The City of London: Where medieval silliness meets modern finance 

English place names strew confusion with all the restraint of a four-year-old trapped in a confetti barrel, so let’s start by sorting out what we’re talking about: The City of London isn’t the same as the city of London. Give city a small first letter and you’re talking about the place the world (sillly thing that it is) knows as London. Give it a capital letter and it’s not London but a square mile of high finance, non-resident voting, and that all-around oddity that the English do so gloriously. 

That capital-letter City calls itself the City, as if it was the only city the world ever knew. It’s also called the Square Mile because it’s not a square mile, it’s 1.2 square miles.

Follow me through the looking glass, kiddies. Let’s find out about the City of London. I’ll tell you everything I know. And much more. The sign that I’m telling you more than I know is that I quote big chunks of text from people who do know. Trust them. Ignore me.

Irrelevant photo: I have no idea what we’re looking at here, but I do know it’s a wildflower.

History

We pick up our tale in Anglo-Saxon England, at a time when London was England’s biggest city. It wasn’t the capital, but it was a center of trade and commerce. Which are the same thing but doesn’t it sound more important when I use both words? 

The city was important enough that Edward the Confessor–the almost-last of the Anglo-Saxon kings–thought it would be a good place to build a castle, not to mention a church that became known as Westminster so it wouldn’t get itself confused with the east minster, a.k.a. St. Paul’s. 

Then the Normans invaded, and even though William upended the box that was England and gave it a good hard shake, rattling everything and breaking some of it, he was careful not to break London. He granted it a charter and promised its citizens that they’d live under the same laws they’d had under Ed the almost-last Anglo-Saxon king. 

That’s important, because its special status continued under his successors and London grew to be wealthy, self-governing, self-taxing, self-judging, and surprisingly independent of the crown. It had its own militias, called the trained bands, which played a pivotal role at assorted turning points in the country’s history.

Fascinating as that is, though, it’s a tale for another post. I tried to work it into this one but it’s a rabbit hole. It was when I found a bottle labeled “Drink Me” that I realized how much trouble I was in. 

In 1100, London had a population of 18,000. By 1300, that had grown to 80,000. (That’s from the Britannica. WikiWhatsia says it was 100,000. Fair enough. Nobody was counting noses.)

Nearby Westminster had also grown, but not as much. Westminster was for the bean counters and administrators. You wouldn’t have wanted to move there. London was where the action was.

Within London, guilds formed and gained charters from the king. Their role was to defend the interests of their members, set prices and standards in their industries, settle disputes, control apprenticeships, and limit their membership (which just happened to limit competition). By 1400, the City had 100 guilds, and at least some of them were powerful beasts indeed. When a monarch needed money–and rich as they were, monarchs always needed money–the guilds could bow a few times, then finance a war or two and buy themselves and their city increased freedom from royal meddling.

Some of the guilds took to wearing livery–basically uniforms for their trades–and called themselves livery companies. Make a note of that. It’ll be on the test.

With all that history, though, there’s no piece of paper we can turn to that marks the City’s beginning. According to an article by Nicholas Shaxson in the New Statesman, “No charter constitutes [the City] as a corporate body. It grew up beside parliament and the crown, not directly subordinate to either but intertwined with both.”

 

More History

Around London, a patchwork of settlements grew up. In 1550, three-quarters of Londoners lived in the City. Among other things, this means the definition of a Londoner is getting hazy already. By 1700, only a quarter of them did. By 1800, that was down to a tenth. 

Even so, the City was crowded–enough so that at one point the Court of Common Council (that’s a fancy phrase for the City government) tried to stop houses from being subdivided into smaller, even more crowded units in a process called pestering. That doesn’t have much to do with our tale, but I had to sneak it in. It’s a very shallow rabbit hole. We’ll climb back out now.

In the seventeenth century, the crown asked the Corporation–that’s also the City government, and please don’t ask me to explain why it needs two names–to extend its jurisdiction to the new settlements. If it had said yes, London would be one city, but it refused. That’s called the great refusal of 1637 and it set up the odd, two-city structure London still has. Inside the large city that we naive fools think of as London sits the City of London, like the pit inside a peach. It left the sprawling settlements outside to solve their own problems so it could continue as it always had.

This decision eventually turned around and bit it on the ass. The guilds that had controlled competition by limiting their membership? They had no sway outside the City, and competitors were free to offer cheaper goods and services. 

Time passed, and we’ll let the Financial Times article provide a bridge to the present day: 

“Even as Parliament displaced the Crown as the fundamental unit of sovereignty and democracy displaced the Divine Right of Kings as the principle of legitimacy, the state still refused to subordinate the Corporation of London to national laws and practices. Its assets and its ancient privileges remained untouched. . . . The Corporation’s assets, its property inventory and financial portfolio remain unpublished.”

 

Government and Independence

So here we are in the modern City of London. How’s the place governed? 

The guilds have been central from the start, and they still are. The lord mayor, who heads the City of London Corporation, has to belong to one of the livery companies. And he or she has to have been a City sheriff. Both positions are elected by the senior members of the livery companies, who also elect bridge masters, auditors, and ale conners. 

