Royal Exchange (New York City) facts for kids
Quick facts for kids Royal Exchange |
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| Alternative names | Old Royal Exchange, Merchants Exchange |
| General information | |
| Location | New York City, New York, U.S. |
| Estimated completion | 1675 |
| Renovated | 1752 |
| Demolished | 1799 |
The Royal Exchange building was an important place in New York City. It was also known as the Old Royal Exchange or the Merchants Exchange. This building was a covered market where people could buy and sell goods. It was located near the bottom of Broad Street, close to Water Street.
The Royal Exchange started as a one-story building in 1675. Later, in 1752, it was rebuilt. The new building had a meeting hall on its upper floor. This design was common for market halls in England and Europe at that time.
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A Hub for Important Meetings
The Royal Exchange became a key location for many important groups.
Business Leaders Meet
The Chamber of Commerce in New York City used the second-floor meeting area. This group helped businesses in the city. They met there from 1770 until the American Revolutionary War began.
New York's Capital Building
In 1785, New York City became the first capital of the new United States. Because of this, the New York State Legislature started meeting in the Royal Exchange building. The group that used to meet there, the Congress of the Confederation, moved to another building called Federal Hall.
First Federal Court Sessions
The Royal Exchange also hosted the very first federal court in the United States. On November 3, 1789, the federal court for the District of New York met there. This was the first federal court to meet under the new Constitution of the United States.
The first judge for this court was James Duane. One famous lawyer, Aaron Burr, was allowed to practice law by this court. The court later moved to Federal Hall in 1791.
The Supreme Court's First Home
The highest court in the country, the Supreme Court of the United States, held its first-ever meeting in the Royal Exchange. This happened from February 2 to 10, 1790.
Before the court met, city officials made sure the area was quiet. They moved the market's butchers and put chains across the street. This was to stop noise from carts from bothering the court. The Supreme Court met for a second time in August 1790. In total, the court met in New York for twelve days. In 1791, it moved to Philadelphia with the rest of the federal government.
The End of the Royal Exchange
The Royal Exchange building was torn down in 1799. Even though it's gone, it played a big role in the early history of New York City and the United States.
