A.D. 1689 
—1776. 
he London 
Assurance 
ind Royal 
Exchange 
Assurance. 
as well as 
hy the cone 
sentration 
it Lloyd's 
Coffee 
House of 
under- 
O1LeT8. 
PARLIAMENTARY COLBERTISM 
Exchange Assurance Corporation were created. These 
Companies are still large and flourishing institutions; in 
their earlier days they had considerable difficulties, especi- 
ally through the loss of a fleet of Jamaica ships; the 
London Assurance was deeply involved, and its shares fell 
within a month from 160 to 60 and thence to 12%. The 
two undertakings had agreed to pay £300,000 into the 
Exchequer?, but subsequently, in 1721, half of the sum 
was remitted. The Act which the Companies obtained? 
gave them the exclusive right of carrying on this business 
on a joint stock, but did not interfere with the business of 
private individuals who were engaged in underwriting. 
In the early part of the eighteenth century the practice 
had. come into fashion of resorting to coffee-houses for all 
sorts of intercourse, whether social, political or commercial. 
Persons engaged in shipping appear to have used a coffee- 
1ouse kept by Mr Edward Lloyd, who was a very energetic 
nan, and published a newspaper chiefly devoted to forcign 
and commercial news in 16964 This did not last very long, 
however; but it was succeeded in 1726 by Lloyd's List®, 
which contained ship-news, together with the current rates 
of exchange, the prices of shares, and so forth. The coffee- 
house, though convenient, was the resort of some doubtful 
sharacters; and it was determined by the respectable brokers 
and underwriters, who frequented Lloyd's, to establish a new 
resort for themselves. They secured the property in Lloyd's 
List; and after various attempts to get satisfactory premises 
had failed, they obtained quarters in the Royal Exchange 
in 17748, The new Lloyd's Coffee-house, which was there 
established, contained a public room and also a subscribers’ 
room, and the committee enforced various regulations in 
LO2 
I M. Postlethwayt, Universal Dictionary of Trade, article on Actions, p. 15 (a). 
? Martin, Lloyd's, 99. 
3 6 Geo. I. c. 18. 
+ Martin, Lloyd's, 74. The following announcement which first appeared in 
No. 61 shows the natare of the publication and the aims of the proprietor :—* All 
Gentlemen, Merchants, or others, who are desirous to have this News in a whole 
Sheet of Paper (two leaves instead of one leaf), for to write their own private 
Concerns in, or other Intelligence for the Countrey, may be supplied with them, 
lone upon very good Paper. for a Penny a Sheet, at Lloyd's Coffee-House in 
Lombard Street.” 
5 Martin, Lloyd's, 107. 
' Th. 120. 145.