From this it would appear that a good deal of the trade from the Baltic was an overland trade and in Frankish hands. The ‘men of the Emperor’ who were treated on equal terms with ‘our people’ were probably the merchants whose successors ultimately established the Hanseatic towns and two or three centuries later the Hanseatic league. [Sidenote: Cnut’s ores of 16_d._ or 1/15 of the pound.] The final clause is as follows:-- (9) Et ut monetarii pauciores sint, quam antea fuerint: in omni summo portu iii, et in omni alio portu sit unus monetarius: And that there be fewer moneyers[219] than there formerly were, in every chief town iii and in every other town let there be one moneyer. et illi habeant suboperarios suos in suo crimine, quod purum faciant et recti ponderis, per eandem witam, quam prediximus. And let them have their sub-workers under their responsibility, so that they make pure [money] and of right weight, under the penalties aforesaid. Et ipsi qui portus custodiant, efficiant per overhirnessam meam, ut omne pondus sit marcatum ad pondus, quo pecunia mea recipitur et eorum singulum signetur ita, quod xv oræ libram faciant. Et custodiant omnes monetam, sicut vos docere praecipio [? praecepto], et omnes elegimus. And let those who have charge of the towns secure, under penalties, that every weight shall be marked at the weight by which my money is received, and that each of them is so signed that xv ores make a pound. And let all maintain the coinage in accordance with the orders we have chosen to enjoin upon you and all men. This clause has already been alluded to in connection with the ‘Laws of the Bretts and Scots.’ The ore of sixteen pence in which the payments of those laws were to be made was the ore described in this clause, for the ore of one fifteenth of the pound was the ore of sixteen pence. The wording of the clause is very distinct. There were to be _monetarii_ (mintmen) at the several mercantile centres, one at each lesser town and at the chief towns three. And every weight used by them was to be marked to the weight at which ‘my money’ was received and every one of the weights was to be marked ‘_so that fifteen ores make a pound_.’ The pound was no doubt the Frankish and English pound which since the time of Charlemagne and Offa contained 7680 wheat-grains and was divided according to English reckoning into twelve ounces of 640 wheat-grains or twenty-pence of 32 wheat-grains. The Danish ore of one fifteenth part of the pound was therefore of 512 wheat-grains or sixteen pence.