corporations became a regular source of supply to the government. Precepts were made on all the Companies alike towards setting the poor to work, towards erecting the Royal Exchange, cleansing the city ditch, projects for discovering new countries, for furnishing naval and military armaments, for men, arms, and ammunition to protect the city, for state and city pageants, for provision of corn and coal, compulsory loans for the government and for the Crown, and various other expedients, were amongst the most prominent by which it was contrived to screw from the Companies their wealth.
Large amounts were also raised by forced loans for the purchase of foreign wheat as a provision of corn for the city. (In a list published in 1545, the Court of Common Council directed a large loan to be raised for this purpose, the Cutlers' proportion being stated in the list at £10.) These precepts were unwillingly complied with, and in 1561 the Mercers caused an application to be made for the return of their money, 'formerly lent.' This was answered by another precept being made.
Besides the arbitrary operation of precepts, both Elizabeth and her immediate successors made it a business of their reigns to influence the selection of officers and the control of the property of the Companies. Instances are recorded of this nature with respect to the Ironmongers, the Merchant Tailors, the Grocers, and other Companies; these attempts were finally resisted and ultimately ceased.
The disastrous effects of the reign of Charles and of the civil wars was much felt by the Livery Companies; precepts were made for large amounts and had to be met by each Liveryman; thus for one loan of £40,000 the Ironmongers' proportion was from £10 to £15 each on those who had fined for Master; £6 18s. 4d. on the office of Warden; from each Liveryman £5; and from each Freeman £3.
