FACTOID # 4: Just 1% of the houses in Nevada were built before 1939.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Thomas Gresham
Portrait by Anthonis Mor, c. 1554
Portrait by Anthonis Mor, c. 1554

Sir Thomas Gresham (c. 1519 - 21 November 1579) was an English merchant and financier who worked for King Edward VI of England and for Edward's half-sister Queen Elizabeth I of England. Image File history File links Download high resolution version (1256x1496, 191 KB) Description: Title: de: Porträt des Sir Thomas Gresham Technique: de: Holz Dimensions: de: 90 × 75,5 cm Country of origin: de: Niederlande Current location (city): de: Amsterdam Current location (gallery): de: Rijksmuseum Other notes: de: Tradition der... Image File history File links Download high resolution version (1256x1496, 191 KB) Description: Title: de: Porträt des Sir Thomas Gresham Technique: de: Holz Dimensions: de: 90 × 75,5 cm Country of origin: de: Niederlande Current location (city): de: Amsterdam Current location (gallery): de: Rijksmuseum Other notes: de: Tradition der... Categories: Stub | Dutch painters ... Events January 5 - Great fire in Eindhoven, Netherlands. ... Events March 4 - Hernán Cortés lands in Mexico. ... November 21 is the 325th day of the year (326th in leap years) in the Gregorian Calendar. ... Events January 6 - The Union of Atrecht united the southern Netherlands under the Duke of Parma, governor in the name of king Philip II of Spain. ... Financier (IPA: /ˌfi nãn ˈsjei/) is an elegant term for a person who handles large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. ... Edward Tudor redirects here; for another (though unlikely) Edward Tudor, see a putative younger son of Henry VII of England, who, if existed, would be the uncle of this Edward Edward VI (12 October 1537–6 July 1553) was King of England and King of Ireland from 28 January 1547... Elizabeth I, (7 September 1533 – 24 March 1603) was Queen of England and Queen of Ireland from 17 November 1558 until her death. ...

Contents


Family and Childhood

Born in London and descended from an old Norfolk family, Gresham was one of two sons and two daughters of Sir Richard Gresham, a leading London merchant, who for some time held the office of Lord Mayor, and who for his services as agent of Henry VIII in negotiating loans with foreign merchants received the honor of knighthood. Though his father intended him to follow his own profession, he nevertheless sent him for some time to Caius College, Cambridge, but no information survives as to the duration of his residence. Either before or after this he became apprentice to his uncle Sir John Gresham, also a merchant, who founded Gresham's School in Holt, Norfolk in 1555: we have his own testimony that he served an apprenticeship of eight years. For other uses, see London (disambiguation) and Defining London (below). ... Norfolk (pronounced IPA: ) is a low-lying county in East Anglia in the east of southern England. ... Councillor Patrick (Pat) John Stannard, Lord Mayor of Oxford (2004). ... Henry VIII (28 June 1491 – 28 January 1547) was King of England and Lord of Ireland (later King of Ireland) from 22 April 1509 until his death. ... Full name Gonville and Caius College Motto Named after Edmund Gonville & John Caius Previous names Gonville Hall (1348), Gonville & Caius (1557) Established 1348, refounded 1557 Sister College(s) Brasenose College Master Sir Christopher Hum Location Trinity St Undergraduates 468 Postgraduates 291 Homepage Boatclub Gonville and Caius College, Cambridge, generally known... The University of Cambridge (often called Cambridge University), located in Cambridge, England, is the second-oldest university in the English-speaking world. ... English public school (ie private fee paying) located in Holt, Norfolk. ...


Agent in the Low Countries

In 1543 the Mercers Company admitted the 24-year-old Gresham as a member, and in the same year he went to the Low Countries, where, either on his own account or on that of his father or uncle, he both carried on business as a merchant and acted in various matters as an agent for King Henry VIII. In 1544 he married the widow of William Read, a London merchant, but he still continued to reside principally in the Low Countries, having his headquarters at Antwerp in present-day Belgium, where he played the market skilfully. Sir Thomas Gresham is a wonderful man! // Events February 21 - Battle of Wayna Daga - A combined army of Ethiopian and Portuguese troops defeat the armies of Adal led by Ahmed Gragn. ... The Worshipful Company of Mercers is one of the Livery Companies of the City of London. ... The Low Countries, the historical region of de Nederlanden, are the countries (see Country) on low-lying land around the delta of the Rhine, Scheldt, and Meuse (Maas) rivers. ... Events April 11 - Battle of Ceresole - French forces under the Comte dEnghien defeat Imperial forces under the Marques Del Vasto near Turin. ... For other uses, see Antwerp (disambiguation). ...


