There was, however, a principal way, not a street in our sense of the word, on either side of which, on the north and on the south, as well as along the middle, were stalls and shops. These stalls were at first mere wooden sheds; the goods were exposed by day and removed at night; in course of time they became permanent shops with living rooms at the back and an upper chamber. Among the sheds stood “selds.” The seld was a building not unlike the present Covent Garden Market, being roofed over and containing shops and store-houses. Several “selds” are mentioned in the thirteenth and fourteenth centuries. These were the “great-seld” in the Mercery, called after the Lady Roisia de Coventre. This was near the house of St. Thomas of Acon, where now stands the Mercers’ Hall. There was also the “great seld of London,” in the ancient parish of St. Pancras, therefore on the south side of Cheapside. There was again the “seld of Fryday Street serving for foreign tanners, and time out of mind occupied with these wares”; and there was a seld held in 1304 by John de Stanes, mercer.

In the Liber Albus the seld is distinguished from the “shop, the cellar or solar.” It is also alluded to in the same book as the place where wool and other commodities are sold. Bakers were forbidden to store their bread in selds longer than one night. The seld was therefore a warehouse, a weighing place, as well as a shop. Since we hear nothing about selds in the Calendar of Wills after the fourteenth century, we may infer that a change had been made in the methods of the market. The change in fact was this. North and south of what is now Cheapside were arranged in order the stalls of those who sold everything; these stalls were protected from the weather; the various branches or departments of the market were separated by narrow lanes. It is impossible at this time to assign all the various trades accurately each to its own place—in fact, they always overlapped; but we can do so approximately. The names of the streets belonging to Cheapside are a guide. For instance, Wood Street, Milk Street, Honey Lane, Ironmonger Street, Old Jewry, the Poultry, Scalding Alley, Soper Street, Bread Street, Friday Street, Old Change, explain a great part of the disposition of the ancient market.

When we consider that twenty-five churches stood in or about the great market, and that they were all presumably more ancient than the Conquest, we may deduce the fact that the stalls very early became closed shops, and in many cases permanent houses of residence, and that the market contained a large resident population by which industries were carried on as well as shops. With certain wares, such as milk, honey, wood, spices, mercery, salt-fish, poultry, meat, and herbs, there was no other industry than that of receiving, packing, and distributing. We therefore find few churches between Wood Street and Ironmonger Lane, the chief seat of these branches; while on the south side, for the same reason, there are still fewer churches.

The South Chepe was occupied by money-changers, salt-fish dealers, leather-sellers, bakers, mercers, pepperers, and herb-sellers. Soap-makers were there also at one time, but they were banished to another part of the City before the time of Edward the Second. “Melters,” i.e. of lard and tallow, were also forbidden to carry on their evil-smelling trade in West Chepe so far back as 1203.

A brief study, therefore, enables us to understand, first, why the churches stand thickly in one part and thinly in another; next, that West Chepe was a vast open market containing a resident population, crowded where industries were carried on, and sparse where the goods were simply exposed for sale; and, thirdly, that the place could be easily converted into a tilting ground, as was done on many occasions, by clearing away the “stationers,” that is to say, the people who held stalls or stations about the crosses in Cheapside. On one occasion, at least, this was done, to the great indignation of the people.

There are certain places in the country, and on the Continent, where the mediæval market is still preserved in its most important features. For instance, there is the market-place of Peterborough, which is still divided by lanes, and which has areas allotted to the different trades; and that of Rheims, where the ancient usages are preserved and followed, even to the appearance of Autolycus, the Cheap Jack, and the Quack, who may be seen and heard on every market day.

We may take Stow’s description of the Elizabethan Chepe:

“At the West end of this Poultrie, and also of Bucklesbury, beginneth the large street of West Cheaping, a market place so called, which street stretcheth west till ye come to the little conduit by Paule’s gate, but not all of Cheape ward. In the east part of this street standeth the great conduit of sweet water, conveyed by pipes of lead underground from Paddington for the service of this city, castellated with stone, and cisterned in lead, about the year 1285, and again new built and enlarged by Thomas Ilam, one of the sheriffs 1479.

“About the midst of this street is the Standard in Cheape, of what antiquity the first foundation I have not read. But Henry VI., by his patent dated at Windsor the 21st of his reign, which patent was confirmed by parliament 1442, granted license to Thomas Knolles, John Chichele, and other, executors to John Wells, grocer, sometime mayor of London, with his goods to make new the highway which leadeth from the city of London towards the palace of Westminster, before and nigh the manor of Savoy, parcel of the Duchy of Lancaster, a way then very ruinous, and the pavement broken, to the hurt and mischief of the subjects, which old pavement then remaining in that way within the length of five hundred feet, and all the breadth of the same before and nigh the site of the manor aforesaid, they to break up, and with stone, gravel, and other stuff, one other good and sufficient way there to make for the commodity of the subjects.

“And further, that the Standard in Cheape, where divers executions of the law beforetime had been performed, which standard at the present was very ruinous with age, in which there was a conduit, should be taken down, and another competent standard of stone, together with a conduit in the same, of new, strongly to be built, for the commodity and honour of the city, with the goods of the said testator, without interruption, etc.