Joseph Addison and the Royal Exchange: 18th-Century Commerce

Joseph Addison (1672–1719) from The Spectator, N 69 (Published in 1711)

The Royal Exchange

In the periodical The Spectator No. 69, Joseph Addison creates a persona that reveals a new, diverse society of merchants who established the Royal Exchange. These merchants rivaled the powers of Parliament and past Monarchies over the British domains.

The Royal Exchange, located in the heart of the City (London's financial district), was not only a hub for business but also a center for eighteenth-century essays, poetry, letters, and opinions, originally edited by Addison and Steele.

It stands as a symbol of globalisation, highlighting the “increasing importance of the international commerce to the British economy.” Addison believed the world seemed to revolve around trade. English people worried about foreign luxuries eroding the national spirit of independence and self-sufficiency.

Addison states that the Royal Exchange gives him a “secret satisfaction” and “gratifies” his vanity because he is English. He enjoys an assembly of “countrymen and foreigners consulting together” in the business he calls “mankind.” He claims it makes the “metropolis” a kind of “emporium.” To Addison, factors in the trading world are equivalent to ambassadors in a political world.

Addison was a great lover of mankind and admired a “prosperous and happy multitude.” He enjoyed seeing men flourishing on their own private fortunes. He also appreciated that they could bring whatever they wanted into their country and export whatever was dispensable.

On Shops

The Female Tatler, No. 9 (Richard Steele, 1672–1729, and Addison)

The Female Tatler was published three times a week and attributed to an imaginary “Mrs. Crackenthrope, a Lady that knows everything.” It aimed to entertain and instruct female readers, as demonstrated in the piece “On Shops,” from 1709.

Women began writing this text in 1708. Steele intended to address the activities of women in the 18th century. The text is addressed to the women of the metropolis of London, encouraging them to buy the newspaper so they could read and consume content. The focus includes ephemeral fashion. This piece highlights consumerism, imports, appearances, entertainment, and women's clothing.