The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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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.

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