Lombard Street

Lombard Street

West from Gracechurch Street, at No. 23, to Mansion House (P.O. Directory). In Langbourn, Bridge Within and Walbrook Wards.

Earliest mention: "Lumbardstret," 1319 (Cal. L. Bk. E. p. 96).

The Lansdowne MS. quoted below may follow the spelling of the 12th Century, which would make the earliest mention of the name 1108–18.

Referred to elsewhere as: "Langburnestrate," 14 Ed. I. (Ct. H.W. I. 74). "Langebournestrete," 5 Ed. II. (Cal. L. Bk. D. p. 249). "Longbord strete," 14th cent. (Lansd. MS. 448, F. 8). "in vico Lumbardorum," 6 Rich. II. (Harl. Ch. 56, F. 18).

Whether the street actually gave its name to Langbourn Ward or not, it is certain that both the names are traceable to a common origin, and that they are derived from the Lombards, a Germanic race originally settled in the district of the Lower Elbe, who extended their borders from time to time and even penetrated as far south as Northern Italy.

The early forms of the name were: "Langobardi," "Longobardus," "Lombardo," and the name has been variously described as compounded of "longus" and "bardus" = long beard; "Lange Borde" = a long fertile plain beside a river, the word "borde" being used in this sense in the Lower Elbe district. "Longa parta" or "barta" = "long battle-axe."

In the 12th century the ward of Langbourn is called "Ward of Langebord," and the names "Langebord" and "Longebrod" occur more than once in early records in the description of property in this neighbourhood.

These Langobards or Lombards early distinguished themselves as merchants and traders, and came over to England in considerable numbers, settling in London and elsewhere not later than the 12th century and carrying on a thriving business as bankers and moneylenders.

Many of them, as for instance the Society of the Bardi (q.v.), had their houses in and around the present Lombard Street, and in these circumstances it is not surprising that the street and district in which so many of them resided and carried on their business should have been named after them.

In the course of digging for a sewer in 1786 a Roman pavement was found under Nos. 82–85, near Sherbourn Lane, 12 ft. from the surface, measuring 20 ft. from east to west, and a pavement of small rough stones at a depth of 9 ft. A Roman wall was also found near the pavement eastward, 10 ft. high and 18 ft. long, the top of the wall being 10 ft. below the surface of the street (Arch. VIII. 118, XXXIX. 492). Pavements were also found under Nos. 72 and 82 in 1786, and another Roman wall near the Post Office, 14 ft. below the surface (ib. VIII. 127) and under other houses in the street.

The soil under Lombard Street seems to consist of four strata: Uppermost, 13 ft. 6 in. of made ground; second layer, 2 ft. of brick, apparently ruins; third layer, 3 in. of wood ashes, having the appearance of the remains of a town built of wood and destroyed by fire; below is the Roman pavement at a depth of 13 ft. 6 in. (ib. XXXVI. 206, VIII. 132. R. Smith, 59).

Lombard street, Mr. Stow says, it was so called before Edw. II's time, from Florence, and other Foreign Merchants meeting there, before the Exchange was Built, others think it was called so from the Bankers that liv'd there; it is a very considerable str. of spacious Buildings, betn Stocks Market Wly, and Graschurch str. Ely, L. 320 Yds, and from P C. near E. 730 Yds.

Lombard Street. It is throughout graced with good and lofty Buildings, amongst which are many that surpass those in other Streets, and generally is inhabited by Goldsmiths, Bankers, Mercers, and other eminent Tradesmen.

Lombard street, On the back of Cornhill, extends from the mansion house of the Lord Mayor, to Gracechurch street. Lombard street was anciently, as well as at present, inhabited by bankers, the first of whom were Italians chiefly from Lombardy, whence the word Lombards became anciently applied to all bankers, and this street retained the name of Lombards or Bankers street. Stow.

Lombard-Street, Gracechurch-St.—at 24, the fourth on the L. from London-bridge, it extends to the Mansion-house.

Lombard, or Lomber-St.—is in Gracechurch-street, the fourth turning on the left hand going from London-bridge. It was anciently, as well as at present, principally inhabited by bankers, the first of whom were Italians, chiefly from Lombard, whence the word Lombards became in those days applied to all bankers, therefore, this is Lombard, or Banker's-street.

Lombard Street, a street principally inhabited by bankers, extending from the Mansion House to Gracechurch Street. [See Nicholas Lane.]

