[The Wardens of Yeomanry ask that the Court may record the agreement.]
17. The Feltmakers' Joint-Stock Project[271] [Cotton MSS. Titus B.V. 117], c. 1611.
The state of the Feltmakers' Case, with some propositions on their part to remedy the mischiefs they now are constrained to endure.
The feltmakers were by decrees in Star Chamber united to the Company of the Haberdashers, London, and did sit with them in their hall for government of the trade, till they, finding themselves rather oppressed by them than any way cherished or abuses reformed, thereupon by suit obtained a charter from his Majesty by which they were incorporated a body of themselves by the name of Master, Wardens and Commonalty of the Art and Mystery of Feltmakers of London and 4 miles compass.
Hereupon by allowance of the Lord Mayor they published their charter, took them a hall, and accordingly did and do govern their company. Afterwards considering that they were a trade and company of themselves by whom many thousands do live besides their company, namely, the hat trimmers, band makers, hat dyers and hat sellers, which are the haberdashers, and yet nevertheless they were extremely kept under by the haberdashers engrossing the commodity of wools brought in merely for their trade of hatmaking and for no other use, and by that means having both the means of the feltmakers' trade (for wool) and the means of their maintenance (for buying their wares being made) all in their power, by which the feltmakers in general (except some few in particular) do find themselves much wronged, and by means of it and their daily threats did fear the overthrow of their trade: whereupon the generality petitioning to the company of the hard case they lived in, notwithstanding their extreme sore labour, besought them to provide some means for their relief and prevention of what might ensue. The company then by means made them a stock to buy the wools imported for the company at the best hand; but being opposed by the haberdashers, the prices by that means were enhanced, and yet the sale of their wares made kept in bondage as before, whereby many of their trade have been impoverished, many forced to leave their trade, and many to forsake the city, by which means all that now live of feltmaking as pickers, carders, trimmers, bandmakers, dyers and hatsellers are much hindered, the trade being drawn into the country.
Hereupon the company became (as often before) humble suitors for their freedom, which by opposition of the Company of Haberdashers and their false suggestions to the court, they could not obtain—howbeit a Committee of Aldermen have certified it to be fit—neither are suffered to have liberty to search for the abuses of their trade under warrant from the Lord Mayor, which formerly they have often done; besides, their shops threatened to be shut up, notwithstanding their inhabiting of the city many years.
Now the company seeing the extreme malice of the haberdashers, and that the sale of their wares lieth solely in them, whereby many are forced to hawk their hats made contrary to the statutes, and sell at far less rates than they can truly afford them, only to buy victual, whereby if some redress be not had many will be undone or forced to go into the country, to the great damage of the trade in general and overthrow of the corporation which they much desire to support: they have considered to raise them a stock to take in all men's wares when they be made, to avoid hawking, and to encourage men to follow their trade and continue within the corporation, for the benefit of all parties, the city, the trade and company, and all that trim and sell hats and live by that trade, without desire of enhancing the price of anything or damage to any man.
The stock they purpose to be 25,000l., to be resident in some convenient place of the suburbs, where men may take notice to have money for their wares if they will bring them, being made good and at such rates as they may well be afforded, by judgment of sworn men of the trade, who shall rate them both inward and outward, so as the poor shall sell much better than they have done the other sort, howbeit they sell cheaper by 2s. in the pound than for the most part they have done; yet having a certain market and ready money to buy wool again; and, in that then they shall be in no hazard of loss by trusting, as now they do, their gain will be much more.
1. The corporation will flourish.
2. Felts will be better made in that every man shall have price for his ware as his workmanship is.