Moneylending in twelfth-century England

• Main Author: Gray, Hazel Catherine
• Published: King's College London (University of London) 2007
• Online Access: https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.756583

The thesis is a study of the role of Jewish and Christian moneylenders in the twelfth-century monetary economy and primarily the reign of Henry II, the basis of which is a detailed computerised analysis of the information contained in the Pipe rolls for the period 1155-1188 and 1191-2. The thesis is divided into two sections. The first part is a brief reappraisal of royal borrowing in the reigns of Henry I and Stephen and the possible origins of a system of borrowing and repayment which was used to great effect during the reign of Henry II but had declined by his death. There is a discussion of royal borrowing for the year 1155-6 followed by an evaluation of the role of several Christian moneylenders including Robert fil. Sawini, Ralph Waspail and most notably William Cade. Their activities are examined in detail on an annual basis to reveal the amount of money they loaned the crown together with some consideration of the underlying procedures involved in collecting and repaying money and possible reasons for royal borrowing. There is then a discussion of the reason why Henry II turned to Jewish moneylenders around 1164 and further analysis of their role in his financial activities. The second part of the thesis consists of an assessment of the career of the pre-eminent Jewish financier Aaron of Lincoln through an examination of the 1191 Pipe roll listings of some four hundred private clients and their loans which were recorded after Aaron's death in 1186. The social status of his clients, their geographical distribution, the amount of money they borrowed, and the forms of collateral on which the loans were secured are all analysed in depth, together with additional comments on underlying financial procedures and associated business activities. The thesis continues with a brief discussion of the financial and social impact of Aaron of Lincoln in the reigns of Richard I and John, again supported by some computerised Pipe roll analysis and closes with a brief discussion of the role of moneylenders in the twelfth-century economy.