Adam de Stratton
Encyclopedia
Adam de Stratton was a royal moneylender
, administrator and clergy
man under Edward I of England
. He advanced professionally through the patronage of the earls of Devon
, and became chamberlain of the Exchequer
and steward
of Isabella, Countess of Devon. At the same time he made himself an enormous fortune through moneylending, primarily by acquiring debts from Jewish moneylenders. His business methods were dubious, and often involved various illegal activities. In 1290 he fell victim to an investigation of corruption in the royal administration, and from 1292 until his death—no later than 1294—he was held in prison. Stratton has been called by a modern historian "the greatest and probably the most unscrupulous of thirteenth-century money lenders, who eventually met the fate he deserved."
in Wiltshire
. Adam himself used the name "de Argoges" until 1264, when he appears as "de Stratton"; a change which probably reflects his emergence as a major landowner in that area. Nothing is known of Adam's early life; the first mention of him dates from 1256, when he was a royal clerk at the Exchequer
. It is likely that he procured this position from the Redvers earls of Devon
, with whom he had a strong connection throughout his career. The earls of Devon were hereditary chamberlains of the Exchequer. Through the Devon patronage he rose quickly through the ranks; in 1263 he became master of the king's works
at Westminster
, and Isabella, Countess of Devon's deputy as the chamberlain of the Exchequer. In 1276 Countess Isabella enfeoffed
him with the chamberlainship, a position that was accompanied by several manors in Wiltshire
. As a clergyman he was also a notorious pluralist, and in 1280 held 23 benefices.
The majority of his fortune, however, came from moneylending. Up until their expulsion in 1290, the major moneylenders in England were Jews, who were not covered by Christian bans on usury
. During the reign of Henry III
, however, the Jews were taxed at extortionate rates, and many were forced to sell acquired debts at reduced prices. These debts were lucrative, because the buyers were not bound by the existing contract. They could demand higher rates, or sometimes even take forfeit in land. Stratton was one of the greater beneficiaries of the opportunities offered by trading in Jewish debts. From at least 1271 he was also associated with the Riccardi, a major Italian financier family.
From 1277, Stratton acted in the capacity as Countess Isabella's steward
, though he never officially used that title. It was in this post that he committed some of his most grievous offences. In 1278 he was accused of cutting off the seal of a charter from Quarr Abbey
, thereby invalidating its authenticity. As a result several other similar cases were brought to light, but none led to conviction. It was widely believed that he had bought himself off with bribes. Stratton's transgressions continued however, and by the late 1280s the complaints reached King Edward I
. Edward returned from a prolonged stay in Gascony
in late 1289, and immediately started a purge of corruption in the royal administration, including proceedings against Ralph de Hengham
, Chief Justice
of the King's Bench
. Stratton was relieved of his office of chamberlain, along with his temporal possessions
, on 17 January 1290. On his arrest, £
12,666 17s
7d was found in his possession, a vast sum at the time, equivalent to about £ in present day terms. According to the chronicle of Bartholomew Cotton, a silk-lined chest was also discovered, containing fingernail and toenail clippings, women's pubic hair, and feet of toads and moles. These were considered the ingredients of witchcraft
, and the box was sealed up by officials, but Stratton managed to break the seal and throw the contents down a latrine.
His friends procured a pardon for 500 marks
by 12 June 1291, and Stratton was released. He retained his ecclesiastical rents of £1,000, which still made him a wealthy man. Still, the sum was insignificant compared to his previous holdings in land, which Cotton estimated at £50,000. His eventual downfall, however, resulted from an ongoing conflict with the Cluniac
priory of Bermondsey
. Stratton was convicted of forging a grant, and by Midsummer
1292 he was imprisoned in the Tower
. By the end of the year he was condemned, and he is referred to as a felon in the years 1292–94. By 14 August 1294 he was dead, though it is not known whether he was executed or died from natural causes. According to F. M. Powicke
, "the career of Adam de Stratton deserves our attention as a striking example of the interplay of public and private, local and central, royal and baronial, financial and administrative activities in social life."
Moneylender
A moneylender is a person or group who offers small personal loans at high rates of interest.-See also:* Microfinance - provision of financial services to low-income individuals....
, administrator and clergy
Clergy
Clergy is the generic term used to describe the formal religious leadership within a given religion. A clergyman, churchman or cleric is a member of the clergy, especially one who is a priest, preacher, pastor, or other religious professional....
man under Edward I of England
Edward I of England
Edward I , also known as Edward Longshanks and the Hammer of the Scots, was King of England from 1272 to 1307. The first son of Henry III, Edward was involved early in the political intrigues of his father's reign, which included an outright rebellion by the English barons...
. He advanced professionally through the patronage of the earls of Devon
Earl of Devon
The title of Earl of Devon was created several times in the Peerage of England, and was possessed first by the de Redvers family, and later by the Courtenays...
