Sir Thomas Gresham, Kt.

“Gresham’s Law: the theory that bad money drives good money out of circulation [Coined by economist Henry Dunning Macleod in 1858 after Sir Thomas Gresham (1519 - 1579), financier and founder of the Royal Exchange in London. Gresham, a financial adviser to Queen Elizabeth I, wrote to her ‘good and bad coin cannot circulate together.’] “Word a Day”

Sir Thomas Gresham is perhaps the most famous of the Gresham line. He was educated at Gonville Hall, Cambridge. Admitted a Mercer 1543, entertained John Dudley, earl of Warwick, at his seat, Intwood Hall, on his journey against the rebel Kitt. He was knighted in December 1559. He was a personal friend of Queen Elizabeth and entertained her at Mayfield and Osterley. He founded the Royal Exchange in London and was the "Royal Merchant".

A Brief History of Gresham College, 1597-1977, by Richard Chartres and David Vermont: Sir Thomas' will was dated May 20, 1575. In addition to a number of bequests to the poor and to prisoners, one part of the revenues of the Royal Exchange property was given in trust to the Lord Mayor and Corporation, with another "moiety" entrusted to the Mercers' Company for the purpose of establishing and supporting Gresham College. The will was signed and sealed with Gresham's device of the grasshopped four years before the great merchant died in November 1579. Holinshed's Chronicle records that "on Saturday the 21st November 1579, between six and seven o'clock in the evening coming from the Exchange to this house in Bishopgate Street, he suddenly fell down in his kitchen and being taken up he was found speechless and presently dead". He was sixty.

Links:

• wikipedia.org