permission to deposit his money in the safe until next day, which was acceded by the secretary. Some idea may be formed of his state of mind on arriving at the Exchange on the following morning to see it on fire, and he was in a state of distraction until the finding of the cinders of the notes, which has in some measure calmed his feelings. The underwriters are severe sufferers, having left sums of money to a large amount in their desks, which no doubt will never be recovered. During the confusion, on the discovery of the fire, in re- moving some desks from a room in the north-east corner, it, addition to the 5001. Bank of England notes which were taken to St. Michael's church, twenty sovereigns in a bag we e thrown out of the window. The bag burst, and the sovereigns rolled about the pavement. They were all picked up by the mob, who appropriated them to their own use. Official Report.—On Friday Mr. Brai Iwood, the superin- tendent of the London Fire Brigade, sent in a report to the various fire-offices of the damage caused by the la e con- flagration, as tar as the p irticulars could be ascertained up to twelve o'clock on Thursday night. According to the re- port, it appears that the whole of the Royal Exchange, com- prising four wings, occupied as Lloyd's Coffee-rooms, the Hoyal Exchange,Shipping.Fire, and Life Assurance Offices, the Gresham Committee-rooms, the British Merchant Sea- men s Institution offices, and other offices belonging to nu- meroos individuals, were totally consumed. The Exchange w is the property of the Gresham Committee and the Mercers' Company. The whole of the building was insured in the Royal exchange*Insurance Company. CASTLE-ALLEY, CORNHILL. IVir. Charles Williams, No. 1, watch-maker, the building and stock greatly ilaniaged; insurance unknown. No. 2, Withers and Scores, public notaries, stock consumed, which is insured in the Guardian oflice. No. 3, Messrs. James Bethel and Co., stationers, the stock entirely consumed insured in the Guardian. No 4, Dundee Steam Packet Office, belonging to a Company, contents of the shop consumed insurance unknown. No. 7, Sutton, Son, and Grilible, business not ascertained, (he stock consumed; insurance unknown. No. S, Messrs. Foster and Son, stock-brokers, the contents of the shop consumed. No. 9, Mr. Davis, stock-broker, stock consumed. No. 10. Messrs. De Hague and Co., stock brokers, the contents of the shop consumed insurance unknown. No. 11, Mr. Peak, stock-broker, stock wholly consumed; not insured. No. 12, Messrs. Boughton and Grinstead, stock-brokers, stock consumed, insurance unknown. NORTH SIDF. OF THE EXCHANGE. No. 1, George Palmer, stooi-broker, consumed not ioiured. No. 2, Mr. statkaner, stock #n« shop consumed; in- surance Qnknowa, No. 3, Mr. Pedley, soda-water maker, cotunfned insurance unknown. No. 4, Mr. Jones optician, stock in trade aud shop destroyed insurance unknown. No. 5, Messrs. Barrup and Blight, stationers, stock and the fixtures in the shop greatly damaged; insured in the London i office. No. 6, Mr. Eastwood, auctioneer, shop and contents consumed; insurance unknown. No. 7, Mr. Hodges, tobacconist, shop and stock in trade de- stroyed insurance unknown. No 8, Bromley and Co., booksellers, shop and stock con- sumed insurance unknown. SWEETING'S-ALLEY. No. 12, Mr. Tent, hosier and linen-draper, the stock greatly damaged, and the fixtures in the sh p injured not insured. No. 13, Mr. Paw!ey,ma;)se)ier,great!y damaged not insured. The upper floors of Nos. 12 and 13 wero occupied by Mr Henry Totvgood and Mr. Lotigbridge, business unknown tliev have sustained considerable injury by fire and water they are not insured. Nos. 14 and 15, Mr. G. L. French, chronometer-maker, the back part of the premises burnt, and the whole much damaged not insured. No. 16, Messrs. Venn and Co., notaries, the premises con- siderably damaged by water not insured. No. 17, A double house, one portion occupied by Messrs. Vegennie and Co., hat-makers, and Mr. Smith, watch-maker, greatly damaged insurance unknown. No. 18, Mr, Bullon, confectioner, the stock damaged, and building injured by fire not insured. No. 19, Barker and Son, halters, shop and contents greatly damaged insurance unknown. No. 20, Mr. Joseph, bootmaker, much damaged; insurance unknown. SOUTH SIDE OF THE EXCHANGE. No. 90, Mr. Graves, tobacconist, the shop and stock therein consumed insurance unknown. No 91, Sholl, name of the occupier unknown, consumed. No. 88, Eiiiiighaui Wilson, bookseller, the shop injured, and the stock damaged by hasty removal and water; insurance un- known. Everitt, news-agent, shop totally consumed; insurance un- known. Lott, stationer, shop and contents consumed; the stock is in- sured in the Phoenix Otfiee. In addition to the foregoing particulars, it is ascertained that the offices of Messrs. Bell, Hatlmay, Holmes, and Pottle and Lettley, on the south side of the Exchange, of which no mention is made in Mr. Braidwood's report, are consumed. The shop of Mr. Williams, watchmaker, at the corner of Castle-alley, has sustained much damage, but whether insured or not could not be discovered. In Sweet- ing's aney, the houses and shops on the east side, from No. 1 to No. 7 inclusive, occupied by Mr. Edith Terrv, pro- prietor of the Turkey and Mediterranean Coffee-house Mr. Noxley, silversmith and jeweller Mr. Samuel Knight, printseller; Messrs. Joseph Sykes and Co., tobacconists Messrs. Henry and John Baldwin, woollen drapers and tailors; Mr. Booth, hat-makef; and Messrs. Simpson and Co., tailors—are all much damaged, in consequence of its having been deemed necessary to carry the hose of the en- gines through the dwellings, to prevent them taking file. ORIGIN OF THE ROYAL EXCHANGE. (From an old number of the Mirror.) Four centuries since the