Mr. Willis, in his Rot. Parliamentaria, vol. ii. p. 27, gives this account of it: “This borough was, in like manner as spoken of in Launceston, held in the time of the Conqueror by Robert Earl of Morton and Cornwall; and afterwards, as that did, belonged to Richard, brother to King Henry the Third, created Earl of Cornwall in the 15th year of his reign, who made this place a free borough, and granted to the burgesses all those liberties and free customs which he, by his charter, had before granted to his burgesses of Launceston and Helston. This charter is dated the 5th of June, anno 1240, in the 24th year of the reign of his brother King Henry the Third, about ten years after the date of Launceston charter, as I guess. To this Richard succeeded Edmund Earl of Cornwall, his son, who in the 3d year of the reign of Edward I. granted this whole burgh, with the rent of the same, &c. and toll of the market and fairs, and all fines, mulcts, and perquisites thereof belonging to him and his heirs, in fee farm, at the rent of £18 sterling; upon which conditions the said borough being leased to the townsmen, has remained in their hands ever since, and the corporation at present enjoy the profits of the fairs and markets, &c. which yield them about £200 per annum. The royalty of this borough has been in like manner as that at Launceston, vested in the Duchy ever since Edward the Third’s time; and the Dukes of Cornwall, as tenants of the Crown, have received the said fee-farm rent till the reign of the late King William, who alienated the same, and gave it to the present Lord Somers, to whom the corporation pay the abovesaid chief rent of £18.”