The north front of the Royal Exchange is adorned with pilasters of the Composite order, but has neither columns nor statues on the outside, and instead of the two compass pediments has a triangular one.
Within the piazzas of these two fronts are two spacious stair cases with iron rails, and black marble steps; these lead into a kind of gallery that extends round the four sides of the building, and in which were about two hundred shops, that have been let from 20l. to 60l. a year each; and a very considerable trade was carried on here; but it has long declined, and all the shops are deserted.
One side of this gallery is employed as auction rooms for furniture, and in other apartments above stairs are the Royal Exchange Assurance office, &c. and in the vaults are the pepper warehouse of the East India company.
The inside of the area is surrounded with piazzas like those of the south and north fronts; forming ambulatories for the merchants to shelter themselves from the weather. Above the arches of these piazzas is an entablature with curious enrichments; and on the cornice a range of pilasters with an entablature extending round, and a compass pediment in the middle of the cornice of each of the four sides. Under that on the north are the King’s arms; on the south those of the city; on the east those of Sir Thomas Gresham; and under the pediment on the west side the arms of the company of Mercers, with their respective enrichments.
In these intercolumns are twenty-four niches, nineteen of which are filled with the statues of the Kings and Queens of England, standing erect, drafted in their robes and with their regalia, except the statues of Charles II. and George II. which are dressed like the Cæsars.
These statues are, on the south side; Edward I. Edward III. Henry V. Henry VI. On the west side, Edward IV. Edward V. with the crown hanging over his head; Henry VII. and Henry VIII. On the north side, Edward VI. Mary, Elizabeth, James I. Charles I. Charles II. and James II. And on the east side are William and Mary in one niche, Queen Anne, George I. and George II. All these statues were painted and gilt, by a voluntary subscription, in the year 1754.
The four niches that are vacant, are those where Edward II. Richard II. Henry IV. and Richard III. should have been: upon which Maitland says, that hence it seems that the city had no mind to shew any respect to the said Kings, two of whom took away their charters, and the other two were usurpers. But why Henry IV. should be excluded as an usurper, and his brave son Henry V. and Henry VI. be placed there, who only enjoyed the crown in consequence of his usurpation, is not easily accounted for. Richard III. was indeed a monster of cruelty: but Mary was no less cruel, and yet a statue is here erected to her honour. Though Edward II. and Richard II. took away the charter of the city, King Charles II. did so too, and yet has three statues at the Royal Exchange; and his brother James II. who has also a statue, followed his brother’s steps, and not only humbled the city, but caused an Alderman to be hanged at his own door, without being allowed on his trial the time necessary to send for his witnesses.
Under the piazzas within the Exchange are twenty-eight niches, all vacant except two; one in the north west angle, where is the statue of Sir Thomas Gresham, and another at the south west, of Sir John Barnard, who is perhaps the only citizen of London, that has had the honour of having his statue erected in his life-time merely on account of his merit.
In short, in the center of the area is erected, on a marble pedestal about eight feet high, another statue of King Charles II. in a Roman habit, executed by Mr. Gibbon, and encompassed with iron rails. On the south side of the pedestal, under an imperial crown, a scepter, sword, palm branches, and other decorations, is the following inscription:
Carolo II. Cæsari Britannico,