maxime for you will find it universally true viz. That all Cities Corporations Bodies politick Market-Towns and the like have all of them more or less their publique Places and Publick-Houses built such as Halls Courts of Judicature Market Houses Store-houses Exchanges and the like for the Honour State Benefit convenience Profit Advantage and Accommodation of the same and all these publick places built upon the publick charges have as certain and though to outward appearance somewhat insensible and constant revenue and allowance especially in great Cities belonging unto them in order to their defraying the said publick and necessary charges as any Landlord whatsoever that hath laid out 500 l. in Building of an house and thereupon doth receive some 30 40 or 50 pounds per annum as a yearly rent for the same This being premised I shall now bring it to the matter in hand by a particular instance viz. That this famous and most Magnificent structure of the Royal Exchange is one of the most necessary and most publick places that is built within your Metrapolitane City of London although there are several others as Guild-Hall The Chamber of London The Court of Aldermen your Market-Houses your Store-houses your Courts of Judicature the two Counters your Prison for Felons and the like which are of the same import and pray where is your visible and apparent revenue whereby to re-imburse you that you do receive for them and yet notwithstanding you have so ordered the matter as that all these places and that not without very good reason as being essentially necessary and requisite as to the flourishing Estate of your City for the future are already built And that you shall be as certainly and as surely reimbursed and that with a most considerable advantage for all your cost and charges so expended I shall make it clearly appear in manner and form as followeth viz. That it is as requisite and necessary but more especially in so famous and so renowned a City as the City of London that all such publick places should be built and kept constantly in repair at the publick charges in expectation of the future benefit and advantage which the whole body should receive thereby as it is requisite and necessary that a Shop keeper should lay out 500 l. in staple commodities whereby to furnish his shop in expectation of a future trade or for a Merchant to freight out a ship to Sea with the Manufactures of England upon his own accompt in expectation to receive a considerable advantage thereby at his safe speedy and happy return And now whereas you have built this place for the honour of His Majesty so you have likewise made it more especially and in particular for the accommodation of the Merchants and all others who have converse commerce and traffick with them for the advance of your Trade for the enriching of your members and still as they do thrive florish grow rich it is ten to one but you do find them out and call upon them for Aldermen and for Sheriffs and where one holds there is many goes off by the way of fines and here is that secret mistery and insensible revenue before intimated brought to light besides many other wayes and means you have to bring yearly great Sums into your Publick Treasury although you do not nor should not receive so much quarterly by the way of Rent yet you do constantly and surely receive as much if not more than the interest of your moneys so laid out by the way of Fines And pray what are all these Fines leavyed upon the Inhabitants and rich members of your City and in other Corporations and Bodies Politick but to defray all the Publick and necessary charges upon this very accompt and this will still hold and continue so long as your City remains and continues in the like good and flourishing condition which the Lord of his infinite mercy grant may be until time shall be no more Amen Come now let us reason together pray pardon this familiar though modest expression in regard I must confess I have that high value and respect for that which we call Reason that I am unwilling to move forward one step farther in any concern whatsoever than I am guided and directed by the light thereof I will now take it for granted that upon the precedent considerations you would have rebuilt the Royal Exchange if you had not had one Tenant to have inhabited within the walls thereof And if so I would only beg the favour to ask you these questions Viz. would you not have built it with Pillars would you not have covered it with Lead would you not have paved it with Marble would you not have built it with stone would you not have erected their Majesties Effigies in the front as also the Effigies of the first Founder would you not have made such a stately Tower as is now Erected and the like and these are the things which make such a noise in your building and in the report of the people and which do arise unto so vast a Sum in your books of Accompt Now I say put all these things here mentioned together and calculate the charge thereof as near as possibly you can charge all these unto the Publick Accompt and when this is done then compute the remaining charge which you have built for the accommodation of shop-keepers within the said place and then leavy their proportions to re-imburse you for the interest of your money so laid out and for the principal also in due time And now as to those walls of Brick wherein your Tenants are inclosed by some mens computation I must acknowledge my self no competent Judge therein as being neither Bricklayer Stone-cutter Mason nor Carpenter with all the incident charges appertaining thereunto and which you have made for the accomodation of your said Tenants could not cost you above 10000 pounds and as these stately and magnificent adjuncts before-mentioned and wherewith your Tenants are environed and surrounded is no part of the building at least no part thereof so far as to be charged to the Inhabitants accompts but to the account currant viz. the Publick Account And here by the way had one hundred of the present inhabitants during the time they were in Gresham Colledge but made application to Alderman Backwell and have taken that piece of ground just before your Royal Exchange although they had given 500 l. per Annum only for the ground Rent which would have been 5 l. a piece and after that had laid down fifty pounds a piece to be laid out in building which would have amounted to 5000 pounds what a stately place might they have built therewith the said money for their own accommodations I will assure you far beyond the Accommodation they have at present within your Territories and you have charged the place with at least 50000 pounds for the inhabitants to work out and to pay you the
