London's markets do not afford the unbroken example of municipal control that they would if a new system were to be created at the present day. Precedent looms large in British administration and even now there are only two ways of establishing a market—by Parliamentary authority and Royal Charter. King Henry III covenanted by charter with the City of London not to grant permission to anyone else to set up a market within a radius of seven miles of the Guildhall, and this privilege was subsequently confirmed by a charter granted by Edward III in 1326. But of late years the City Corporation has waived its rights and allowed markets to be established in various districts wherever a real necessity has been shown to exist. In fact the markets of London have grown with the city, keeping pace with its requirements.
COVENT GARDEN MARKET
The Morning Rush of Farm and Garden Produce for London Consumers.
There remains, however, the fact that certain Corporation markets and Covent Garden market serve as great wholesale terminals, connected more or less unofficially with the numerous local markets in the outlying districts.
Chief among the Corporation markets is Smithfield, covering about eight acres, and costing altogether $1,940,000. There are to be found wholesale meat, poultry and provision markets, with sections for the sale, wholesale and retail, of vegetables and fish. In the last twenty years the development of cold storage processes has lowered the quantity of home-killed meat and remarkably increased the importation of refrigerated supplies. Last year the wholesale market disposed of 433,723 tons of meat, of which 77.2 per cent came from overseas.
Ten years ago the United States supplied 41 per cent of the Smithfield meat, but now these supplies have fallen off enormously and the last report of the Markets Committee says: "The United States, in particular for domestic needs, is within measurable distance of becoming a competitor with England for the output of South America." South America and Australasia are, indeed, the chief producers today for the British market.
This has developed a great cold storage business in London. All told London can accommodate 3,032,000 carcases of mutton, reckoning each carcase at 36 pounds. Over 41 per cent of England's imported meat passes through Smithfield, and railroad access is arranged to the heart of the market. The Great Northern Railway Company has a lease from the corporation on 100,000 feet of basement works under the meat market, with hydraulic lifts to the level of the market hall, and inclined roadways for vehicular traffic.
Most of the tenants at Smithfield are commission salesmen, who pay weekly rents for their shops and stalls at space rates, all the fittings being supplied. Last year these rents brought in $427,920. There is a toll of a farthing on every 21 pounds of meat sold, which together with cold storage, weighing and other charges amounted in the same period to $241,635. The meat sales are entirely wholesale, except on Saturday afternoons, when there is a retail "People's Market," where thousands of the very poor buy cheap joints.