The City of London is only a very small part of Greater London, taking up little more than a square mile in area (approximately two square kilometers). Most of the best known parts of London, such as Parliament House, Westminster Abbey, Trafalgar Square, Oxford Street, the West End, and so on, are quite separate from the City of London. The City of London is usually referred to as just The City, and today it is devoted primarily to business and finance. The City plays a major role in global investment and finance and leads the rest of the world in certain areas. Enormous amounts of money are handled each day in currency conversions, and about forty percent of this dealing is carried out within the City. Approximately a quarter of a million people work in the City, many directly involved in finance, while others are working in the fields of law, accounting, banking, retailing, security, and transport. There are also people living within the City bounds, mainly in the Barbican development, but this number, around six thousand, is small compared to the number who need to commute there each day ("Introduction to the City of London").
References to "The City" and "The Crown" in Britain may be misunderstood by Americans. As noted, "The City" refers to a privately owned Corporation, or Sovereign State, occupying an irregular rectangle of 677 acres and located right in the heart of the 610 square mile "Greater London" area. The "Crown" is a committee of twelve to fourteen men who rule the independent sovereign state known as London or "The City." The city is not actually part of England and is not subject to the Sovereign. It is also not under the rule of the British parliament. It is more like the Vatican in Rome and is a separate, independent state. It is often called "the wealthiest square mile on earth," and it is ruled over by a Lord Mayor. In this small area are grouped together Britain's great financial and commercia...