, and became chamberlain of the Exchequer
Exchequer
The Exchequer is a government department of the United Kingdom responsible for the management and collection of taxation and other government revenues. The historical Exchequer developed judicial roles...
and steward
Steward (office)
A steward is an official who is appointed by the legal ruling monarch to represent him or her in a country, and may have a mandate to govern it in his or her name; in the latter case, it roughly corresponds with the position of governor or deputy...
of Isabella, Countess of Devon. At the same time he made himself an enormous fortune through moneylending, primarily by acquiring debts from Jewish moneylenders. His business methods were dubious, and often involved various illegal activities. In 1290 he fell victim to an investigation of corruption in the royal administration, and from 1292 until his death—no later than 1294—he was held in prison. Stratton has been called by a modern historian "the greatest and probably the most unscrupulous of thirteenth-century money lenders, who eventually met the fate he deserved."
Early career
Adam Stratton was the son of Thomas de Argoges, or Arwillis, of Stratton St MargaretStratton St Margaret
Stratton St Margaret is a civil parish in the Borough of Swindon, Wiltshire, England. The parish covers north-eastern suburbs of Swindon including Stratton St Margaret itself along with Upper Stratton, Lower Stratton, Nythe and Kingsdown.-History:...
in Wiltshire
Wiltshire
Wiltshire is a ceremonial county in South West England. It is landlocked and borders the counties of Dorset, Somerset, Hampshire, Gloucestershire, Oxfordshire and Berkshire. It contains the unitary authority of Swindon and covers...
. Adam himself used the name "de Argoges" until 1264, when he appears as "de Stratton"; a change which probably reflects his emergence as a major landowner in that area. Nothing is known of Adam's early life; the first mention of him dates from 1256, when he was a royal clerk at the Exchequer
Exchequer
The Exchequer is a government department of the United Kingdom responsible for the management and collection of taxation and other government revenues. The historical Exchequer developed judicial roles...
. It is likely that he procured this position from the Redvers earls of Devon
Earl of Devon
The title of Earl of Devon was created several times in the Peerage of England, and was possessed first by the de Redvers family, and later by the Courtenays...
, with whom he had a strong connection throughout his career. The earls of Devon were hereditary chamberlains of the Exchequer. Through the Devon patronage he rose quickly through the ranks; in 1263 he became master of the king's works
Office of Works
The Office of Works was established in the English Royal household in 1378 to oversee the building of the royal castles and residences. In 1832 it became the Works Department within the Office of Woods, Forests, Land Revenues, Works and Buildings...
at Westminster
Westminster
Westminster is an area of central London, within the City of Westminster, England. It lies on the north bank of the River Thames, southwest of the City of London and southwest of Charing Cross...
, and Isabella, Countess of Devon's deputy as the chamberlain of the Exchequer. In 1276 Countess Isabella enfeoffed
Enfeoffment
Under the European feudal system, enfeoffment was the deed by which a person was given land in exchange for a pledge of service. This mechanism was later used to avoid restrictions on the passage of title in land by a system in which a landowner would give land to one person for the use of another...
him with the chamberlainship, a position that was accompanied by several manors in Wiltshire
Wiltshire
Wiltshire is a ceremonial county in South West England. It is landlocked and borders the counties of Dorset, Somerset, Hampshire, Gloucestershire, Oxfordshire and Berkshire. It contains the unitary authority of Swindon and covers...
. As a clergyman he was also a notorious pluralist, and in 1280 held 23 benefices.
The majority of his fortune, however, came from moneylending. Up until their expulsion in 1290, the major moneylenders in England were Jews, who were not covered by Christian bans on usury
Usury
Usury Originally, when the charging of interest was still banned by Christian churches, usury simply meant the charging of interest at any rate . In countries where the charging of interest became acceptable, the term came to be used for interest above the rate allowed by law...
. During the reign of Henry III
Henry III of England
Henry III was the son and successor of John as King of England, reigning for 56 years from 1216 until his death. His contemporaries knew him as Henry of Winchester. He was the first child king in England since the reign of Æthelred the Unready...
, however, the Jews were taxed at extortionate rates, and many were forced to sell acquired debts at reduced prices. These debts were lucrative, because the buyers were not bound by the existing contract. They could demand higher rates, or sometimes even take forfeit in land. Stratton was one of the greater beneficiaries of the opportunities offered by trading in Jewish debts. From at least 1271 he was also associated with the Riccardi, a major Italian financier family.
Illegal activities and downfall
Steward (office)
A steward is an official who is appointed by the legal ruling monarch to represent him or her in a country, and may have a mandate to govern it in his or her name; in the latter case, it roughly corresponds with the position of governor or deputy...
, though he never officially used that title. It was in this post that he committed some of his most grievous offences. In 1278 he was accused of cutting off the seal of a charter from Quarr Abbey
Quarr Abbey
Quarr Abbey is a monastery between the villages of Binstead and Fishbourne on the Isle of Wight in southern England. The name is pronounced as "Kor" . It belongs to the Order of St Benedict. The present imposing brick construction was completed in 1912. A community of about a dozen monks maintains...
