Corporation of London

The Corporation of London had exercised the right to charge duties on coal entering the City since medieval times. Coal duties were charged to raise money for particular projects, such as the rebuilding of the City after the Great Fire in 1666. A new Coal Exchange and Market was constructed on Lower Thames Street, close to Billingsgate Market. The building was opened by Prince Albert in 1849. A Roman hypocaust was found during construction and preserved in the basement of the building. The market was designed by James Bunning, City Architect, in the form of a rotunda, with interior galleries and an iron framework. The decoration of the market was well-known, including murals showing some of the flowers and fossils found in coal formations.

The building included offices for coal factors and others connected with the trade including the Corporation of London officers, who entered all ships bringing coal into the port of London, and collected the City dues on all coal brought within certain limits. The money collected by this tax was usually employed for metropolitan improvements. The Exchange was the property of the Corporation of London, and an open market was held there three days a week, on Mondays, Wednesdays, and Fridays.