In this modern age of the ubiquitous and futuristic glass skyscraper (as exciting as they undoubtedly are) it comes as an amusing surprise to happen on Lombard Street with its historic hanging signs.
Explanation? Let’s time-travel back to the 13th century where the city’s Jews, barred by the authorities from ordinary trade, were however not bound by Church laws that forbade the lending of money for interest. As a consequence, many became money lenders and grew wealthy until King Edward I in 1290, decided they provided convenient scapegoats and banished them from the country with great barbarity.
And so, into the vacuum, came the goldsmiths from Lombardy who settled here, hence ‘Lombard Street’. They managed to get round the Church’s usury laws and became in effect, London’s first unofficial bankers. Much of our banking terminology originates from Lombardy. ‘Cash’ comes from the Italian word casa for box. ‘Bank’ comes from the Italian word banco for bench where the early merchants would conduct from their business from.
In an age where most people couldn’t read, the easiest way for businesses to advertise their presence was to hang an eye-catching sign outside their building. Eventually, other trades got in on the act.
Sometimes the images bore no connection with the business and were just at the owner’s whim – a cat-a-fiddling for the Commercial Bank of Scotland, a grasshopper for Martin’s Bank. Some images stuck – take the black horse for Lloyds Bank for instance.
But by the late 18th century, after several tragic events of signs falling onto passers-by, they were taken down, fixed to walls or replaced by numbers.
The impressive signs we see down Lombard Street were resurrected in 1901 for Edward VII’s coronation and are another great reminder of a London that used to be.
Image courtesy of Wikipedia