, thereby invalidating its authenticity. As a result several other similar cases were brought to light, but none led to conviction. It was widely believed that he had bought himself off with bribes. Stratton's transgressions continued however, and by the late 1280s the complaints reached King Edward I
Edward I of England
Edward I , also known as Edward Longshanks and the Hammer of the Scots, was King of England from 1272 to 1307. The first son of Henry III, Edward was involved early in the political intrigues of his father's reign, which included an outright rebellion by the English barons...
. Edward returned from a prolonged stay in Gascony
Gascony
Gascony is an area of southwest France that was part of the "Province of Guyenne and Gascony" prior to the French Revolution. The region is vaguely defined and the distinction between Guyenne and Gascony is unclear; sometimes they are considered to overlap, and sometimes Gascony is considered a...
in late 1289, and immediately started a purge of corruption in the royal administration, including proceedings against Ralph de Hengham
Ralph de Hengham
Sir Ralph de Hengham was an English justice. His first employer was Giles of Erdington a justice of the Common Bench, whose service he entered as a clerk before 1255...
, Chief Justice
Lord Chief Justice of England and Wales
The Lord Chief Justice of England and Wales is the head of the judiciary and President of the Courts of England and Wales. Historically, he was the second-highest judge of the Courts of England and Wales, after the Lord Chancellor, but that changed as a result of the Constitutional Reform Act 2005,...
of the King's Bench
Court of King's Bench (England)
The Court of King's Bench , formally known as The Court of the King Before the King Himself, was an English court of common law in the English legal system...
. Stratton was relieved of his office of chamberlain, along with his temporal possessions
Temporalities
Temporalities are the secular properties and possessions of the Christian Church. It is most often used to describe those properties that were used to support a bishop or other religious person or establishment. Its opposite description would be the spiritualities.In the Middle Ages, the...
, on 17 January 1290. On his arrest, £
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
12,666 17s
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
7d was found in his possession, a vast sum at the time, equivalent to about £ in present day terms. According to the chronicle of Bartholomew Cotton, a silk-lined chest was also discovered, containing fingernail and toenail clippings, women's pubic hair, and feet of toads and moles. These were considered the ingredients of witchcraft
Witchcraft
Witchcraft, in historical, anthropological, religious, and mythological contexts, is the alleged use of supernatural or magical powers. A witch is a practitioner of witchcraft...
, and the box was sealed up by officials, but Stratton managed to break the seal and throw the contents down a latrine.
His friends procured a pardon for 500 marks
Mark (money)
Mark was a measure of weight mainly for gold and silver, commonly used throughout western Europe and often equivalent to 8 ounces. Considerable variations, however, occurred throughout the Middle Ages Mark (from a merging of three Teutonic/Germanic languages words, Latinized in 9th century...
by 12 June 1291, and Stratton was released. He retained his ecclesiastical rents of £1,000, which still made him a wealthy man. Still, the sum was insignificant compared to his previous holdings in land, which Cotton estimated at £50,000. His eventual downfall, however, resulted from an ongoing conflict with the Cluniac
Cluniac Houses in Britain
In the Middle Ages, from the 11th century, the Christian Cluniac order established a number of religious houses in the kingdoms of England and Scotland....
priory of Bermondsey
Bermondsey Abbey
Bermondsey Abbey was an English Benedictine monastery. Most widely known as an 11th-century foundation, it had a precursor mentioned in the early 8th century, and was centred on what is now Bermondsey Square, the site of Bermondsey Market, Bermondsey in the London Borough of Southwark, southeast...
. Stratton was convicted of forging a grant, and by Midsummer
Midsummer
Midsummer may simply refer to the period of time centered upon the summer solstice, but more often refers to specific European celebrations that accompany the actual solstice, or that take place on a day between June 21 and June 24, and the preceding evening. The exact dates vary between different...
1292 he was imprisoned in the Tower
Tower of London
Her Majesty's Royal Palace and Fortress, more commonly known as the Tower of London, is a historic castle on the north bank of the River Thames in central London, England. It lies within the London Borough of Tower Hamlets, separated from the eastern edge of the City of London by the open space...
. By the end of the year he was condemned, and he is referred to as a felon in the years 1292–94. By 14 August 1294 he was dead, though it is not known whether he was executed or died from natural causes. According to F. M. Powicke
F. M. Powicke
Sir Frederick Maurice Powicke was an English medieval historian. He was a Fellow of Balliol College, Oxford, delivered the Ford Lectures in 1927, and from 1929 was Regius Professor of History at Oxford. He was knighted in 1946....
, "the career of Adam de Stratton deserves our attention as a striking example of the interplay of public and private, local and central, royal and baronial, financial and administrative activities in social life."