Banking and Insurance in 17th Century London

Who founded London's first commodity exchange?

• Sir Thomas Gresham

• John Smith

• Alexander Hamilton

• Adam Smith

The Royal exchange was based on the ________ bourse.

• Antwerp

• London

• New York

• Tokyo

What roles did Sir Thomas Gresham hold?

• Broker and Royal agent

• Banker and Merchant

• Politician and Lawyer

• Scientist and Inventor

Who officially opened the Royal Exchange in 1571?

• Queen Elizabeth I

• King Henry VIII

• Sir Thomas Gresham

• William Shakespeare

When was the first money-scrivener firm established?

• 1636

• 1650

• 1672

• 1659

Who took over after Robert Abbott's death?

• John Morris

• Robert Clayton

• Frank T. Melton

In what year was the first English cheque written?

• 1636

• 1650

• 1672

• 1659

After the Royal Mint was seized by Charles I in 1640, wealthy merchants began:

• hoarding gold and silver privately.

• investing in foreign currencies.

• trading exclusively with the crown.

• establishing private mints.

What were the main reasons for the banking crisis in 1672?

• Funds needed for war

• Refinancing of debt

• Need for new trade routes

How did Charles II's reforms in 1672 impact the relationship between the Crown and goldsmith-bankers?

• They strengthened the relationship by providing more financial support to goldsmith-bankers.

• They weakened the relationship by defaulting on loans from goldsmith-bankers.

• They had no significant impact on the relationship.

• They led to the nationalization of goldsmith-banking operations.