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60,000_l._ meant a saving of 2,400_l._ a year.

When he came back to England he brought with him a discovery which seems simple. It is, however, the most difficult thing in the world for people to understand: we are always discovering it, over and over again.

His discovery was this--it applies to every kind of business or enterprise--It is that union will effect what single effort is powerless to attempt. The City had for centuries understood this in matters of government: they were now to learn the same thing in matters of trade. The merchants of Antwerp had a central place where they could meet for purposes of union and combination. Those of London had none. As yet union had only been practised for the regulation of trade prices and work. True, the merchant adventurers existed, but the spirit of enterprise had as yet spread a very little way.

Gresham determined to present to his fellow citizens such a Bourse as the merchants of Antwerp had enjoyed for centuries. He built his Bourse; he gave it to the City: he gave it as a place of meeting for the merchants: he gave it for the advance of enterprise. The Queen opened it with great State, and called it the Royal Exchange. It stood exactly where the present Royal Exchange stands, but its entrance was on the south side, not the west. And no gift has ever been made to any city more noble, more farseeing, more wise, or productive of greater benefits.



45. TRADE.



PART III.

The merchants got their Exchange. What did they do in it? They did most wonderful things with it. Greater things were never done in any Exchange. For the first time they were enabled to act together: and it was the most favourable opportunity that ever happened to any trading community. The charters of the foreigners were abolished: the markets of Bruges were depressed in consequence of the civil wars already beginning: that city itself, with Antwerp and Ghent, was on the point of ruin. The way was open, and the spirit of enterprise was awakened. In ordinary times it would have been the love of gain alone that awakened this spirit. But these were not ordinary times. The people of Western Europe took a hundred years to discover that Columbus had doubled the world: that there was a new continent across the ocean. They began to send their ships across: nobody as yet knew the possibilities of that continent with its islands: the Spaniards had the first run, but the French and the English were beginning to claim their share. Then a way to India and the East had been found out: we were no longer going to be dependent on the Venetians for the products of Persia, India, the Moluccas, China. All those turbulent and restless spirits who could not settle down to peaceful crafts or the dull life of the desk, longed to be on board ship sailing Westward Ho. Fortune was waiting for them there: fortune with fighting, privation, endurance--perhaps death by fever or by battle: yet a glorious life. Or they might sail southwards and so round the Cape of Good Hope--called at first the Cape of Storms--and across the Indian Ocean to the port of Calicut, there to trade. There were dangers enough even on that voyage to tempt the most adventurous: Moorish pirates off the coast of Morocco: European pirates--English pirates--coming out of the rivers and ports of Western Africa: storms off the Cape: hurricanes in the Indian Ocean: the rocks and reefs of seas as yet unsurveyed: treachery of natives. Yet there were never wanting men in plenty to volunteer for these long and perilous voyages. At home, then, the spirit of enterprise, joined with the spirit of adventure, achieved mighty things. The merchant adventurers succeeding to some of the trade of the Hanseatic League, established 'courts,' i.e. branches at Antwerp, Hamburg, and Dordrecht: they had also courts at York, Hull, and Newcastle. Many other companies were founded. There was the Eastland Company or merchants of Ebbing. Their trade was with the Baltic. There was the 'Merchant Adventurers for the discovery of Lands, not before known to, or frequented by, the English.' This afterwards became the Russian Company. They sent out Sir Hugh Willoughby with three ships to find a North-East passage to China. He and all his men were frozen to death on the shores of Russian Lapland. The Company afterwards took to whaling. There was also the Turkey Company, which lasted to well into the present century. There was the Royal African Company, which has been revived. There were the Merchants of Spain: the Merchants of France: the Merchants of Virginia: the East India Company: the Hudson's Bay Company: the South Sea Company: the Guinea Company: the Canary Company. Some of these companies were founded later, but they are all sprung from the spirit of enterprise, first called into existence by Gresham when he built his Exchange and brought the merchants together.

By leaps and bounds the prosperity of the City increased, and has still continued to increase, for the three hundred years that have passed since Queen Elizabeth opened the Royal Exchange. Whether this prosperity will still further advance; whether forces, as yet unnoticed, will bring about the decay of London, no one can venture to prophecy. Antwerp may again become her rival: may perhaps surpass her; the port of Antwerp is rising yearly in importance: and that of Hamburg further north, has, like Liverpool, its miles of quays and wharves and its hundreds of vessels. But the trade of London is still far greater than that of any other port in the world, and for its three hundred years of prosperity we must thank, above all men, that wise merchant Sir Thomas Gresham.

