Chapter 12

Carolo II. Cæsari Britannico,Patriæ Patri,Regum Optimo, Clementissimo, Augustissimo,Generis Humani Deliciis,Utriusque Fortunæ Victori,Pacis Europæ Arbitro,Marium Domino ac Vindici,Societas Mercatorum Adventur. Angliæ,Quæ per CCCC jam prope AnnosRegia benignitate floret,Fidei intemeratæ & Gratitudinis æternæ,Hoc TestimoniumVenerabunda posuit,Anno Salutis Humanæ M. DC. LXXXIV.

Carolo II. Cæsari Britannico,

Patriæ Patri,

Regum Optimo, Clementissimo, Augustissimo,

Generis Humani Deliciis,

Utriusque Fortunæ Victori,

Pacis Europæ Arbitro,

Marium Domino ac Vindici,

Societas Mercatorum Adventur. Angliæ,

Quæ per CCCC jam prope Annos

Regia benignitate floret,

Fidei intemeratæ & Gratitudinis æternæ,

Hoc Testimonium

Venerabunda posuit,

Anno Salutis Humanæ M. DC. LXXXIV.

On the west side of this pedestal, is cut in relievo, a Cupid resting his right hand on a shield, containing the arms of France and England quartered, and holding in his left a rose.

On the north side are the arms of Ireland on a shield, supported by a Cupid.

On the south side is the following inscription on the base of the pedestal:

‘This statue was repaired and beautified by the company of Merchant Adventurers of England,anno1730; John Hanbury, Esq; Governor.’

On the east side are the arms of Scotland, with a Cupid holding a thistle. All done in relievo.

In the area on the inside of the Royal Exchange, merchants meet every day at twelve at noon, and a prodigious concourse of those of all nations continue there till two, in order to transact business; butsoon after that hour the gates are shut up, and not opened again till four. For the readier dispatch of business, and that every particular merchant may be easily found, they are disposed in separated classes, each of which have their particular station, called their walk, as may be seen at one view by the following plan, by attending to which any merchant may easily be found.

North.Threadneedle Street.East Country WalkHamburgh WalkIrish WalkScotch WalkDutch & JewellersSilkmans WalkNorway WalkClothiers WalkSalters WalkWalkGrocers & Druggists WalkTurkey WalkBrokers of Stock & WalkWest.Castle Alley.Italian WalkEast.Sweetings Alley.Canary WalkEast Indies WalkBarbadoes WalkFrench WalkPortugalJamaica WalkArmenianVirginia WalkSpanish WalkJews WalkCornhill.South.

Front of the Royal Exchange.S. Wale delin.J. Green sc. Oxon.

The Royal Exchange, without critical examination, has something grand in it, and the entrance would certainly appear to more advantage if it were not incumbered with a parcel of little shops. The arcade or walks within the quadrangle have something noble, but the upper part is in a very bad taste. The statue of King Charles II. in the middle of the area is a good one. The other statues in the several niches have been lately new painted and gilt in parts. The painting is no doubt very necessary for their preservation, but it were to be wished the gilding of them had been omitted, as it must give foreigners of judgment (and such sometimes frequent this place) a contemptible opinion of our taste. The two statues, one on each side the gate, of King Charles I. and II. are particularly good. The clock tower or steeple with Gothic windows is unpardonable, and the cornices at their angles are so broke, as to appear very disgustful to an architect.

Royal Exchange Assurance Office, for assuring houses and other buildings, goods, wares and merchandize from fire. This corporation was established by act of Parliament, at the same time with that of the London Assurance, when it was enacted, that such as should be admittedmembers of these corporations, should be each a distinct and separate body politic, for the assurance of goods, ships and merchandize at sea, or for lending money upon bottomry.

That no other society should insure ships, or lend money on bottomry for the future; though any private person might do it as usual.

And that each of these corporations, in consideration of the many benefits that might accrue to them by their charters, should pay the sum of 300,000l.into his Majesty’s Exchequer, for discharging the debts of the civil list.

These corporations however met with so little encouragement at first, that Maitland says, the crown was obliged to remit most part of the money.

