First, that the staple of the merchants and the merchandise of England, Ireland and Wales, namely, of wools, hides, woolfells and tin, be holden in the same lands and nowhere else, and that too in the places below written, that is to say, at Newcastle upon Tyne, York, Lincoln, Norwich, London, Winchester, Exeter, and Bristol, for England, Dublin, Drogheda and Cork, for Ireland, Shrewsbury, Carmarthen and Cardiff, for Wales. And for the tin of Cornwall, at Lostwithiel and Truro. And for the tin of Devonshire, at Ashburton, and not elsewhere in England, Ireland or Wales.

And that all alien people there and not elsewhere in England, Ireland or Wales, may freely buy and seek wools, hides and fells and other merchandise, and tin in Ashburton, Lostwithiel and Truro, and not elsewhere, and when they have bought their merchandise at the said places and in the form abovesaid and paid their customs, and have thereon letters sealed with the seal of the cocket[227], they may carry the said wools, hides, fells, tin and other merchandise into what land soever they will, if it be not into a land that is at war or enmity with us or our realm. And that the merchant strangers be warned hereof.

And that no alien by himself or another privily or openly may buy elsewhere wools or other merchandise abovesaid except at the said places, upon forfeiture of the wools or other merchandise abovesaid which he shall have so bought.

And that the merchants of England, Ireland and Wales, who wish to carry wools, hides, fells or tin out of the staples to be sold elsewhere, may not carry them from the staples out of our power until they have remained fifteen days at any of the staples to sell them, and then they may go with the said merchandise whither they will, without making or holding a staple anywhere out of the said lands or within the said lands elsewhere than at the places abovesaid.

And that all people of England, Ireland and Wales, may sell and buy wools and all other merchandise anywhere that they will in the said lands, so that the sale be not made to aliens except at the staple. And that wools, hides, fells and tin be nowhere carried out of the said lands by aliens or denizens except from the staples aforesaid.

And that the merchants of our power make not among themselves any conspiracy or compact to lessen the price of wools or other merchandise abovesaid, or to delay merchant strangers in the purchase or sale of their merchandise, and that those who shall do so and can be attainted hereof be heavily punished according to the ordinance of us and of our good council. And that every man be admitted on our behalf who will sue to attaint and punish such, and that such suit be made before our Chief Justices or others whom we will assign hereto and not elsewhere. And that the merchants and the people of Gascony and of the duchy of Aquitaine, who now are or for the time shall be of the fealty and obedience of us or of our son and heir[228], be holden as denizens and not as aliens in all these affairs.

And that all merchants, native and strangers, be subject to the law merchant in all things that touch trafficking at the places of the staples.

And that no man or woman of a borough or city, nor the commons of the people outside a borough or city in England, Ireland or Wales, after Christmas next coming, use cloth of their own buying that shall be bought after the said feast of Christmas, unless it be cloth made in England, Ireland or Wales, upon heavy forfeiture and punishment, as we by our good council will ordain hereon. And be it known that by the commons in this case shall be understood all people except the King and Queen, earls and barons, knights and ladies and their children born in wedlock, archbishops and bishops and other persons and people of Holy Church, and seculars, who can spend yearly from their rents 40l. sterling, and this so long as it please us by our good council further to extend this ordinance and prohibition.

And that every man and woman of England, Ireland and Wales, may make cloths as long and as short as they shall please.

And that people may have the greater will to work upon the making of cloth in England, Ireland and Wales, we will that all people know that we shall grant suitable franchises to fullers, weavers, dyers and other clothworkers who live mainly by this craft, when such franchises be asked of us.