The most striking view in the interior of the city is at the open central space whence Threadneedle Street, Cornhill, Lombard Street, King William Street, Walbrook, Cheapside, and Princes Street, radiate in seven different directions. (See illustration.) While the corner of the Bank of England abuts on this space on the north, it is flanked on the south by the Mansion House, and on the east by the Royal Exchange. It would be a curious speculation to inquire how much money has been spent in constructions and reconstructions in and around this spot during half a century. The sum must be stupendous. Before new London Bridge was opened, the present King William Street did not exist; to construct it, houses by the score, perhaps by the hundred, had to be pulled down. Many years earlier, when the Bank of England was rebuilt, and a few years later, when the Royal Exchange was rebuilt, vast destructions of property took place, to make room for structures larger than those which had previously existed for the same purposes. For some distance up all the radii of which we have spoken, the arteries which lead from this heart of the commercial world, a similar process has been going on to a greater or less extent. Banking-houses, insurance-offices, and commercial buildings, have been built or rebuilt at an immense cost, the outlay depending rather on the rapidly increasing value of the ground than on the actual charge for building. If this particular portion of the city, this busy centre of wealth, should ever be invaded by such railway schemes as 1864, 1865, and 1866 produced, it is difficult to imagine what amounts would have to be paid for the purchase and removal of property. Time was when a hundred thousand pounds per mile was a frightful sum for railways; but railway directors (in London at least) do not now look aghast at a million sterling per mile—as witness the South-Eastern and the Chatham and Dover Companies, concerning which we shall have to say more in a future page.
The seven radii of which we have spoken may be thus briefly described, as a preliminary guide to visitors: 1. Leaving this wonderfully-busy centre by the north, with the Poultry on one hand and the Bank of England on the other, we pass in front of many fine new commercial buildings in Princes and Moorgate Streets; indeed, there is not an old house here, for both are entirely modern streets, penetrating through what used to be a close mass of small streets and alleys. Other fine banking and commercial buildings may be seen stretching along either side in Lothbury and Gresham Streets. Farther towards the north, a visitor would reach the Finsbury Square region, beyond which the establishments are of less important character. 2. If, instead of leaving this centre by the north, he turns north-east, he will pass through Threadneedle Street between the Bank and the Royal Exchange;
It will therefore be useful for a stranger to bear in mind, that the best centre of observation in the city is the open spot between the Bank, the Mansion House, and the Royal Exchange; where more omnibuses assemble than at any other spot in the world; and whence he can ramble in any one of seven different directions, sure of meeting with something illustrative of city life. The 7th route, not yet noticed, we will now follow, as it proceeds towards the West End.
The great central thoroughfare of Cheapside, which is closely lined with the shops of silversmiths and other wealthy tradesmen, is one of the oldest and most famous streets in the city—intimately associated with the municipal glories of London for centuries past. Many of the houses in Cheapside and Cornhill have lately been rebuilt on a scale of much grandeur. Some small plots of ground in this vicinity have been sold at the rate of nearly one million sterling per acre! On each side of Cheapside, narrow streets diverge into the dense mass behind—Ironmonger Lane, King Street, Milk Street, and Wood Street, on the north; and among others, Queen Street, Bread Street, where Milton was born, and where stood the famous Mermaid Tavern, where Shakespeare and Raleigh, Ben Jonson and his young friends, Beaumont and Fletcher, those twin-dramatists, loved to meet, to enjoy “the feast of reason and the flow of soul,” to say nothing of a few flagons of good Canary wine, Bow Lane, and Old ’Change, on the south. The greater part of these back streets, with the lanes adjoining, are occupied by the offices or warehouses of wholesale dealers in cloth, silk, hosiery, lace, &c., and are resorted to by London and country shopkeepers for supplies. Across the north end of King Street stands the Guildhall; and a little west, the City of London School and Goldsmiths’ Hall. At the western end of Cheapside is a statue of the late Sir Robert Peel, by Behnes. Northward of this point, in St. Martin’s-le-Grand, are the buildings of the Post and Telegraph Offices; beyond this the curious old Charter House; and then a line of business streets leading towards Islington. Westward are two streets, parallel with each other, and both too narrow for the trade to be accommodated in them—Newgate Street, celebrated for its Blue Coat Boys and, till the recent removal of the market to Smithfield, for its carcass butchers; and Paternoster Row, still more celebrated for its publishers and booksellers. In Panyer Alley, leading out of Newgate Street, is an old stone bearing the inscription:
When ye have sovght the citty rovnd, Yet stil this is the highst grovnd.
Avgvst the 27, 1688. [20]
At the west end of Newgate Street a turning to the right gives access to the once celebrated Smithfield and St. John’s Gate. South-west of Cheapside stands St. Paul’s Cathedral, that first