Lombard Street, so called of the Longobards, and other merchants, strangers of divers nations, assembling there twice every day, of what original or continuance I have not read of record, more than that Edward II., in the 12th of his reign, confirmed a messuage, sometime belonging to Robert Turke, abutting on Lombard Street toward the south, and toward Cornhill on the north, for the merchants of Florence, which proveth that street to have had the name of Lombard Street before the reign of Edward II. The meeting of which merchants and others there continued until the 22d of December, in the year 1568; on the which day the said merchants began to make their meetings at the Burse, a place then new built for that purpose in the ward of Cornhill, and since by her Majisty, Queen Elizabeth, named the Royal Exchange.—Stow p. 76.

The name of Lumbarde Stret occurs in the City books in 1382, and in 1416 the "searchers of wines" report the finding of a "pipe of [unsound] wine in the dwelling-house of William Culver in Lumbard Strete."¹ Many of the merchants who, in the middle of the 13th century, fled from the cities of Italy to escape the strifes of Guelphs and Ghibellines, and the ravages of Frederick II., took refuge in London. The customs of the City and jealousy of foreigners and interlopers prevented them from taking their place as ordinary traders; but their wealth, their readiness to negotiate loans, and business ability, procured them access to the throne and influence at Court, and they obtained a grant of residence in Langbourne Ward, like that already possessed by the Hanse merchants. The confirmation of a grant made by Edward II. in 1318 shows that the street in which they dwelt had for some time been known as Lombard Street.² They were goldsmiths, and dealers in money, jewels and other valuables; were our earliest bankers and insurers of shipping; and acted as the agents of great foreign merchants and princes. During the 13th and 14th centuries they supplied many loans to the English sovereigns, and in return received protection and privileges;³ but by the citizens generally they were denounced as regrators and usurers. This was at a time when all interest on loans was unlawful and regarded as unchristian. The injunctions against usury were frequent and peremptory, as they were also against "exchanges of money," in which the Lombard merchants seem to have been largely if not chiefly concerned. The Lombards are said to have some privileges, but the royal writs as well as the City ordinances are alike emphatic in directing strict inquiry to be made and justice done whether the offenders be "Lombards, French, English, or of any other nation or condition whatsoever ... without showing remissness or favour in such case in behalf of any person whatsoever."⁴ In spite of laws and local jealousies the Lombards flourished, and in the last half of the 15th century are said to have had a large proportion of the foreign trade of this country in their hands. As the leading foreign traders, bill brokers, bankers, and marine insurers, their locality became naturally, in the absence of a bourse, the meeting-place of the great body of merchants, and as late as 1534, when "the king [Henry VIII] sent his Letters to the City for the making of a new Bourse at Leaden Hall," it was decided that it would not be advisable to remove their meetings from Lombard Street,⁵ even though, as it was, "merchants must be contented to stand and walk in the rain, more like pedlars than merchants." The supremacy of the Lombard merchants had, however, by this time pretty well passed away. Their decline was rapid; Gresham was ready to show a "device to take up all the money in Lombard Street;" the merchants meeting place was removed to the new Royal Exchange, and the last Lombard merchant quitted the country before the reign of Elizabeth was ended.

Lombard Street was destroyed in the Great Fire. It was quickly rebuilt, and Strype, 1720, describes it as "throughout graced with good and lofty buildings, among which are many that surpass those in other streets, and generally it is inhabited by goldsmiths, bankers, merchants, and other eminent tradesmen."⁶ Jane Shore's husband was a goldsmith in this street; so at least the old ballad, printed in Percy's Reliques would lead us to believe. No. 68, now Messrs. Martin and Co. (with Messrs. Childs, the oldest of London bankers), occupies the site of the house of business of Sir Thomas Gresham, founder of the Royal Exchange. When Pennant wrote, the Messrs. Martin still possessed the original grasshopper that distinguished his house,⁷ "How the Exchange passeth in Lombard Street" is a phrase of frequent occurrence in Sir Thomas Gresham's early letters. No. 67, now in the occupation of Messrs. Glyn, Mills, and Co. (bankers), formerly belonged to the Goldsmiths' Company, to whom it was left by Sir Martin Bowes, an eminent goldsmith in the reign of Queen Elizabeth. The Post Office and the Guardian Assurance Office occupy the site of the dwelling of Sir Robert Vyner, "being a very large and curious building, with good rooms" (Strype). Sir Robert was banker to Charles II. and greatly assisted him in his monetary difficulties. It is of Vyner the story is told that the king honoured his mayoralty (1674–1675) by dining with him on one occasion, when as the king was about to leave the mayor so earnestly entreated him to "stay and take the t'other bottle," that he consented, and slipping his arm through that of the City monarch, the pair of kings reeled back to the table singing together—

A good store of claret supplies every thing,
For a man that is drunk is as great as a king.

