Corporation of London

The Chamber of a city is the place where the funds of the corporation are kept and where moneys due are received - a kind of treasury. The Chamber is run by the Chamberlain, an officer who receives the rents and revenues owed to the corporation. The origin of the Chamber of London is obscure, but as soon as the citizens were sufficiently united to hold lands and tenements in common an officer must have been appointed to collect rents and disburse income for public welfare. The Chamber is first mentioned in 1275 and in the following year Stephen de Mundene is named as City Chamberlain. At first the Chamberlain was chosen by the Mayor and Aldermen, but by 1319 elections were introduced and the officer was chosen by the liverymen in Common Hall.

The Chamberlain's duties combined municipal finance with public banking. His main duty was as treasurer or banker of the City of London with custody of the monies of the Corporation, called the City's Cash, and other funds. Former Chamberlains were able to keep for themselves profits derived from interest on the cash! The Chamberlain also collects the rents of all Corporation properties and makes payments on behalf of the Corporation including salaries and pensions. He also invests money, is responsible for insurance, the preparation of tax returns and production of reports and statistics.

The Lieutenancy of the City of London in its modern form was founded by an Act of Parliament in 1662. Its antecedents include a Commission of Lieutenancy of 1617 (which was issued to the Lord Mayor, eight Aldermen and the Recorder), and the Committee for Martial Causes which was a committee of the Common Council. Under the Act of 1662 the Lieutenants for the City of London were commissioned to levy the trained bands and to raise a Trophy Tax for defraying the necessary charges and incidental expenses of the Commission. The Lieutenancy had multifarious responsibilities in connection with the trained bands and the auxiliaries (later the London militia) including the appointment of officers, conduct and discipline, training and exercise, pay, equipment and recruitment. The militia was of consequence not only during periods when invasion was feared, but also had an important public order role. Since 1872 the Lieutenancy has ceased to commission officers in the auxiliary forces; instead commissions have been issued by the Sovereign. The Commissioners' responsibility for the militia ended in 1907 when the Territorial and Reserve Forces Act of that year converted the various battalions of the militia into units of the Army Reserve, and the Royal London Militia became thereafter the 7th Battalion Royal Fusiliers.