Scholars were often reduced not only to beg, but to borrow; and as this method of raising money might not always have been easy, even where security was offered, a system of pledging was devised by the authorities for the benefit of impecunious members of the University, both high and low. In all essentials this department is hardly distinguishable from a pawnbroking establishment conducted under respectable auspices, but we should go sadly astray if we suffered our views of the institution to be tinged by the associations of a dingy shop in some back street in which hopeless penury plays its last shift. We should rather turn our eyes to the beatific vision of the Mons Pietatis as pictured by Botticelli--a hillock of florins, with the kneeling forms of worthy suppliants and the cloud-borne founder crowned by angelic hands. The poor scholar did not part definitely with his cherished possession; he might hope to recover it in sunnier days, and meanwhile he was enabled to tide himself over an awkward emergency. At the same time the brokers took care to make the transaction a source of profit to the University. The earliest benefaction for the support of scholars at Oxford consisted in the annual payment of forty shillings by the townsmen in atonement for the execution of certain clerks. In the year 1219 this charge was undertaken by the Abbey of Eynsham, by which the fine was punctually disbursed to the period of its dissolution. A similar but smaller contribution was made by the Abbey of Oseney, but nothing is known as to its origin. Irregularities in the application of these funds induced the Chancellor, Robert Grosseteste, in 1240, to frame an ordinance which resulted in the creation of the "Frideswyde Chest." This treasury was the parent of many others--at the close of the fifteenth century there were as many as twenty-four--and it long remained the typical, as it was the earliest, form of scholastic benefaction, existing side by side with the foundation of colleges, to which it gave an important impetus. The management of these chests was, in all cases, practically identical. The preamble of the ordinance, by which the administration of the funds was regulated, first stated the name of the donor, and then proceeded to announce the desire of the University to requite his liberality by annual masses and celebrations. The beneficiaries also were enjoined to repeat so many "Pater Nosters" and "Aves" for the repose of his soul.