Close by was a tavern, the Cardinal's Cap, which before the Fire was of great repute; references to it are frequent in the Northumberland Expenses Book. It was bequeathed, with a tenement annexed, by Simon Eyre, mayor, 1445–1446, towards the maintenance of a brotherhood of our Lady in the adjacent church of St Mary Woolnoth. The Salutation was another inn of note. Thomas Guy, the founder of Guy's Hospital, kept a bookseller's shop at the angle formed by Cornhill and Lombard Street, where is now the office of the Liverpool, London, and Globe Insurance Company, and where at one time stood Bish's "Lucky Lottery Office." The father of Alexander Pope was a linen-draper in Lombard Street; and here, in 1688, his celebrated son was born. Opposite the church of St. Edmund the Martyr was a narrow court, leading to a Quakers' meeting-house, where Penn and Fox frequently preached.

Hostess. He [Falstaff] comes continually to Pie Corner (saving your manhoods) to buy a saddle; and he's indited to dinner to the lubbar's head in Lumbert Street, to Master Smooth's the silkman.—Shakespeare, Second Part of Henry IV., Act ii. Sc. I.

The presence of a clergyman in this place of traffic seems to have been considered as hardly becoming.

Doctor Nowell. Good day to Sir Thomas Ramsie!
Ramsie. Master Deane of Paul's, so much to you,
'Tis strange to see you here in Lumber Street,
This place of traffique, whereon merchants meet.
Heywood's If You know not Me, etc., 2d part, p. 82.

King. Soft, here I must turn;
Here's Lombard Street, and here's the Pelican;
And there's the Phoenix in the Pelican's nest.
Heywood, Edward IV.,, 4to, 1600.

Observe.—Church of St, Mary Woolnoth at the opening from the Mansion House; church of Allhallows, Lombard Street, next No. 49; church of St. Edmund, next No. 58. No. 10, the Branch Post Office, was erected on the site of Sir Robert Vyner's house, which was occupied subsequently by the Mail Coach Office. Among the more noticeable recent buildings which have gone far to transform the somewhat dingy aspect of Lombard Street are, on the south side, Messrs. Robarts and Lubbock's bank, No. 15, a spacious and solid stone structure, by Mr. P.C. Hardwick, 1864. On the site of this house Lloyd's Coffee-house formerly stood [see Lloyd's Subscription Rooms]. Previously Pontack's tavern was here. [See Pontack's.] No. 19, Phoenix Fire Office; the London and County Bank, No. 21, of the Tuscan order, built in 1860–1861 of the stones of old Westminster Bridge, by Mr. C. Parnell; No. 28, the Royal Insurance Office, Renaissance, 1857, by Mr. J. Belcher; No. 39, City Office Company's buildings, 1866–1867 (Messrs. Francis, architects). On the north side the principal buildings are the large and massive bank of Messrs. Barclay, Bevan, and Co., No. 54, erected in 1864 from the designs of Mr. P.C. Hardwick. No. 70, the Pelican Life Insurance, an elegant front designed about 1756 by Sir Robert Taylor for Sir Charles Asgill; No. 72, Lloyd's Bank, rebuilt 1888. Mr. F.G. Hilton Price has written a valuable work on the Signs of Old Lombard Street (Field and Tuer).

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¹ Riley p. 645.
² Strype, vol. ii p. 151.
³ A.E. Bond in Archæologia vol. xxviii; Noorthouck, p. 87.
⁴ Liber Albus; Riley, Memorials; Mailand.
⁵ Strype, B. ii. p. 152.
⁶ Ibid., B. ii. p. 162.
⁷ The grasshopper, in 1677, was the sign of Charles Duncombe and Richard Kent, goldsmiths in Lombard Street. This Charles Duncombe, the ancestor of the Earl of Feversham, was the City knight who purchased Helmsley in Yorkshire, now Duncombe Park, of the second and last Duke of Buckingham of the Villiers family.