sir thomas gresham
Definition
- Proper noun:
- English financier (1519-1579): Sir Thomas Gresham was a prominent English merchant and financier who served the Tudor monarchs. He is best known for founding the Royal Exchange in London and for the economic principle named after him, Gresham's Law.
Usage Examples
- Proper noun:
- Sir Thomas Gresham was a key financial advisor to Queen Elizabeth I.
- The Royal Exchange, established by Sir Thomas Gresham, became a center of commerce in London.
- Historians often discuss the impact of Sir Thomas Gresham on 16th-century English finance.
Advanced Usage
- "Gresham's Law": The economic principle stating that "bad money drives out good." This means that if two forms of commodity money are in circulation, the more valuable commodity (good money) will be hoarded and disappear from circulation, while the less valuable one (bad money) will be used in trade.
- The coinage debate perfectly illustrated Gresham's Law, as people began hoarding the silver coins.
Variants and Related Words
- Gresham's Law (noun phrase): The economic principle associated with Sir Thomas Gresham.
- Royal Exchange (proper noun): The building and institution in London founded by Sir Thomas Gresham.
Synonyms
- Financier: A person concerned with the management of large amounts of money on behalf of governments or other large organizations.
- Merchant: A person or company involved in wholesale trade, especially one dealing with foreign countries.
Related Phrases
- Founder of the Royal Exchange: A common descriptive phrase for Sir Thomas Gresham.
- Tudor financier: A historical classification for his role and era.
Noun
-
English financier (1519-1579)
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