Gresham House, owned by Thomas Gresham, was located on Bishopsgate Street (Stow 1:76), and was built just prior to 1566 (DNB 8:590). During his life Thomas Gresham hosted many people in his home, such as Sir William Cecil, the secretary to the queen, and Cardinal Chatillon, the Huguenot leader (DNB 8:590-91). He also built eight almshouses behind his home where almsmen, "one supported by alms, or by funds bequeathed for the support of the poor; a bedesman" (OED "Almsman" 1), lived rent-free (Stow 1:76). In Gresham’s will, dated 5 July 1575, he wished that the Royal Exchange would remain in Lady Gresham’s hands until her death. Following her death, the Royal Exchange would be placed in the possession of the Corporation of London, and the Mercer’s Company. The proceeds would go towards funding a college situated in Gresham House. Free lectures were to be given in divinity, astronomy, music, and geometry, of which the Corporation of London was in charge, and civil law, physic, and rhetoric, of which the Mercer’s were in charge (Stow 1:76). The lecturers were to be paid L50 yearly and to have each a separate suite of apartments. They were also to remain unmarried. Lectures were to be read daily, excluding Sundays, in both English and Latin. They were to explore both the practical and theoretical aspects of their given subject (Stow 1:76, Doolittle 32-40, DNB 8:593). Thomas Gresham made one of his shrewd business moves in this transaction. He did not mention the college during the building of the Royal Exchange (DNB 8:592). The Corporation of London and the Mercers surely would not have been in favour of this idea, since it ultimately meant less profit for them. There were a few complications in the process of getting the college underway. Cambridge did not want a rival college in London, and wrote letters to persuade Gresham to change his mind. Following Thomas Gresham’s death, Lady Gresham tried to secure the funds from the Royal Exchange for her own heirs. However, she was unsuccessful (DNB 8:595). The first lectures were scheduled for June 1597, but were postponed due to the plague. After the lectures finally began, other problems later arose. The college needed repair, and L50 per annum was no longer sufficient pay due to inflation. In the end, the only request granted was to have the bell rung at the Royal Exchange to commence lecture times (Doolittle 39-40). In Thomas Heywood’s play If You Know Not Me, You Know Nobody, Thomas Gresham is portrayed as a heroic figure. He says in the play, "W’ are not like those that are not liberal till they be dying; what we meane to give we will bestow and see don whillst we live" (Heywood 301). He is referring to the college here, but this statement is ironic, since the College was not put into place until long after his death. Gresham College was demolished in 1768 (Smith 24). -- Julie Homenuik, 2002