A Brief MEMORIAL WHEREIN The present Case of the Antient Leasees the Inward Pawn Sub-Tenants and the Outward Pawn present Tenants of the Royal Exchange truely and impartially STATED AS ALSO Some ANIMADVERSIONS and remarkable passages relating to the present and publique revenue of the said Place with some modest proposals for the future benefit and most certain advantage of the same HUMBLY Presented To the Consideration of the Right Honourable Sir Robert Viner Knight and Baronet Lord Mayor of the City of London and to the rest of the Right Worshipful and Worthy Members of the grand Committee for GRESHAM Affairs By an Unfeigned Welwisher to the Flourishing Estate of the City of London and in particular to all the present Inhabitants of the Royal Exchange within the said Place LONDON Printed Anno Dom. 1674. To the Reader Reader I fairly salute thee if Courteous if not whoever thou art that takest up this small peice into thy hands and peradventure at first sight art somewhat concerned and offended at the very title-page thereof I would advise thee by all means to forbear railing against it railings and invectives being no powerful charms but rather weak and contemptible means to convince the reasons of men until thou hast diligently and throughly laying aside all prejudice perused and examined the same And that not then neither unless thou hast a mind to betray at once too much of thy humane frailty and imbecillity without thou art able to appear upon the stage and expose to publick view more solid and substantial arguments than are herein contained in confutation thereof This I thought requisite to advertise thee by reason I do already foresee an approaching storm upon this very accompt But yet if thou hast a mind and art willing to enter the lists I will assure thee for thy incouragement therein thou shalt find so Fair so Noble so generous a Combatant that if thy arguments are conclusive he shall be as willing and ready to make an ingenuous and publick recantation of his present mistakes Farewell TO THE Right Honourable and to the Right Worshipful Committee for Gresham Affairs My Lord Maior and you the worthy Knights and Gentlemen Members of the grand Committee HAving for several years last past been very conversant and held a good correspondence with the inhabitants many of them being my worthy and much respected friends and intimate acquaintance of your Royal Exchange I am able to say this of them by experience that I do verily believe there is no particular number of people whatsoever take them number for number within the walls of your City of London and Suburbs thereof more especially considering there being so many of the same trade as do live more peaceably and lovingly together than these do A notable instance hereof as a confirmation of what I have here asserted may plainly appear by their loving and neighbourly meeting together every 17th day of November yearly to celebrate and sollemnize the ever blessed memory of Queen Elizabeth's Coronation whom as our Ancestours have declared unto us gave the first name and appellation unto your Royal Exchange At which time also they have their Chaplin pro tempore that so they may be excited and stirred up to works of Charity unto their decayed Members and for the more Grace Gravity and Sobriety of their present sollemnity And the front of their Steward 's printed Tickets for their Annual invitation doth usually run after this manner Viz. For the Continuance of Amity and Vnity and our ancient Society you are hereby desired c. But so it is May it please your good Lordship and Worships that sometime before and since the late dreadful fire there have been upon several pretences such animosities feuds and contentions risen amongst them very few comparatively the more is the Pity being of that most heroick and noble Spirit and temper as to mind the publick good and concernment of the said place before their own private and particular self interest so that by means thereof it hath doubtless very much hindred and obstructed the present flourishing estate of your Royal Exchange as by the sequel of this memorial the which by the instance and request of some particular Friends is now exposed to publick view will more fully and plainly appear The Premises considered and as a member of the City of London having a very great kindness vallue and respect for your Royal Exchange and in particular for several of my good Friends and Acquaintance within the said Place I was much affected therewith and thereupon of late have made it my business somewhat to enquire into the true state of Affairs and truly before my strict enquiry by reason of the perpetual clamors and fair pretences of every Party I found it was a very hard matter rightly to understand them as to their said Animosities before mentioned And herein it was many times a pleasant divertisement to hear these contesting parties so much at variance and contention one with another when I observed that interest particular self interest with most of them especially among the grandees lay still at the bottom Yet not suffering my self to be biassed although I did many times love to take the weakest part being my natural constitution to vindicate the oppressed innocent nor to be born down with the clamours and railings but with the reasons of Men. I got this fair advantage thereby as I am perswaded in some good measure to inform both my self and you of the right of the case And upon the whole matter I do find that their said animosities are never likely to be reconciled and so consequently your Royal Exchange never likely to be in a flourishing condition untill you who are the worthy Members of the grand Committee shall put your helping hands to the Plough shall please by the interposition of your power and authority to accomplish the same Wherefore that so happy and so desirable an effect for as the Schoolmen say sublata causa tollitur effectus as the flourishing condition of your Royal Exchange may in your dayes that is during your Sessions as members of this Honourable Court be compleately and effectually accomplished The Authour thought it would be an acceptable service to the Major part of those who are concerned upon your Royal Exchange the antient Leasees only excepted to present you with a memorial wherein all your Tenants cases should be fairly and truly stated the which in all the submissive and respective terms imaginable he doth here most humbly present unto your Lordship and Worships most grave and prudent considerations This being premised by way of introduction I am now to give a particular account of all these contesting Parties before mentioned and herein I shall not neither for Fear nor Favour mince the matter before you whereby to conceal any thing as material to my present purpose or requisite and necessary for your information so that all things appearing so fair naked and open and driving
