his charge. It also yearly arranged the
watch and dealt with risks of fire. It was divided into wards,
each governed by an alderman who presided over the wardmote, and
represented his ward at the folkmote. Each guild became a ward.
The chief alderman was the portreeve. London paid one-eighth of
all the taxes of England.

Later in the towns, merchant guilds grew out of charity
associations whose members were bound by oath to each other and
got together for a guild feast every month. Some traders of these
merchant guilds became so prosperous that they became landholders.
Many market places were dominated by a merchant guild, which had a
monopoly of the local trade. In the great mercantile towns all the
land and houses would be held by merchants and their dependents,
all freeholders were connected with a trade, and everyone who had
a claim on public office or magistry would be a member of the
guild. The merchant guild could admit into their guild country
villeins, who became freemen if unclaimed by their lords for a
year and a day. Every merchant who had made three long voyages on
his own behalf and at his own cost ranked as a thegn. There were
also some craft guilds composed of handicraftsmen or artisans.
Escaped bonded agricultural workers, poor people, and traders
without land migrated to towns to live, but were not citizens.

Towns were largely self-sufficient, but salt and iron came from a
distance. The King's established in every shire at least one town
with a market place where purchases would be witnessed and a mint
where reliable money was coined by a moneyer, who put his name on
his coins. There were eight moneyers in London. Coins were issued
to be of value for only a couple of years. Then one had to exchange
them for newly issued ones at a rate of about 10 old for 8 or 9 new.
The difference constituted a tax. Roughly 10% of the people lived
in towns. Some took surnames such as Tanner, Weaver, or Carpenter.
Some had affectionate or derisive nicknames such as clear-hand,
fresh friend, soft bread, foul beard, money taker, or penny purse.
Craftsmen in the 1000s included goldsmiths, embroiderers,
illuminators of manuscripts, and armorers.

Edward the Confessor, named such for his piety, was a king of 24
years who was widely respected for his intelligence,
resourcefulness, good judgment, and wisdom. His educated Queen
Edith, whom he relied on for advice and cheerful courage, was a
stabilizing influence on him.