[9] Penzance signifies, in Cornish, _Holy-head_, i. e. _holy headland_; and the town appears to have been so called in consequence of a small chapel, dedicated to that universal patron of fishermen, Saint Anthony, having formerly stood on the projecting point near the present quay. When it became necessary to adopt arms for the town, the true origin of its name was forgotten or overlooked, and the holy head of Saint John emblazoned. It would, however, appear from the _Liber valorum_, that _Buriton_ was the old name of Penzance,--a sound which to the ear of the antiquary is full of historical intelligence, for the addition of _Bury_ to the name of a town signified that it was a town with a castle; thus, _Buriton_ signified Bury-town, i. e. the Castle town. Some cellars near the quay are to this day called the _Barbican_ cellars; thus tradition points out the castle to have been upon, or near, the site of the present chapel. [10] Penzance was first incorporated in the reign of king James, in 1614; which charter was confirmed by Charles II. [11] The history of these funds exhibits a curious instance of the increase in value which property undergoes, in a series of years, from the progressive improvements of the district in which it lies. The revenue of the Corporation, nearly £2000 per annum, is derived from an estate which was purchased from one Daniel, in the year 1614, for the sum of £34, and 20 shillings a year fee farm rent, payable out of the same to the vender and his representatives for ever. This estate is described in the writings to be "a three corner plot with a timber house (then) lately erected thereon, together with the tolls, profits, and dues of the fairs, markets, and of the pier." The increase of its value has arisen from the enlargement of the market now held on the spot, and from the dues arising from the improved and extended pier. [12] We are desirous of recording this fact since it continues to be erroneously stated in the publication called the "_Coasting Pilot_," as well as in all charts, to be only 13 feet, as it was before the improvements. From the perpetuation of this error the masters of vessels unacquainted with the place, refuse to credit the pilots, when informed by them of the depth of the water. [13] The operation is termed "_Coining_," not, as is very generally supposed, from the stamping of the Duke's arms, but from the cutting off the _corner_ of each block, from the French word _coin_, a _corner_. For every cwt. so stamped, the Duke receives four shillings, producing an annual revenue of £10,000. [14] Since the first edition, the place of coinage has been changed from the middle of the town to a large area near the quay.