opposition so furiously one against another one of them rounded his Companion in the eare but it must be a very great secret and under the Rose also and as we usually say in vino veritas viz. That they might set their hearts at rest and be quiet for the Committee had faithfully promised them that they would make no alterations whereupon they were so dissatisfied and discontented that they say they have great cause to take it unkindly from the Court this their unkind and unexpected dealings with them and that they did then resolve never to trouble the Court more upon that accompt or upon any other accompt whatsoever And these very men have as little reason to complain for want of a trade as any persons in the Exchange whatsoever only they thought that by the turning of the Stairs on the Northside some water might have run by their Mills which made them so eager and furious in opposition thereunto whereas if their Shops stood in one of the quarters of Morefields next Bedlam gate in the way that they deal in they could not miss of Trade and plain dealing is best although the crafty Politician sayes that he that uses it will dye a begger And here farther they do say that when at any time they come into your Court they must observe that distance they must so place their words they must observe that order and method in their deportment for fear of displeasing some Member or other who will immediately repute them either saucy peremptory or too pragmatical that your eyes being so much upon them and many times they say they are catcht up before they are down they have such an awe and dread upon their Spirits for fear of giving offence so that many times they cannot say what they would and have to say upon this very accompt Whereas one would think in reason that Landlords should be as free to permit their Tenants to speak to them in all cases whatsoever paying the due respects which they owe unto the quality of their persons and to the place where they are assembled in Court as they are free to receive their rents from their said Tenants And although sometimes it may fall out that a man may take a bargain of his Landlord as that his House his Land or Shop may be very well worth and better than the Money that he pays for the same yet your present Tenants do say and I am very apt to believe them therein that their Money is far better at present nay double the value as I shall make it appear hereafter by undeniable reasons than any of yours said Shops So that upon the whole matter I dare engage in the behalf of all your outward Pawn Tenants here and there one only excepted which do drive very considerable Trades that in regard of those most unavoidable circumstances and inconveniencies which do alwaies attend the said place many whereof are hinted in the Sub-Tenants case if any of them could get else where but 100 pounds per Annum a peice towards the present ma intenance of themselves and Families they would then straightway bid adieu to all their concerns within your Royal Exchange And this if seriously weighed and considered is a miserable case that a man must be constrained to give his constant attendance in the said place and yet in regard of the said inconveniencies shall not be able to get 100 pounds per annum for his present maintenance and yet when it is got although out of the fire too because the place at present is more like Birchin lane than a Royal Exchange the one moity thereof must go towards the payment of his Landlords for his house and Shop And if this be their present case and if this were the late proceedings of the Court against them alas poor men what shall I say Where will they center at last in hopes of releif and when will the time come wherein they may truly say that their halcion daies are approaching and that they may lift up their Heads for their redemption draweth nigh And now a little to plead their cause upon the precedent circumstances As to matter of Alterations all men in the world will allow this to be reason viz. That you should endeavour to make both your Pawns as Equal as possibly you can for the general Accommodation of the whole inasmuch as all are equally and alike concerned as to matter of Rents or else that you should make such a proportionable Abatement and Allowance according to the real and apparent difference of the said place But for some men to perswade you That in making any convenient Alterations such as Turning the Stairs and taking down the Posts on the North-side and making the East and West-side into Large Shops and the like would destroy and impair your Inward Pawn-Rents which it seems was their grand Objection and the Committee did swallow it without chewing is such a Wind-mill and a Chimaera as I could easily make it appear onely self-interest men will put on a good face upon any thing whatsoever though never so incongruous and inconsistent with Humane Reason and as we proverbially say Audaces Fortuna juvat cùm in terga removetur Modestia That I must here most earnestly beseech your good Lordship and Worships that you would not henceforward suffer your selves by any prevailing Party or pretence whatsoever to be born down with the Clamours and Railings but with the Reasons of Men For if you should make at this day what Alterations you please without the consent and approbation of the Ancient and Modern Leasees for they were both Modern which came then before you or being frighted with their Bug-bears or allured with their Charms as to the danger that may ensue thereby yet it is Ten thousand pounds to a Nut-shell but the present Inhabitants and Sub-tenants of the said inward Pawns wherein there is at present above Three-score of your said Shops let upon the Wrack may be brought over and perswaded by very good words to accept of your Leases when they are expired at your present Rents if in case hereafter it doth appear that you cannot possibly afford them at a cheaper Rate And moreover some of them do likewise say That the Walks of your Royal Exchange are so extream and pitifull Narrow so that both the Exchanges at the other end of the Town and many times their Customers by way of Emulation for their respects and value they have for those Exchanges take notice thereof do far surpass and outvie them upon that very Account And again some do say which although it be a jocular and a pleasant Reason yet there may be much of truth therein viz. That by reason the Stairs of your Royal Exchange are built so high they have of late lost most of their Tissical Consumptive and short-winded Customers within the City of London and Suburbs thereof the which being of so vast an extent and a place so Populous may