By a second charter granted to this corporation, they are impowered not only to insure ships, but houses, goods and lives.Maitland.

This society therefore, by this last mentioned charter, assure all buildings, household furniture, wearing apparel by special agreement, and goods, wares, and merchandize, the property of the assured, except glass and china ware not in trade, and all manner of writings, books of accompts, notes, bills, bonds, tallies, readymoney, jewels, plate, pictures, gunpowder, hay, straw, and corn unthreshed, from loss or damage by fire, upon the following conditions.

I. All manner of stone and brick buildings, covered with slate, tile, or lead, wherein no hazardous trades are carried on, nor any hazardous goods deposited, are considered as Common Assurances, and are assured upon these terms: any sum above 100l.and not exceeding 1000l.at 2s.per cent. per annum; any sum above 1000l.and not exceeding 3000l.at 2s.6d.per cent. per annum.

II. To accommodate those who are desirous of being assured for a term of years, this corporation will assure on such buildings or goods, any sum not exceeding 1000l.at the rate of 12s.per cent.for seven years, and as far as 2000l.at the rate of 14s.per cent.without subjecting the assured to any calls or contributions to make good losses.

III. Assurances on buildings and goods, are deemed distinct and separate adventures; so that the premium on goods is not advanced by reason of any assurance on the building wherein the goods are kept, nor the premium on the building by reason of any assurance on the goods.

IV. Plaister or timber buildings covered with lead, tile, or slate, wherein nohazardous trades are carried on, nor any hazardous goods deposited; and goods or merchandize not hazardous in such buildings, are termed Hazardous Assurances, and insured upon the following terms: any sum above 100l.and not exceeding 1000l.at 3s.per cent. per annum: any sum above 1000l.and not exceeding 2000l.at 4s.per cent. per annum: and any sum above 2000l.and not exceeding 3000l.at 5s.per cent. per annum.

V. Hazardous trades, such as apothecaries, colourmen, bread and bisket bakers, ship and tallow chandlers, innholders and stable-keepers, carried on in brick or stone buildings, covered with slate, tile, or lead; and hazardous goods, such as hemp, flax, pitch, tar, tallow, and turpentine, deposited in such buildings, may be assured at the annual premiums, set down under the head of Hazardous Assurances, in the above article.

VI. Any of the above hazardous trades carried on, or hazardous goods deposited in timber or plaister buildings; earthen, glass, or china ware in trade, and thatched buildings, or goods therein, are termed Doubly Hazardous Assurances, and may be assured on the following premiums: any sum above 100l.and not exceeding 1000l.at 5s.per cent. per annum: andany sum above 1000l.and not exceeding 3000l.at 7s.6d.per cent. per annum.

VII. Assurances of mills, wearing apparel, and assurances to chemists, distillers, and sugar-bakers, or any other assurances more than ordinarily hazardous, by reason of the trade, nature of the goods, narrowness of the place, or other dangerous circumstances, may be made by special agreement.

VIII. Two dwelling houses, or any one dwelling house, and the out-houses thereunto belonging, or any one dwelling house, and goods therein, may be included in the sum of 100l.But when several buildings, or buildings and goods are assured in the same policy, the sum assured on each is to be particularly mentioned.

IX. To prevent frauds, if any buildings or goods assured by this corporation, are, or shall be assured with any other corporation or society, the policy granted by this corporation is to be null and void, unless such other assurance is allowed by endorsement on the policy.

X. Every person upon application to be assured with this company, is to deposite 8s.6d.for the policy and mark, which 8s.6d.is to be returned, if the assurance proposed is not agreed to. No policy is to be of any force, till the premium forone year is paid. And for all subsequent annual payments made at the office, the assured are to take receipts, stamped with the seal of the corporation, no other being allowed of.

XI. No policy is to be extended, or construed to extend to the assurance of any hazardous buildings or goods, unless they are expressly mentioned in the policy, and the respective premium for such assurances be paid for the same.

XII. No loss or damage by fire happening by any invasion, foreign enemy, or any military or usurped power whatsoever, is to be made good.

