The Royal Exchange in Threadneedle Street in the City was established by Thomas Gresham in 1599 as a meeting place for merchants throughout Europe. It was intended as a rival to an equivalent meeting place in Antwerp called the Bourse. It became the Royal Exchange in 1571 under Elizabeth I.

The Exchange had been destroyed once before by fire in the 1666 fire of London and rebuilt by City Surveyor Edward Jerman. In this second fire of 1838 the buildings were once again destroyed when a fire which started in the Lloyd's rooms was allowed to consume the rest of the buildings (including the clocktower which continued to chime as it burned down) when the firemen's hands froze to the pumps (it was January and very cold). This time the new build was designed by William Tite.

The Royal Exchange is today a luxury shopping centre.

The Herschels were in South Africa at the time of the fire, though returned to London not long after. It may be that this print found its way into the collection because of this, that news from home sometimes appears more significant when you are a long way away.