He did more than give an Exchange to the City. He gave a college: he gave his own house in Broad Street for a college: he endowed it with professorships: he intended it to become for London what Christ Church was to Oxford, or Trinity to Cambridge. It has been converted into a place for the delivery of lectures, but there are signs that the City will once more have such a college as Gresham intended.



46. PLAYS AND PAGEANTS.



PART I.

There were no theatres in England, nor any Plays, before the reign of Queen Elizabeth. This is a statement which is true, but needs explanation. It is not the case that there was no acting. On the contrary, there has always been acting of some kind or other. There was acting at the fairs, where the Cheap Jack and the Quack had their tumbling boys and clowns to attract the crowd. There were always minstrels and tumblers, men and women who played, sang, danced, and tumbled in the hall for the amusement of the great people in the long winter evenings. Not including the wandering mummers, the Theatre was preceded by the Religious Drama, the Pageant, and the Masque.

The Religious Drama was usually performed in churches, but sometimes in market-places and in front of churches. They represented scenes from the Bible and acts of saints. In a time when the people could not read, such shows presented Sacred History in a most vivid form. No one could possibly forget any detail in the Passion of Our Lord who had once seen it performed in a Mystery, with the dresses complete, with appropriate words and action, and with music. In the year 1409 there was a play representing the Creation of the World performed at Clerkenwell. It lasted eight days, and was witnessed by a vast concourse of all ranks. Here were shown Paradise, our first parents, the admonition of the Creator, the Fall, and the expulsion. Such a sight was better than a hundred sermons for teaching the people.

The plays were not generally so long and so ambitious. They acted detached scenes: the two men of Emmaus meeting the Risen Lord: the Raising of Lazarus: the Birth of Christ: the Flood: the Fall of Lucifer: the Shepherds of Bethlehem: and other scenes. The Mystery or Sacred Play was the Sunday school of the middle ages. By those plays they learned the whole of Scripture History. The churches taught detached portions by the frescoes on the wall, the painted windows and the carvings: but the history in its sequence was taught by the Sacred Dramas.

We have very full accounts of one Miracle Play, that which was annually performed by the Guilds of the City of Chester. It was performed at Whitsuntide and lasted three days. The play began with the 'Fall of Lucifer' performed by the tanners: went on to the 'Creation,' by the drapers: then to the 'Flood,' and so on. Nine plays were performed on the first day; nine on the second; and seven on the third. Each Guild provided a scaffold on wheels. The scaffold was provided with a canopy which would represent the sky, or the roof of a house, or a tent, or a cave, as the play demanded: the performers were properly dressed for their parts: there was music, and in some cases there were songs. Under the scaffold was the room where the actors dressed and where the 'properties' were kept. Every play was performed in every principal street. When one was finished the scaffold was rolled to another station and the play was repeated. This method prevented crowding. The most sacred Persons were exhibited at these plays, and nothing was spared to make them realistic to the last degree. Sometimes devils were put upon the stage: flames issued from their mouths: they performed tricks of buffoonery: they dragged off sinners to their doom. Sometimes comic scenes were introduced, as in the play of the 'Flood,' where it was common to represent Noah's wife as a shrew who beats her husband and refuses to go into the Ark.

These plays were swept away by the Reformation. They had been productive for a long time of mischief rather than of instruction. The profanity of the comic scenes increased: and reverence was destroyed when in the same tableau which presented the most sacred of events appeared the most unbridled buffoons. Religious plays have never been allowed since the Reformation. Should they again be put upon the stage it must be under the safeguard of those who can be trusted to admit of no other consideration than the presentation in the most reverent manner of sacred subjects. There must be no thought of gain for those who manage, or those who act, such plays. Many scenes and events of the Bible would lend themselves wonderfully to dramatic rendering. But the choice of these must not be left to the lessee of a theatre: nor must the acting of such plays be permitted to those who live by making the people laugh.



47. PLAYS AND PAGEANTS.



PART II.

After the religious dramas, the Pageants gratified the desire for spectacle and show. Pageants were held on every grand occasion: to welcome the sovereign: to honour the new Lord Mayor: to celebrate a victory. Then they erected triumphal arches adorned with pasteboard castles, ships, houses, caves--all kinds of things. They either carried with them, as part of the procession, or they stationed at some point, the City Giants. London was not alone in having giants. York, Norwich, Chester, possessed city giants. In Belgium the city giant is still carried in procession in Antwerp, Douai, and other towns. The figure of the giant symbolised the strength and power of the city. After Agincourt Henry V. was welcomed at the south gate of London Bridge by two giants: his son, Henry VI., was also received by a giant seventeen years later. Two giants stood on London Bridge to welcome Philip

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