merchants of London could not boast of a public exchange. They then assembled to trans- act 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, tor 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 wuld be impractica- ble, and the scheme wai therefore dropped • but in the rei<m 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 15G4Sir 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 corpora- tion met the proposal with a spirit of equal liberality; and in 1566 various buildings, houses, tenements, See., in Corn- hill, were purchased for rather more than 3,5301., and the materials re-sold for 4781., on condition of pulling them down and carrying them *way. The ground plot was thon levelled at the cha ge of the City, and possession given to Sir Thomas, who in the deed is styled, agent to the Queea's highness," and who laid the foundation of the new Ex- change on the 7th of June following; and the whole was covered in before November 1567. The plan adopted by Sir Thomas in the formation of his building was similar to the one at Antwerp. An open area was inclosed by a quadrangle of lofty stone buildings, with a colonnade as at present, supported by marble columns of the Doric order, over which ran a cornice, with Ionic pi- lasters above, having nitches between, containing statues of the English Sovereigns. The entrances were from Cornhiil and Broad-street. Over the first, between two Ionic three- quarter columns, were the royal arms, and on either -ide were those of the City and Sir Thomas; on the north side, but not exactly in the centre, rose a Corinthian pillar to about the same height, as the tower in front surmounted with the grasshopper. In every other respect it was similar to the south. Over the arcade were shops, to which yon ascended by two staircases, north and south. Above stairs* were about one hundred shops, varying from 9i feet to 20 in breadth, 4 and forming a sort of bazaar, then called the Pawne. The-e shops for the first two or three years did not answer the expectation of the founder, for such was the force of habit, that the merchants, notwithstanding all the inconveniences attending Lombard-street, could not be prevailed upon to avail themselves of the new mart. The building had been opened two or three years, when the Queen signified her intention of pay ing it a visit of in- spection but so many of the shops still remained unoccu- pied, that Sir Thomas found it necessary to go round to the shopkeepers, and beseech them to furnish and adorn it with wares and wax lights, in as many shoppes as they either could or wonlde, an I they should have ailt hose so fur- nished rent free for that yeare."—Stoue. Her Majesty on the day fixed (Jan. 23, 1570), having dined with the founder at his house in Bishopsgate-street, returned by the way of Cornhiil, and entered on the south side; and having viewed it, she expressed herself much pleased, and, with the national spirit which so eminently distinguished her, commanded that, that instead of the foreign name Bourse, by which the citizens had begun to call it, it should be styled, in plain English—The Royal Exchange—which was proclaimed by sound of trumpet:— Proclaim through every high street of the city, This place be no longer called a Burse," But since the building's stately, fair, and strange, Be it for ever called—The Royal Exchange." The building could not have been very substantial, for by an entry in the ward-book of Cornhiil ward, we find that in 1581, not fourteen years after its completion, some of the arches of the arcade were in an unsafe condition, and the lives of the merchants passing under were in danger. And further—in 1603 another entry states that the east and north walls were also unsafe; and thus it continued wanting still greater repairs, in which the Mercei's Company expended vast sums of money, till it was entirely destroyed in the great fire of 1666. Sir Thomas Gresham, by his will, bequeathed this build- ing, with his house in Bishopsgate-street, to the Mercers' Company and the Corporation of London, in joint trust; the house as a college, and the produce of the Exchange for the payment, in the first pldce, of the salaries of the lecturers and the other expenses of the college; and secondly, of cer- tain annual sums to different hospitals, prisons, and alms- houses. Such was the origin of tht" Royal Exchange. After its destruction 1!1 16G6 the funds in the hands of Sir Thomas Gresham's trustees amounted to no more than 2341. 8s. 2d.; but, with a spirit beyond all praise, they contributed from their own resources the necessary sum for rebuilding the Exchange, wh ell was completed and opened September 28, 1G69, the total cost being 58,0021., which the City corpora- tion and the Mercers' Company defrayed equally between them. Since that period it has undergone several repara- tions; but a most complete and substantial one was com- menced in 1820, under the direction of Air. George Smith, architect to the Mercer's Company, the estimated expense of which was nearly 33,0001.; and the staircases on the north, south, and west sides have since been built of stone at an expense of about 6,0001. The emoluments derived by Lady Gresham from the Royal Exchange are stated to have amounted to 7511. 5s. per annum and these she continued to enjoy till her decease in the year 159G; but the Mercers' Company, instead of profiting by the donation, had, after the late" repairs, ex- pended out of their own fund no less than a sum of 200,5001. From an old vestry book belonging to St. Michael's we also learn the rents of the shops, which were at first only forty shillings In the course of a few years were raised to four niarks- arter- wards to four pounds, and after the fire they were let at ten shillings per foot.