Troubles on the Continent brought large numbers of skilled
artisans to this country, and the result was that, in course of time,
the English manufacturers found themselves, as regards the actual cost
of production, able to compete with their opponents. Conscious of their
growing wealth and influence, the citizens began to raise outcries
against their grievances. This feeling sometimes found expression in
great popular riots. During one of these outbreaks, which occurred
in the year 1493, the premises of the Easterlings in Thames Street,
then, and long after, known as the Steelyard, were attacked by the
mob; immense damage was done, and the tumult only quelled by the Lord
Mayor and aldermen, with all the force they could muster, coming to
the protection of the merchants. Some idea of the magnitude of the
influence gained by the Easterlings may be gathered from the fact that,
for several hundreds of years, they not only determined the weights
and measures to be legally used throughout England, but so late as
the year 1531, King Henry VIII. granted them a charter exempting them
from payment of all king’s taxes within the City. But from this period
the increased wealth, and growing intelligence of the citizens of
London, made it manifest that it would shortly be necessary to withdraw
all these privileges. Thus, in the year 1552, the English merchants
presented a petition to the king, complaining that their competitors,
by trading in a body, kept down the price of woollen cloths (one of
the staples of English manufacture), and having command of the foreign
markets, shut English merchants out of them. In proof of this statement
they alleged, that in the previous year (1551), the Steelyard merchants
had exported 44,000 woollen cloths, whereas the English merchants
had been able to export only 1,100. It was also represented that the
whole of the trade was carried on in foreign bottoms, greatly to the
detriment of the English marine. This effort was successful. The
greater part of the monopolies enjoyed by the Steelyard merchants were
abolished, and the whole of the trade with Flanders immediately passed
into the hands of the English, who, in the same year, exported no less
than 40,000 woollen cloths, as compared with 1,100, in the previous
year. In the year 1597, all the exclusive privileges of the League in
England ceased to exist.
Public-domain text, read in full here on John Shaqi.
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