Pantheon, Italian Opera, Oxford Street
Designed as the "Winter Ranelagh" by James Wyatt, the main room a rotunda based on the Santa Sophia. At the opening in 1772, 1,500 people attended. Walpole described the Pantheon as "the most beautiful edifice in England" and Gibbon considered it "the wonder of the 18th century and of the British Empire". Although the masquerades, fetes and concerts were at first very well received, their popularity waned and by 1780 the price of 6 guineas as admission to the twelve assemblies held during the season had to be reduced. The Pantheon began to be used for other purposes, including an exhibition of Lunardi's Balloon in 1784 and 1785 (see no. 314). By 1791 it was decided to turn the building into a theatre and a licence was obtained for operatic productions. 'The Times' described it as one of the prettiest theatres in Europe. Yet in January the following year the building was almost entirely destroyed by fire.<br><br>Thomas Coutts (1735-1822), founder with his brother James of the banking house of Coutts & Co in the Strand. On the death of his brother in 1778, he remained sole partner and became banker to George III and a large number of the aristocracy. He amassed a huge fortune valued at £900,000.
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