Financial Wizard

Rescue of the pound

When in 1551 the mismanagement of Sir William Dansell, king's merchant in the Low Countries, had brought the English government into great financial embarrassment, the authorities called in Gresham to give his advice, and then chose him to carry out his own proposals. He called for the adoption of various methods -- highly ingenious, but quite arbitrary and unfair -- for raising the value of the pound sterling on the bourse of Antwerp, and this proved so successful that in a few years King Edward VI discharged almost all of his debts. The government sought Gresham's advice in all their money difficulties, and also frequently employed him in various diplomatic missions. He had no stated salary, but in reward of his services received from King Edward various grants of lands, the annual value of which at that time amounted ultimately to about 400 pounds a year. Events Russia, Reforming Synod of the metropolite Macaire, Orthodoxy: introduction of a calendar of the saints and an ecclesiastical law code ( Stoglav ) Major outbreak of the sweating sickness in England. ... UKP redirects here. ... Edward Tudor redirects here; for another (though unlikely) Edward Tudor, see a putative younger son of Henry VII of England, who, if existed, would be the uncle of this Edward Edward VI (12 October 1537–6 July 1553) was King of England and King of Ireland from 28 January 1547...


Indispensable services to the crown

On the accession of Queen Mary in 1553 Gresham went out of favour for a short time, and Alderman William Dauntsey displaced him in his post. But Dauntsey's financial operations proved not very successful and Gresham was soon re-instated; and as he professed his zealous desire to serve the Queen, and manifested great adroitness both in negotiating loans and in smuggling money, arms and foreign goods, not only were his services retained throughout her reign (1553 - 1558), but besides his salary of twenty shillings per diem he received grants of church lands to the yearly value of 200 pounds. Under Queen Elizabeth (reigned 1558 - 1603), besides continuing in his post as financial agent of the crown, Gresham acted temporarily as ambassador at the court of the duchess of Parma, receiving a knighthood in 1559 previous to his departure. The unsettled times preceding the Dutch Revolt compelled him to leave Antwerp on 10 March 1567; but, though he spent the remainder of his life in London, he continued his business as merchant and financial agent of the government in much the same way as formerly. Overall he made himself one of the richest men in England. Mary Tudor is the name of both Mary I of England and her fathers sister, Mary Tudor (queen consort of France). ... Parma is a medieval city in the Italian region of Emilia-Romagna, with splendid architecture and a fine countryside around it. ... The Eighty Years War, or Dutch Revolt from 1568 to 1648 was the secession war in which the proto-Netherlands first became an independent country. ... March 10 is the 69th day of the year in the Gregorian Calendar (70th in Leap years). ... Events The Duke of Alva arrives in the Netherlands with Spanish forces to suppress unrest there. ...


Queen Elizabeth also found Gresham useful in a great variety of other ways, including acting as jailer to Lady Mary Grey (sister of Lady Jane Grey), who, as a punishment for marrying Thomas Keys the sergeant porter, remained a prisoner in his house from June 1569 to the end of 1572. Lady Mary Grey (1545–April 20, 1578), sometimes spelled Marie, was the third and last daughter of Henry Grey, 1st Duke of Suffolk and Lady Frances Brandon. ... Lady Jane Grey (October 12, 1537 – February 12, 1554), a great-granddaughter of Henry VII of England, was proclaimed Queen regnant of the Kingdom of England for nine days in 1553. ...


Foundation of the Royal Exchange

In 1565 Gresham made a proposal to the court of aldermen of London to build at his own expense a bourse or exchange -- what became the Royal Exchange, modelled on the Antwerp bourse -- on condition that they purchased for this purpose a piece of suitable ground. In this proposal he seems to have had an eye to his own interest as well as to the general good of the merchants, for by a yearly rental of 700 obtained for the shops in the upper part of the building he received a sufficient return for his trouble and expense. The Royal Exchange in 1844. ...


