The association from which the Drapers Company derive their origin appears to have partaken of the nature of a social and religious as well as a commercial guild. The exact date of their foundation cannot be ascertained, but they undoubtedly existed as a brotherhood at a very early period. Madox (_Hist. Exch._ p. 391) mentions the Gilda Parariorum, whereof John Maur was alderman, among the adulterine guilds amerced in the 26 Henry II. (1180). The Company possess a certificate by William Camden, Clarencieux King-of-Arms, certifying the arms borne by Henry Fitz Alwin, Lord Mayor 1198-1212, and that he was a member of the Drapers Company. The earliest charter of which the Company have any record is the Charter of Privileges of 38 Edward III. The earliest ordinances of which the Company possess any record purport to be a revision of an earlier set made in 1322. The revised ordinances were made in 1418. The earliest accounts in the possession of the Company are those of the wardens for the year 1415. In that year the number of members is shown to exceed 100, and quarterage was received from 83 persons, and due from 13 more. The arms of the Company were first granted by Sir William Bruges, Garter King-of-Arms, March 10, 1439-40. This grant was confirmed with the addition of crest and supporters by William Harvey, Clarencieux, July 10, 1561, and again confirmed with a slight alteration by Sir William Segar, Garter, June 6, Jac. I. 1613. In 1607 the Company obtained an entirely new charter (4 Jac. I., 19th January), incorporating them by their ancient style of “The Masters and Wardens and Brethren and Sisters of the Guild or Fraternity of the Blessed Mary the Virgin of the Mystery of Drapers of the City of London,” and vesting the government in the master, four wardens and assistants. Under this charter the government of the Company has been carried on down to the present day. (1) The advantages incident to the position of a freeman of the Company consist of the eligibility to participate in the various charitable funds held by the Company in trust for their members, and to become liverymen of the Company. (2) Liverymen of the Company, as such, have no pecuniary or other direct advantages, but they constitute the class from which the governing body is elected, and every liveryman, except in cases of special disqualification, is in his turn placed in nomination for the governing body. (3) The master is entitled to, and is paid, certain small bequests which amount to £2 : 13 : 4 per annum. The wardens are also entitled to certain bequests and allowances which amount on an average to £106 : 4 : 10 per annum. This sum is not paid to them, but goes towards the cost of the election dinner in August, which in ancient times was provided by the wardens. The members of the governing body, as such, have no direct pecuniary or other advantages.