In the thirteenth century there was not the same choice of investments as to-day. The best one could do was to lend out one’s money to the nobles and king of the Realm, or to purchase houses therewith. The former security corresponded to, but was not so secure as, the consolidated funds of a later age. Nor was house property entirely safe. For in an age when communication between different parts of the country was slow and insecure, it was not of choice, but of necessity, that one bought house property in one’s own city; since farther afield and in places wide apart one lacked trusty agents to collect one’s rents; but in a single city a plague might in one year lay empty half the houses, and so forfeit to the owners their yearly monies.
In laying out William of Durham’s bequest, the University had recourse to both these kinds of security. As early as the year 1253, a house was bought for thirty-six marks from the priors and brethren of the hospital of Brackle; perhaps for the reception of William of Durham’s earliest scholars. This house stood in the angle between School Street and St. Mildred’s Lane (which to-day is Brazenose Lane), and corresponded therefore with the north-east corner of the present Brazenose College. Two years later, in 1255, was purchased from the priors of Sherburn, a house in the High Street, standing opposite the lodge of the present college, where now is Mr. Thornton’s book-shop. For this piece of property the University paid, out of William of Durham’s money, forty-eight marks down.
This house, the second purchase made out of the founder’s bequest, after belonging to the College for upwards of six hundred years, was lately sold to Magdalen College instead of being exchanged as it should have been, if it was to be alienated at all, with a house belonging to Queen’s College, numbered 85 on the opposite side of the street. And at the same time, all properties and tenements, not already belonging to us, except the aforesaid No. 85, intervening between Logic Lane and the New Examination Schools, were purchased, to give our College the faculty of some day, if need be, extending itself on that side.
The third house bought out of the same bequest adjoined (to the south) the former of the two already mentioned, and fronting on School Street, was called as early as A.D. 1279, Brazen-Nose Hall. It cost £55 6s. 8d. sterling, and on its site stands to-day Brazen-nose College gate and chapel. The purchase was completed in 1262. The last of the early purchases made by the University for the College consisted of two houses east of Logic Lane on the south side of the High Street. (The old Saracen’s Head Inn on the same side of Logic Lane only came to the College in the last century by the bequest of Dr. John Browne, who became master in 1744.) These two houses paid a Quit Rent of fifteen shillings, for which the University gave, A.D. 1270, seven pounds of William of Durham’s money, proving, as Mr. Smith notes, that in the thirteenth century houses were purchased in Oxford at ten years’ purchase, so that you received eleven per cent. interest on your money.
The rents of all these houses, so we learn from the Inquisition of the year 1280 already mentioned, amounted to eighteen marks. As to the rest of the money bequeathed, the Masters of Arts appointed by the University in 1280 to enquire found, “That the University needing it for itself, and other great men of the Land that had recourse to the University; the rest of the money, to wit, one hundred Pounds and ten Marks, had been made use of, partly for its own necessary occasions, and partly lent to other persons, of which money nothing at all is yet restored.”
The barons to whom the University thus lent money had long been at strife with King Henry for his extortions, and in May of 1264 won the Battle of Lewes against him. With them the University took side against the king, so far at least as to advance them money out of William of Durham’s chest. It is not certain—though it seems probable—that some few scholars were as early as 1253 invited by the University to live together, as beneficiaries of William of Durham, in the Hall which was in that year purchased out of his bequest. If it be asked how were they supported, it may be answered: with the interest paid by the nobles upon the hundred pounds lent to them; for, since the capital sum was afterwards repaid, it is fair to suppose that the interest was also got in year by year from the first. Although the University drew up no statutes for William of Durham’s scholars till the year 1280, yet his very will—which is now lost—may have served as a prescription ruling their way of life, even as it was made the basis of those statutes of 1280. Perhaps, however, his scholars were scattered over the different halls until 1280, when, after the pattern of the nephews and scholars of Walter de Merton, they were gathered under a single roof for the advancement of their learning and improvement of their discipline. Even if they lived apart, the title of college can hardly be denied to them, for—to quote Mr. William Smith—“taking it for granted and beyond dispute, that William of Durham dyed A.D. 1249, and that several purchases were bought with his money shortly after his death, as the deeds themselves testifie; all the doubt that can afterwards follow is, whether William of Durham’s Donation to ten, eleven, or twelve masters or scholars, were sufficient to erect them into a society? and whether that society could properly be called a college?” And the same writer adds that a college “signifies not a building made of brick or stone, adorned with gates, towers, and quadrangles; but a company, or society admitted into a body, and enjoying the same or like privileges one with another.” Such was a college in the old Roman sense.
We will then leave it to the reader to decide whether University College is or is not the earliest college in Europe, even though its foundation by King Alfred is mythical, and will pass on to view the statutes made in the year 1280. In that year at least the Masters delegated by the University “to enquire and order those things which had relation to the Testament of Master William of Durham,” ordained that “The Chancellor with some Masters in Divinity, by their advice, shall call other masters of other Faculties; and these masters with the Chancellor, bound by the Faith they owe to the University, shall chuse out of all who shall offer themselves to live of the said rents, four Masters, whom in their consciences they shall think most fit to advance, or profit in the Holy Church, who otherwise have not to live handsomely without it in the State of Masters of Arts. … The same manner of Election shall be for the future, except only that those four that shall be maintained out of that charity shall be called to the election, of which four one at least shall be a Priest.
“These four Masters shall each receive for his salary fifty shillings sterling[4] yearly, out of the Rents bought. …
“The aforesaid four masters, living together, shall study Divinity; and with this also may hear the Decretum and Decretalls, if they shall think fit; who, as to their manner of living and learning, shall behave themselves as by some fit and expert persons, deputed by the Chancellor, shall be ordered. But if it shall so happen, that any ought to be removed from the said allowance, or office, the Chancellor and Masters of Divinity shall have Power to do it.”
By the same Statutes a procurator or Bursar was appointed to take care of rents already bought and procure the buying of other rents. This Bursar was to receive fifty-five shillings instead of fifty. He was to have one key of William of Durham’s chest, the Chancellor another, and a person appointed by the University Proctors the third.
Three points are evident from these statutes: firstly, that in its inception the College of William of Durham was entirely the care of the University, which thus held the position of Visitor. Secondly, theology was to be the chief, if not sole study of the beneficiaries. Perhaps the founder viewed with jealousy the study of Roman law, which was beginning to engross some of the best minds of the age. Thirdly, only Masters were admissible as Fellows. It was the custom at the time to have graduated in Arts before proceeding to teach Divinity.
After a lapse of twelve years, A.D. 1292, at the Procurement of the Executors of the Venerable Mr. William of Durham, who were, it seems, still living, the University made new statutes for the College. In these new statutes we hear for the first time of a Master of the College, of commoners, and of a College library. The Senior Fellow was to govern the Juniors, and get half a mark yearly for his diligence therein. Thus the headship of the College went at first by succession, and not until 1332 by election; after which date the master was required to be cæteris paribus proxime Dunelmiam oriundus, or at least of northern extraction.
The first alien to the College who was elected Master was