23rd January 2018
On this day in 1571, Queen Elizabeth I visited the Exchange in London. It was the first building of its kind in England – a specialist commercial centre that allowed for trading stocks, and had a variety of merchants selling their wares. It had been founded by Sir Thomas Gresham, who modelled it after the Bourse in Antwerp, the oldest financial exchange in the world.
While it had been completed several years earlier, Elizabeth’s visit marked the official opening of the Exchange. She viewed every aspect of the building and admired the goods on sale, and ended her visit by awarding it the title of the Royal Exchange, and giving it a licence to sell alcohol.
On the same day, Elizabeth also visited Gresham’s home, where she was treated to a banquet and a play. The day was a great success for Gresham and his wife. Elizabeth’s visit to the Royal Exchange resulted in it becoming a popular and fashionable place for merchants and shoppers.
But there is another aspect to this visit. Hidden away in the Gresham’s house was Mary Grey, the youngest of the Grey sisters. She had been under house arrest since 1565 for marrying without permission. Her husband, Thomas Keyes, had been imprisoned in the notorious Fleet prison. Mary had been with the Gresham’s since 1569, and it was an unhappy situation for all involved. Thomas and his wife Anne did not want Mary there, while Mary would have longed for her freedom and to see her husband again. For Mary to be locked in her room during Elizabeth’s visit was not that unusual. This was where she spent most of her time, reading.
Mary was Elizabeth’s heir, and despite the fact that Mary – as far as we know – showed no signs of wanting to claim the throne, Elizabeth still had to take this claim seriously. She feared releasing Mary. It wasn’t until 1573 that Mary was allowed to live where she wished. Sadly, Thomas Keyes had died in 1571, and she would never see him again.
Images: Royal Exchange, State 2, by Wenceslas Hollar (1607-1677), Wenceslas Hollar Digital Collection, via Wikimedia Commons. Queen Elizabeth I, by unknown artist, c.1575 – NPG 2082 – © National Portrait Gallery, London. Lady Mary Grey, attributed to Hans Eworth, 1571, via Wikimedia Commons.