XIII. All persons assured by this corporation, are, upon any loss or damage by fire, forthwith to give notice thereof by letter or otherwise, to the Directors or Secretary, at their office in the Royal Exchange, London; and within fifteen days after such fire, deliver in as particular an account of their loss or damage, as the nature of the case will admit of, and make proof of the same, by the oath or affirmation of themselves, and their domestics, or servants, and by their books of accompts, or other proper vouchers, as shall be required; and also to procure a certificate under the hands of the Minister and Church-wardens, together with someother reputable inhabitants of the parish, not concerned in such loss, importing, that they are well acquainted with the character and circumstances of the sufferer or sufferers; and do know, or verily believe, that he, she, or they, have really and by misfortune, sustained by such fire, the loss and damage therein mentioned. And in case any difference shall arise between the corporation and the assured, touching any loss or damage, such difference shall be submitted to the judgment and determination of arbitrators indifferently chosen, whose award in writing shall be conclusive and binding to all parties. And when any loss or damage is settled and adjusted, the sufferer or sufferers are to receive immediate satisfaction for the same.

In adjusting losses on houses, no wainscot, painting, sculpture, or carved work, is to be valued at more than three shillingsperyard.

Any larger sum, and some of the goods excepted in the preamble, may be assured by special agreement.

For the timely assistance of such as are assured, this corporation has several engines and men, with proper instruments to extinguish fires, and also porters for removing goods, each of whom has a badge, upon which is the figure of the RoyalExchange, and the badges are all numbered; of which all persons are desired to take notice who intrust them with goods, or have any complaint to make. The same figure is fixed on buildings assured by this corporation.

The Royal Exchange Assurance office is under the management of a Governor, Sub-Governor, Deputy-Governor, and twenty-four Directors; besides whom there are a Treasurer, a Secretary, an Accomptant, and several Clerks.

Royal Mews.See the articleMews.

Royal Oakalley, 1. Barnaby street. 2. Ratcliff.

Royal Oakcourt, 1. Kent street, Southwark.* 2. Parker’s lane, Drury lane.* 3. Peak street, Swallow street.*

Royal Oakyard, 1. Barnaby street, Southwark.* 2. Hockley in the Hole.* 3. Whitecross street, Cripplegate.*

Royalrow, 1. Lambeth marsh. 2. Near Windmill hill.

Royal’scourt, Horselydown lane, Southwark.

Royal Society, in Crane court, Fleet street. This society, which took its rise from a private society of learned and ingenious men, was founded for the improvement of natural knowledge. The honourableRobert Boyle, Sir William Petty, Dr. Seth Ward, Dr. Wilkins, Dr. Wallis, Dr. Goddard, Dr. Willis, Dr. Bathurst, and Dr. Wren, together with Mr. Matthew Wren and Mr. Rook, frequently met in the apartments of Dr. Wilkins, in Wadham College, at Oxford, to discourse on philosophical subjects; and there the learned productions of these gentlemen, not only eminently distinguished that society at home, but also rendered it highly revered by theliteratiabroad.

The meetings of theseliterati, which began about the year 1650, continued at Oxford till 1658, when the members being called to different parts of the kingdom, on account of their respective functions; and the majority coming to this city, they constantly attended the astronomical and geometrical lectures at Gresham college, where, being joined by several persons of the greatest learning and distinction, they continued to meet there once or twice a week, till the death of Oliver Cromwell: when anarchy succeeding, they were obliged to quit their place of meeting, on account of its being converted into military quarters for the reception of soldiers.

However, the storm being soon after allayed by the restoration of KingCharles II. the society began to resume their meetings, and for the more effectually carrying them on, entered into an obligation to pay each one shilling a week, towards the defraying of occasional charges.

From these small beginnings, this society soon arose to be one of the most celebrated in all Europe: for their design being favoured by some ingenious men who had followed the King in his exile, his Majesty granted them a charter, dated the 15th of July 1662, and then a second charter, dated the 22d of April 1663, whereby they were denominated,The Royal Society, and made a corporation, to consist of a President, Council, and Fellows, for promoting natural knowledge and useful arts, by experiments; in this charter his Majesty declared himself their founder and patron, giving them power to make laws for the government of themselves; to purchase lands and houses; to have a common seal, and a coat of arms.