Ale conners? They’re essential. They taste the ale. Also the beer. It was a fairly standard medieval position that most towns and cities have been happy to let sink into quiet obscurity. Not the City.

The livery companies also approve the candidates for alderman. 

After the livery companies have made sure the alder-candidates are acceptable, what happens? Why, the people get to vote, of course. It’s a democracy, isn’t it?

Who are the people? That’s where it gets interesting. Some 8,000 people live in the City, but almost 19,000 people vote there. And it’s all legal

How? If a business has up to nine staff members, it gets one vote. Up to fifty, it can appoint one voter for every five staff members. Above that, it gets ten voters plus one for every additional fifty. 

Anyone want to place bets on how independent those voters are?

The City has twenty-five wards, but the residents are concentrated in four of them, which limits resident impact even more.

As a City spokesperson explained,“The City is a democratic institution. All of its councillors are elected.” 

They pay people a lot of money to say things like that with a straight face.

The spokesperson also said, “As the local authority we provide public services to both 7,400 residents and 450,000 City workers. Therefore to reflect the needs of the workers who come to the City each day, businesses located in the City can appoint people to vote in our local elections.”

Okay, we now have an elected government. What’s its purpose? According to several non-radical sources, its purpose these days is to represent international finance.

An article in the New Statesman says, “By the 1980s, the City was at the centre of a great, secretive financial web cast across the globe, each of whose sections–the individual havens–trapped passing money and business from nearby jurisdictions and fed them up to the City: just as a spider catches insects. So, a complex cross-border merger involving a US multinational might, say, route a lot of the transaction through Caribbean havens, whose British firms will then send much of the heavy lifting work, and profits, up to the City. . . .

“Thus, the role of the City of London Corporation as a municipal authority is its least important attribute. This is a hugely resourced international offshore lobbying group pushing for international financial deregulation, tax-cutting and tax havenry around the world.” 

To make sense of how a city can be a tax haven when it’s inside a country that isn’t a tax haven, we have to go back to the City’s independence. Parliament (and I keep checking this because I can’t entirely believe I have it right) doesn’t have authority over the City. The City functions, basically, as an autonomous state within the U.K. International banks can do things within the City that the governments of their home countries don’t allow. Even if their home country is Britain.

According to a paper called “The City of London Corporation: The quasi-independent tax haven in the heart of London,” “Parliament has powers to make legislation affecting the City of London; however, any suggestion brought forth to the Corporation of London falls within its discretion, without liability of enactment. [No, I didn’t get that the first or third time around either. It has to do with parliament not having authority over the City.] To keep a watchful eye on all legislation passing through Parliament, and to safeguard its exclusive rights and privileges, the City of London has a permanent representative, called the City Remembrancer, who sits in Parliament beneath the Speaker’s chair to observe House of Commons proceedings. The Remembrancer is the City of London’s envoy. Should Parliament contemplate any legislation against the City’s interests, the Remembrancer is duty-bound to communicate such matters to his peers, whereupon it shall lie within the Guildhall’s purview to engage a City Sheriff to petition Parliament against any unsavoury bill.”

To explain how this happened, the New Statesman article says, “Over centuries, sovereigns and governments have sought City loans, and in exchange the City has extracted privileges and freedoms from rules and laws to which the rest of Britain must submit. The City does have a noble tradition of standing up for citizens’ freedoms against despotic sovereigns, but this has morphed into freedom for money.”

Britain being Britain, the City’s independence plays out in outdated costumes and obscure ceremonies that everyone performs as if they made sense. Again, the New Statesman:

Whenever the Queen makes a state entry to the City, she meets a red cord raised by City police [the City has its own police force; London’s police have no authority there unless they’re invited] at Temple Bar, and then engages in a col­ourful ceremony involving the lord mayor, his sword, assorted aldermen and sheriffs, and a character called the Remembrancer.” 

The surviving livery companies include the Worshipful Company of Mercers (its coat of arms looks like it was drawn by a twelve-year-old obsessed with blond-haired princesses; I looked for a unicorn but didn’t find one), the Worshipful Company of Tax Advisers, and the Worshipful Company of International Bankers.

No, I didn’t make any of that up. 

More than one government has tried to democratize the City. So far, they’ve all failed.

Censorship and freedom of the press in England: a quick history

Let’s talk about freedom of the press in England.

Why not in Britain? Because we’ll start before Britain became a country and because English law doesn’t apply to all of Britain. It’s enough to make a non-Briton dizzy. Don’t think about it and you’ll be fine.

We’ll start in 1403, before the printing press was brought to England. Before, in fact, it was invented. That’s when the Guild of Stationers was recognized by London, and it’s an important part of the story, so stay with me. The guild’s members were text writers, book illuminators, booksellers, bookbinders, and suppliers of parchment, pens, and paper. Just to confuse things it’s also called the Stationers’ Company.

They were called stationers because they set up stations–what we’d be more likely to call stalls–around St. Paul’s Cathedral. So there’s one mystery solved. 

Irrelevant photo: St. John’s wort, getting ready to bloom.

