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Medieval Sourcebook:
Æthelred Unrædy:
The Laws of London, 978


For so long as Ethelred ruled over England the standard for London in the matter of coinage was the standard for all his dominions. His regulations about counterfeiting were applied to all towns under his jurisdiction. The reduction in the number of mints had as its object a better coinage system through more careful supervision. But Ethelred was a weak king and doubtless he did not enforce his laws.

C.5. Also they said that it did not appear to concern them that there was trade between coiners of false money and merchants who take good money to the coiners and buy from them so that they use impure and light coins, and then they furbish their goods and bargain and sell them to those who make coins secretly for money and they cut the name of other money on it and not of the impure. Wherefore it seems to all wise people that there should be three men of upright character. And if any of them be accused, be he English or foreigner, let him be put to the ordeal. And they decreed, that the coiners should lose their hand, and it should be placed above the money-smithy. And the coiners who work in the woods, or who make similar things anywhere, are guilty of their lives, unless the king wishes to have mercy on them.

C.6. And we command, in order that no one shall speak ill of pure money of correct weight, that it shall be struck only in whatever port it may be struck in my kingdom, upon pain of my displeasure.

C.7. And concerning merchants who bring false or chipped money to our port, we have said that they shall defend themselves if they are able; if they cannot, let them incur the penalty of their wer or of their life just as the king wishes; or, as we have said, let them prove themselves innocent in this ordeal that they knew there was nothing wrong with the money itself with which they carried on their business; and afterwards let him suffer the loss due to his carelessness, so that he exchange it with the decreed moneyers for money pure and of correct weight. And let the port-reeves who were cognizant of this offense be guilty of the same blame as the false moneyers, unless the king pardon them or they are able to exculpate themselves by the same cyrsth, or said ordeal.

C.8. And the king advises and commands his bishops, earls, and aldermen and all the reeves that they take care to see to those who make false money and transport it through the country, just as it has been ordered both among the Danes and English.

C.9. And let the moneyers be fewer than they were before; in every important port three, and in every other port let there be one moneyer; and let them have co-workers in their operations; let them make the money pure and of correct weight throughout the same witan as we have said before. And they who guard the ports shall take care upon pain of my displeasure that each coin conform to the standard at which my money is received and let each of these be stamped so that fifteen orae make one pound. And let all guard the money just as I have commanded and as we have chosen all to do.


Source.

From: Benjamin Thorpe, ed., Ancient Laws and Institutes of England, (London: Eyre & Spottiswoode, 1840), pp. 300-303; reprinted in Roy C. Cave & Herbert H. Coulson, eds., A Source Book for Medieval Economic History, (Milwaukee: The Bruce Publishing Co., 1936; reprint ed., New York: Biblo & Tannen, 1965), pp. 137-138.

Scanned by Jerome S. Arkenberg, Cal. State Fullerton. The text has been modernized by Prof. Arkenberg.


This text is part of the Internet Medieval Source Book. The Sourcebook is a collection of public domain and copy-permitted texts related to medieval and Byzantine history.

Unless otherwise indicated the specific electronic form of the document is copyright. Permission is granted for electronic copying, distribution in print form for educational purposes and personal use. If you do reduplicate the document, indicate the source. No permission is granted for commercial use.

© Paul Halsall, October 1998
halsall@murray.fordham.edu