As an author, he published editions of four of our ancient English historians; Matthew of Westminster, Matthew Paris, Asser's Life of Alfred, and Walsingham's History from Edward I. to Henry V. with his account of Normandy. He translated likewise, in 1566, A Testimony of Antiquity, showing the ancient Faith of the Church of England touching the Sacrament of the Body and Blood of the Lord, here publicly preached and also received in the Saxon's time, about 1700 years ago;' from a Sermon, which had previously been translated out of Latin into Saxon (by Alfric, Abbot of St. Alban's, about A. D. 996.) and appointed to be delivered to the people at Easter, before they should receive the communion.* To these we may add his work De Antiquitate Britannica Ecclesiæ, &c. or the Lives of his predecessors the Archbishops of Canterbury,' in which he received the assistance of Joceline, one of his chaplains.†

nour, that he was the founder of the English society of Antiquaries.

*This piece was accompanied by two Letters' of Ælfric, affording additional proof that the doctrine of the real presence' was not then admitted by the church.

+ The best edition of this work was published by Dr. Samuel Drake, Lond. in 1729. Most of the copies of the first edition (1572) want the account of Parker's own Life, he having caused it to be suppressed while he lived; upon which account, Strype has inserted it in the Appendix to his Life of that Prelate.

535

SIR THOMAS GRESHAM,

MERCHANT AND CITIZEN OF LONDON.*

[1519-1579.]

THE revolutions in the commercial affairs of Eu rope characterise the age of Elizabeth almost as strikingly as those of religion, with which they were at this time intimately connected; and, perhaps, there is not to be found in the annals of any other nation a combination of events so effectively concurring, at almost the same instant, to fix the renown of the Sovereign, and to insure the prosperity of the state.

"From the first beginning of Elizabeth's reign, the English applied themselves to manufactures: the Flemings being persecuted by Philip II. King of Spain (who permitted his governor of the Low Countries, now the Austrian Netherlands, to exercise every act of cruelty for the extirpation of heresy) removed to London, bringing with them an increase of inhabitants, industry, and riches. This capital, which enjoyed the blessings of peace under Elizabeth, cul

* AUTHORITIES. Camden's Britannia, Edward VI.'s MS. Journal (Cotton Library), Rymer's Foedera, and Ward's Life of Gresham.

tivated likewise the liberal arts, the badges and the consequences of plenty. London was enlarged, civilised, and embellished; and, in a short time, one half of the little island of Great Britain was able to counterbalance the whole power of Spain. The English now appeared the second nation in the world in industry, as in liberty they were the first; and a private merchant in London was rich enough to build the Royal Exchange, and to found and endow a college for the education of the children of his fellowcitizens."*

Thomas Gresham was the descendent of an ancient family, which (according to Camden) took it's name from a town so called in Norfolk, and had already produced several eminent men in the earlier periods of British history. Nor was Sir Richard Gresham, the father of this gentleman, undistinguished. From his success in the business of a mercer, he had been enabled to purchase considerable estates, became sheriff of London in 1531, and received the honour of knighthood from Henry VIII., who made him his principal agent for the negociation of his fiscal concerns at Antwerp, during his wars with France. He, subsequently, discharged the office of LordMayor. But what rendered him still more memorable as a citizen, was his having obtained leave for private merchants to become bankers, and to negociate bills of exchange without a special licence. This privilege being first exercised by merchants residing in Lombard-street, it was there that he proposed to build an Exchange: but it was reserved for

Voltaire's Universal History."

his son Thomas to realise the project. He purchased, however, the chapel of St. Thomas of Acres, now Mercer's Chapel, for that Company.*

Sir Richard left two sons, of whom John, the eldest (an eminent mercer in the reign of Edward VI.) accompanied the Protector Somerset in his expedition to Scotland, and was knighted by him upon the field after his victory at Musselburgh in 1547. The younger, the subject of this memoir, was born at London in 1519, and was bound apprentice to a mercer when he was extremely young: but he certainly did not long continue with him, as we find him subsequently a student at Caius College under it's celebrated founder Dr. Caius, who in commendation of his proficiency stiled him Doctissimus Mercator, the very learned merchant.'The profits of trade however were at that time so great, and such large estates had been acquired by it in his own family, that he also engaged in it, and was made free of the Mercer's Company in 1543. He married about this time, it is supposed, the daughter of William Fernley of Suffolk, relict of William Reade, Esq. of Middlesex.

Sir William Dansell had succeeded Sir Richard Gresham, as the King's agent at Antwerp; but by his bad management, instead of supplying his Majesty with money, he involved him so deeply in debt,

* At this period, and long afterward, no person could belong to any Company, except that of the trade which he followed. Hence ensued an attachment and intimacy among the brethren, and valuable donations and legacies were bequeathed to the several guilds from their respective members: whereas at present one of the principal uses of such fraternities is destroyed, by the abolition of this limitation.

that the merchants of that city refused to make any farther advances. This greatly embarrassing the royal affairs at home, a letter of recall was despatched to Dansell, which he refused to obey. Mr. Gresham was now summoned by the Council, and requested to advise by what means his Majesty could best be enabled to discharge the debt (amounting to 260,0007.) or put it in such a train of liquidation, that his loans might proceed as usual. His suggestions upon this point must have been highly satisfactory; as without any solicitation on his part he was appointed agent, and removed with his family to Antwerp in 1551. Here, he quickly found himself involved in very uneasy circumstances; but his fertile genius enabled him to extricate himself with honour. The money, which had been borrowed by his predecessor for the King's use, not having been repaid at the stipulated times, he was under the necessity of soliciting an additional term of prolongation: but to this the lenders would only agree, on condition that his Majesty should purchase jewels, or other rich commodities, to a considerable amount.*

Mr. Gresham did not judge it compatible, either with his master's honour, or his own credit as his agent, to comply with these venal proposals; he there

* It deserves the reader's notice, that the principal commerce of Antwerp at this early period consisted in the importation of diamonds, pearls, and other precious stones, and of wool; together with the negotiation of loans of money, and exchanges. The persecution of the Duke of Alva drove the manufacturers, and the merchants trafficking in bulky commodities (as most liable to seizure and confiscation) from this ancient mart; but there still remained many of the jewel-merchants and the money-agents, whose descendents preserved that city from a total decline.