No sooner was this Royal Society thus incorporated by King Charles II. than that Prince made them a present of a fine silver mace gilt, to be carried before the President; and as a farther mark of favour, their royal patron, by his letters patent of the 8th of April 1667, gave them Chelseacollege with its appurtenances, and twenty-six or twenty-seven acres of land surrounding it. But afterwards the society neglecting to convert a part of it into a physic garden, as was intended, and the King being resolved to erect an hospital for old and maimed soldiers, thought no place more proper for such a design than this college; he therefore purchased it again of them for a considerable sum.

A little before the society received these letters patent from his Majesty, the honourable Henry Howard, afterwards Duke of Norfolk, made them a present of a very valuable library, on the 2d of January 1666.

This collection was part of the royal library belonging to the Kings of Hungary, originally kept at the city of Buda. Upon the decease of Matthias Corvinus, the last King of the Hungarian race, it was disposed of, and about two thirds of the books were bought by the Emperor, and are now in the imperial library at Vienna: the remaining part coming to Bilibaldus Perkeymherus of Nuremberg, it was purchased of him by the Earl of Arundel, on his return from his embassy to the imperial court.

This fine collection consists of 3287 printed books in most languages and faculties;chiefly the first editions soon after the invention of printing; and a valuable collection of manuscripts in Hebrew, Greek, Latin, and Turkish, amounting to 554 volumes, which, together with the former, are thought to be of such value as not to be parallelled, for the smallness of their number.

The noble benefactor, at the time of his donation, desired that the inscription of,Ex dono Henrici Howard Norfolkciensis, might be put in each book: and that in case the society should happen to fail, the library should revert to his family. This the society not only readily complied with, but some years after caused the following inscription to be set up in the library:

Bibliotheca Norfolciana.

Excellentissimus Princeps Henricus Howard,Angliæ, Comes Arundeliæ, Suriæ,Norfolciæ, & Norwici, &c. Heros,propter familiæ antiquitatem, animi dotes,corporis dignitatem, pene incomparabilis,bibliothecam hanc instructissimam(quæ hactenus Arundeliana appellabatur)Regiæ Societati dono dedit,& perpetuo sacram esse voluit.Huic,Pro eximia erga se liberalitate, SocietasRegia tabulam hanc, devotæMentis testem, fixit;Præside Josepho Williamson,Equite Aurato.A. D. M.DC.LXXIX.

Excellentissimus Princeps Henricus Howard,

Angliæ, Comes Arundeliæ, Suriæ,

Norfolciæ, & Norwici, &c. Heros,

propter familiæ antiquitatem, animi dotes,

corporis dignitatem, pene incomparabilis,

bibliothecam hanc instructissimam

(quæ hactenus Arundeliana appellabatur)

Regiæ Societati dono dedit,

& perpetuo sacram esse voluit.

Huic,

Pro eximia erga se liberalitate, Societas

Regia tabulam hanc, devotæ

Mentis testem, fixit;

Præside Josepho Williamson,

Equite Aurato.

A. D. M.DC.LXXIX.

Besides this Arundelian or Norfolk library, which takes up a large room, another curious and valuable collection was left the society in the year 1715, by their Secretary Francis Aston, Esq; which together with the numerous benefactions of the works of the learned members, in all faculties, but more especially in natural and experimental philosophy, amount to above 3600, and are placed in glass cases in another room.

The museum belonging to the society, was founded by Daniel Colwall, Esq; in the year 1677, who gave his excellent collection of natural and artificial curiosities, which compose the greatest part of the catalogue published in the year 1681, by Dr. Grew, under the title ofMuseum Regalis Societatis. But these curiosities, by the generous benefactions of other curious persons, are now increased to above six times the number of those mentioned in the catalogue.

