Penny Universities of London in the 1700’s
In the 1700’s and late 1600’s, People of similar interest groups tended to congregate in the one coffee house, or Penny University, so called because of the entrance fee of one penny.
Oscar Wilde & the Wits
Poets and literary types, nicknamed “the wits” gravitated to their favorite coffee house. This is where the term “wit” came from, referring to someone who is clever with words.
Oscar Wilde often held court in these circles. It seems Wilde was a fan of coffee, as he said, “I have found that when taken in sufficient quantities, this coffee produces all of the effects of happiness.”
Favorite London Coffee House Hang Outs of the 1700’s
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Coffee houses were frequented by people from all walks of life. These included tradesmen, seafarers, poets, writers, artists, actors, tradesmen, physicians, merchants, musicians, clergy, lawyers and politicians.
Those who liked to talk politics also had their favourite coffee house. These politicians were nicknamed “rabble”. This is where the term “rabble rousers” originated. A coffee house on the corner of Fleet St, attracted the newspaper types.
Some coffee houses attracted people from the same profession. Others attracted a more diverse clientele with the topic of interest in common. These discussions and interactions influenced the social, political, business and the literature trends of the times.
Doing Business Over Coffee
Today, business is often done in a cafe over a cup of java. Likewise, the coffee houses of the 16th and 17th century were popular places for business dealings. Insurance underwriters, especially those with shipping connections, met at Lloyds Coffee House, which was the basis for Lloyd’s of London, the famous insurance house which still operates today.
Coffee & the Foundations of British Business
Anyone interested in stocks knew they could find the “stock jobbers” at Jonathan’s Coffee House. In later years, as the popularity of the coffee houses declined, the stock jobbers formed a “stock exchange”, still a familiar term today.
The basis of British business today, exchanges of ideas, politics and the press stemmed from the early British Coffee Houses. Those influences also spread internationally, and many are still with us.


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