Then the printing press came to England and printers joined the guild. 

Printing was the hot technology of the day, so what would any sensible government do but restrict it? When William Tyndale translated the Bible into English–both Henry VIII and England were still Catholic at this point–he played hide and seek with government agents in print shops all across Europe, where he’d fled. Copies of his translation were printed in Germany and smuggled into England.

In England, though, printing could be done only by English citizens, and anything that was going to be printed had to be approved by the privy council. 

Eventually Mary Tudor became the queen and the Guild of Stationers got a royal charter. That gave them a monopoly on printing, so members didn’t face competition from outside the guild. They could only have seen that as a good thing. They also had to settle disagreements over who owned what works within the group, and that led to the invention of copyright. 

We won’t go down that rabbithole today. 

The royal charter also meant that the guild had the power–and presumably the responsibility–to search out seditious and heretical books. Or, as its preamble puts it, “seditious and heretical books rhymes and treatises [that] are daily published and printed by divers scandalous malicious schismatical and heretical persons”.

The heresy du jour  was Protestantism, but after Mary died the heresy du jour was Catholicism, along with more Protestant forms of Protestantism than the approved form of Protestantism. 

So the content of sedition and heresy changed but the concept itself didn’t. 

Isn’t the world a strange place?

In their search for heresy etc., the stationers had to power search, seize, and destroy

Didn’t they get to have all the fun? 

This wasn’t exactly state censorship. It was censorship by a body chartered by the state but working in response to its own interests. I’m speculating here, but you might have been safe enough printing heretical pamphlets on the quiet if you kept on the good side of the guild’s more powerful members. And you might have found some surprising pamphlets stashed in a quiet corner of your workshop if you pissed off the wrong person.

We won’t slog through the period Tudor by Tudor. Let’s just acknowledge that each of them had an interest in stamping out sedition and heresy, in all its alternating forms. Freedom of the press was the next-door neighbor of sedition and would’ve been a dangerous concept to defend in public. If you had nothing to hide, you wouldn’t have any problem showing it to the privy council. 

During the Civil War and under the Commonwealth–that brief period when England was a republic–religious and political thinking went in directions no one could have predicted and no one could control, and print, being the social media of the day, was what all that intellectual ferment poured itself into. 

Given that this was during and just after a civil war, if you’d wanted to argue that freedom of the press and anarchy went together, you’d have found a good stack of evidence for your argument.

Then Cromwell died and Charles II took the throne, and he needed to put all that debate and argument and printing back in the box. The government passed the Licensing Act of 1662. Anything printed now had to carry the name of its printer and its author, and it had to be submitted to a licenser–that was a government official–before it could be printed. 

The licenser kept a copy to check against the printed version, just in case some sly devil inserted a disparaging paragraph about the size of Charles’s wig.

If the text was approved, then it had to be registered with–they’re back again–the stationers. 

The act was meant to be temporary–a placeholder until something better could be pieced together–so it came with an end date, but when nothing better appeared it was renewed. Until 1679, when everyone important got into a tizzy because of Titus Oates’ fantasies about a popish plot, and the act lapsed.

Newspapers moved into the empty space where censorship had once been.

Six years later, the act was reinstated, but the fun had gone out of it, somehow. Licensing print didn’t have the appeal it had once had. It had grown a pot belly and a chicken neck, some mornings it didn’t bother to shave, and heads didn’t turn anymore when it walked down the street. 

But guess what: The government found it could still punish treason, seditious libel, and blasphemy, and it could keep the press in line pretty well that way. And it was all so much more efficient.

A Jacobite printer was executed to prove the point. 

The threat of prosecution was enough to keep most publishers well back from the political edges. And those didn’t stay back? Some were fined. Some were jailed. Some fled abroad. Most played nice.

Before long, London had multiple newspapers and towns around the country had their own papers. The newspaper had become an integral part of the political landscape and that’s glorious but a lot less interesting.

English defamation law has worked at times to limit freedom of the press, since it puts the burden of proof on the defendant, not the plaintiff. In other words, if someone wants to shut you up, unless you have enough money and sheer cussed energy to defend yourself in court, you might just consider shutting up. 

And there are specified limits on freedom of expression. They include making threats, harassment, glorifying terrorism, incitement to racial hatred, or–oh, hell–calling for the abolition of the monarchy. Or imagining overthrowing the monarchy.

That last one carries a life sentence, although the law hasn’t been enforced since 1879. The Guardian challenged it in court and lost on the grounds that the law was a relic of a bygone age and that any change was unnecessary.  

And with that, we’ve come to the present day, so let’s check in with the Stationers’ Company and see what they’ve become now that they can’t stamp out heresy and search other people’s premises. The organization says it has almost a thousand members and sounds deeply snoozeworthy. Most members are “senior executives in the complete range of trades within the Communications and Content industries.” That’s so dull I had to copy it and paste it into place. I tried typing the words but kept passing out.

One of the group’s goals is to create a broad balance of membership. Toward what end? Why, so it can maintain balance, of course. In its membership. 

Listen, don’t ask me these things. They have a hall. You can rent it if the pandemic ever ends.