Upon the society’s removal from Gresham college to their house in Crane court, Richard Waller, Esq; one of the Secretaries, erected in the year 1711, at his own expence, the repository in the garden for the reception of the above curiosities, which consist of the following species, viz. human, quadrupedes, birds, eggs, nests, fishes, insects, reptiles, woods, stalks and roots; fruits of all sorts; mosses, mushrooms, plants, spunges, &c. animal and vegetable bodies petrified; corals, and other marine productions; fossils, gems, stones, metals, antimony, mercury, and other metallic bodies, salts, sulphurs, oils, and earths; philosophical and mathematical instruments; Indian, American, and other weapons, with a variety of apparel, &c.

In short, by the above Royal and other benefactions, the admission money, and annual contributions of the members, this society was at length in so flourishing a condition, that they applied to his late Majesty King George I. for an additional privilege to purchase in mortmain 1000l.instead of 200l.per annum, which he was pleased to grant by his letters patent, in 1725. Among the Fellows of this society are his Majesty King George II. and many of the greatest Princes in Europe.

This learned body is governed by a President and Council, consisting of twenty-one Fellows, distinguished by their rank and learning.

The officers chosen from among the members, are, the President, who calls and dissolves the meetings, proposes the subjects of consultation, puts questions, calls for experiments, and admits the members that are from time to time received into the society.

The Treasurer, who receives and disburses all the money.

The two Secretaries, who read all letters and informations; reply to all addresses or letters from foreign parts, or at home; register all experiments and conclusions, and publish what is ordered by the society.

The Curators, who have the charge of making experiments, receive the directions of the society, and at another meeting bring all to the test.

Every person to be elected a Fellow of the Royal Society, must be propounded and recommended at a meeting of the society, by three or more members; who must then deliver to one of the Secretaries a paper signed by themselves with their own names, specifying the name, addition, profession, occupation, and chief qualifications;the inventions, discoveries, works, writings, or other productions of the candidate for election; as also notifying the usual place of his abode, and recommending him on their own personal knowledge. A fair copy of which paper, with the date of the day when delivered, shall be fixed up in the common meeting room of the society, at ten several ordinary meetings, before the said candidate shall be put to the ballot: but it shall be free for every one of his Majesty’s subjects, who is a Peer, or the son of a Peer, of Great Britain or Ireland, and for every one of his Majesty’s Privy Council of either of the said kingdoms, and for every foreign Prince or Ambassador, to be propounded by any single person, and to be put to the ballot for election on the same day, there being present a competent number for making elections. And at every such ballot, unless two thirds at least of the members present give their bills in favour of the candidate, he cannot be elected a Fellow of the Royal Society; nor can any candidate be balloted for, unless twenty-one members at the least be present.

After a candidate has been elected, he may at that, or the next meeting of the society, be introduced, and solemnly admittedby the President, after having previously subscribed the obligation, whereby he promises, “That he will endeavour to promote the good of the Royal Society of London, for the improvement of natural knowledge.”

When any one is admitted, he pays a fee of five guineas, and afterwards 13s.a quarter, as long as he continues a member, towards defraying the expences of the society; and for the payment thereof he gives a bond; but most of the members on their first admittance chuse to pay down twenty guineas, which discharges them from any future payments.

Any Fellow may however free himself from these obligations, by only writing to the President, that he desires to withdraw from the society.

When the President takes the chair, the rest of the Fellows take their seats, and those who are not of the society withdraw: except any Baron of England, Scotland, and Ireland, any person of a higher title, or any of his Majesty’s Privy Council of any of his three kingdoms, and any foreigner of eminent repute, may stay, with the allowance of the President, for that time; and upon leave obtained of the President and Fellows present, or the major part of them, anyother person may be permitted to stay for that time: but the name of every person thus permitted to stay, that of the person who moved for him, and the allowance, are to be entered in the journal book.

The business of the society in their ordinary meetings, is, to order, take account, consider and discourse of philosophical experiments and observations; to read, hear, and discourse upon letters, reports, and other papers, containing philosophical matters; as also to view and discourse upon the rarities of nature and art, and to consider what may be deduced from them, and how far they may be improved for use or discovery.

No experiment can be made at the charge of the society, but by order of the society or council. And in order to the propounding and making experiments for the society, the importance of such experiment is to be considered with respect to the discovery of any truth, or to the use and benefit of mankind.