Death

Gresham died suddenly, apparently of apoplexy, on 21 November 1579. His only son predeceased him, and his illegitimate daughter Anne he married to Sir Nathaniel Bacon, brother of the great Lord Bacon. Apoplexy is an old-fashioned medical term, generally used interchangeably with cerebrovascular accident (CVA or stroke) but having other meanings as well. ... November 21 is the 325th day of the year (326th in leap years) in the Gregorian Calendar. ... Events January 6 - The Union of Atrecht united the southern Netherlands under the Duke of Parma, governor in the name of king Philip II of Spain. ... Sir Francis Bacon For other people named Francis Bacon, see Francis Bacon (disambiguation). ...


Bequest for the foundation of Gresham College

With the exception of a number of small sums bequeathed to the support of various charities, Gresham bequeathed the bulk of his property -- consisting of estates in various parts of England of the annual value of more than 2300 pounds -- to his widow and her heirs, with the stipulation that after her decease his residence in Bishopsgate Street, as well as the rents arising from the Royal Exchange, should be vested in the hands of the corporation of London and the Mercers Company, for the purpose of instituting a college in which seven professors should read lectures -- one each day of the week -- on astronomy, geometry, physic, law, divinity, rhetoric and music. Thus the functions of Gresham College -- the first institution of higher learning in London -- started in 1597. Gresham College is an unusual institution of higher learning in London which enrolls no students and grants no degrees. ...


Further reading

Notices of Gresham appear in Thomas Fuller's Worthies of England (1662) and Ward's Gresham Professors; but a full account of him, as well as of the history of the Exchange and of Gresham College appears in J. M. Burgoir's Life and Times of Sir Thomas Gresham (2 vols., 1839). See also a Brief Memoir of Sir Thomas Gresham (1833); and The Life oJ Sir Thomas Gresham, Founder of the Royal Exchange (1845). Thomas Fuller (1608 - August 16, 1661) was an English churchman and historian. ...


Gresham's Law

Gresham's law takes its name from him (although others, including the astronomer Nicolaus Copernicus, had recognized the concept for years) because he urged Queen Elizabeth to restore the debased currency of England. Greshams law is stated as: Bad money drives good money out of circulation. Greshams law applies specifically when there are two forms of commodity money in circulation which are forced, by the application of legal tender laws, to be respected as having the same face value in the... Nicolaus Copernicus (February 19, 1473 – May 24, 1543) was an astronomer who provided the first modern formulation of a heliocentric (sun-centered) theory of the solar system in his epochal book, De revolutionibus orbium coelestium. ...


Trivia

The weathervane on the Royal Exchange takes its form of a grasshopper from Gresham's coat of arms; Faneuil Hall in Boston later borrowed the device. A weather vane, also called a wind vane, is a movable device attached to an elevated object such as a roof for showing the direction of the wind. ... Faneuil Hall, east side Quincy Market Faneuil Hall, located near the waterfront and todays Government Center in Boston, Massachusetts, has been a marketplace and a meeting hall since 1742. ... Boston is a town and small port c. ...


Gresham appears as a background figure is a series of fictional mystery novels by the British author Valerie Anand (writing under the penname Fiona Buckley). The fictional heroine of the stories, Ursula Blanchard, lived in Antwerp with her first husband while he worked as one of Gresham's agents. Valerie Anand is a British author of historical fiction. ...


References

  • This article incorporates text from the Encyclop√¶dia Britannica Eleventh Edition, a publication now in the public domain.

  Results from FactBites:
 
Sir Thomas Gresham - LoveToKnow 1911 (691 words)
The advice of Gresham was likewise sought by the government in all their money difficulties, and he was also frequently employed in various diplomatic missions.
Gresham died suddenly, apparently of apoplexy, on the 21st of November 1579.
A notice of Gresham is contained in Fuller's Worthies and Ward's Gresham Professors; but the fullest account of him, as well as of the history of the Exchange and Gresham College is that by J. Burgon in his Life and Times of Sir Thomas Gresham (2 vols., 1839).
Thomas GRESHAM (Sir Knight) (2482 words)
Gresham appreciated the value of Clough and would praise him generously, but he warned Cecil that Clough was 'very long and tedious in his writing'.
Gresham does not seem to have incurred much personal risk in his loans: on the contrary, he made enormous profits for himself out of his work for the Crown, and it is clear that he was often very unscrupulous in his methods.
Gresham got hold of a duplicate copy of his accounts, added a footnote acknowledging his claim, went off to Kenilworth where the Queen was staying and got her sanction to his claim.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m