Change, Exchange and International Interchange: London and International Trade in the 16th Century

16th Century London experienced economic challenge and transformation as dramatic as anything the 20th century has seen. A profitable and expanding export trade in cloth with continental Europe was disrupted by diplomatic disputes and warfare; within England, debasement of the currency and population growth stimulated inflationary pressures. New economic and financial institutions were born in response to changed conditions and opportunities. Thomas Gresham was at the heart of these developments and influenced the outcome through his enterprises, including the foundation of the Royal Exchange as a symbol of the new role he expected London to play.