Thomas Gresham

(1518—1579) mercer, merchant adventurer, and founder of the Royal Exchange and Gresham College

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Second son of Sir Richard Gresham, he became a banker, merchant, and royal agent or king's factor. As adviser to Queen Elizabeth I he was an advocate of sound monetary policy, seeking the re‐minting of base money, a reduction in debt, and prompt payment by the crown. He is credited with ‘Gresham's Law’, that ‘bad money drives out good’. He founded the Royal Exchange in London.

Subjects: History — Economics.

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