The Philosophical Transactions are printed at the charge of the society, and the Clerk deliversgratisone of the copies to every Fellow of the Society who shall demand it, either in person, or by letter under the hand of such Fellow, within oneyear after the Clerk has begun to deliver such copies.

If any Fellow of the society shall contemptuously or contumaciously disobey the statutes or orders of the society; or shall by speaking, writing, or printing, publicly defame the society, or maliciously do any thing to the detriment thereof, he shall be ejected.

The meetings of the Royal Society are on Thursdays, at five o’clock in the afternoon.

The members of the Council are elected out of the Fellows, upon the feast of St. Andrew in the morning; when after the election they all dine together.

Eleven of the old council are chosen for the ensuing year; and ten are elected out of the other members. Then the President, Treasurer, and Secretary are elected out of these. But the same persons are usually rechosen into these offices.

Royalvineyard, St. James’s Park.

Rugrow, Cloth fair, Smithfield.

Rumford, a town in Essex, 12 miles from London, and 5 from Burntwood, is a very great thoroughfare, and is governed by a Bailiff and Wardens, who are by patent impowered to hold a weekly court for the trial of treasons, felonies, debts, &c. andto execute offenders. It has a market on Mondays and Tuesdays for hogs and calves, and on Wednesday for corn, all of which are chiefly bought up for the use of London.

Rummercourt, Charing Cross.

Run-horseyard, David street, Grosvenor square.*

Rupertstreet, 1. Coventry street. 2. Goodman’s fields.

Russelcourt, 1. Blue Anchor alley, Rosemary lane.† 2. Cleveland row, St. James’s.† 3. Drury lane.† 4. Ratcliff highway.†

Russel’s Millstairs, Rotherhith.†

Russelstreet, Covent Garden; so called from the Duke of Bedford, upon whose estate it is built.

Russia Company, a body of merchants incorporated by letters patent, granted by Queen Mary on the 6th of February 1555, by which they were not only impowered to carry on an exclusive trade to all parts of the Russian empire, but to all such countries as they should discover in those northern parts. In consequence of this charter, they soon after discovered the Cherry Islands, Greenland, Nova Zembla, Newfoundland, Davis’s Streights, and Hudson’s Bay; and their first Governorwas that celebrated mariner Sebastian Cabot.

In consideration of these valuable discoveries, their privileges were confirmed by Parliament; and in the year 1614 enlarged by King James I.

In the year 1742, the Russia company obtained leave of the present Czarina Elizabeth, to trade with Persia thro’ Russia, and between the years 1743 and 1749, Mr. Hanway observes, they imported raw silk to the amount of 93,375l.value in Persia: but Mr. Elton, one of the company’s agents, being employed by Kouli Khan, who then sat on the Persian throne, to build some ships of force on the Caspian sea, the Russians apprehended they should be disturbed by the Persians in their navigation over that sea, and therefore put an end to the traffic of the British Russia company through Russia to Persia.

This company exports cloth of all sorts, both dressed and dyed; kersies, baize, cottons, fustians, perpetuanoes, Norwich stuffs, lace, thread, lead, tin, pewter, allum, copper, and most other sorts of English commodities: and we import from thence, cordage, tar, tallow, potashes, cable yarn, bees wax, linen cloth, isinglass, hides of several sorts, both tanned and raw; hogs bristles, linseed,several sorts of rich furrs, train oil, flax, hemp, caviare, stock fish, cod fish, salmon, &c.

This company is under the management of a Governor, four Consuls, and twenty-four Assistants, annually chosen on the 1st of March, who keep their courts monthly, or as occasion requires, in a large room in the Old East India house in Leadenhall street: but considered as a company, their trade at present is not very considerable; it being carried on chiefly by private merchants, who are admitted to reap the profit of trading to Russia, on paying 5l.each.

Rutlandcourt, 1. Charterhouse square. 2. Glasshouse yard, Goswell street. 3. Near Puddle dock, Thames street.

Rycaut’scourt, Morgan’s lane.†

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