Acrylic Fridge Magnet Of The Royal Exchange In London In The United Kingdom
This is an attractive memento of the Royal Exchange in London in the United Kingdom. The Royal Exchange was officially opened by Queen Elizabeth I in 1571. The original building was destroyed in the Great Fire of London in 1666. A second exchange was built on the site in 1669, but was also destroyed by fire in 1838. The third Royal Exchange building, which still stands today, adheres to the original layout - a four-sided structure surrounding a central courtyard where merchants and tradesmen could do business - was opened by Queen Victoria in 1844. The Royal Exchange ceased to act as a centre of commerce in 1939, and is now a luxurious retail centre with shops and restaurants. Shops include Hermès and Tiffany & Co.
History Of Trading At The Royal Exchange
Sir Thomas Gresham suggested copying the European way of doing things, by moving trading from the muddy streets into a purpose-built building. Gresham’s inspiration was the Bourse in Antwerp, the trading floor was in the Flemish-style open to the elements, with piazzas for wet weather. Its bell-tower, summoned merchants at 12 noon and 6pm. 2 upper floors were rented to merchants making this the first shopping mall in Britain. Queen Elizabeth I ordered its change of name from the Bourse to the Royal Exchange in 1570. Thereafter it was known as much for the range of goods on sale as for the trading. Although its shopping was a pleasant diversion, Gresham’s Royal Exchange was key to the new wealth of the City. Queen Elizabeth I licensed legal landing quays for goods on the banks of the Thames, ensuring the Crown got its share of the wealth, underpinning London’s status as the new centre for trading.