Aaron of Lincoln
Encyclopedia
Aaron of Lincoln was an English Jewish financier
(born at Lincoln
, England
, about 1125, died 1186). He is believed to have been the wealthiest man in 12th century Britain; it is estimated that his wealth exceeded that of the King. He is first mentioned in the English pipe-roll of 1166 as creditor of King Henry II
for sums amounting to £616 12s 8d in nine of the English counties. He conducted his business through agents, and sometimes in conjunction with Isaac, fil Joce; by these methods building up what was practically a great banking association that spread throughout England.
He made a specialty of lending money for the purpose of building abbey
s and monasteries. Among those built were the Abbey of St. Albans, Lincoln Minster
, Peterborough Cathedral
, and no less than nine Cistercian abbeys. They were all founded between 1140 and 1152, and at Aaron's death remained indebted to him in no less a sum than 6,400 marks. Some of these debts may, however, have been incurred by the abbeys in order to acquire lands pledged to Aaron. Thus the abbot of Meaux
took over from Aaron lands pledged to the latter in the sum of 1,800 marks; Aaron at the same time promising to commute the debt for a new one of only 1,260 marks, which was paid off by the abbey. After Aaron's death the original deed for 1,800 marks was brought to light, and the king's treasury demanded from the abbey the missing 540 marks. This incident indicates how, on the one hand, Aaron's activity enabled the abbeys to get possession of the lands belonging to the smaller barons, and, on the other, how his death brought the abbeys into the king's power.
Aaron not only advanced money on land, but also on corn, armour, and houses, and in this way acquired an interest in properties scattered through the eastern and southern counties of England. By the time he died, in 1186, he was perhaps the richest man in Britain, his wealth possibly exceeding the king's. Upon his death Henry II seized his property as the escheat
of a Jewish usurer
, and the English crown thus became universal heir to his estate. The actual cash treasure accumulated by Aaron was sent over to France
to assist Henry in his war with Philip Augustus, but the vessel containing it went down on the voyage between Shoreham
and Dieppe. However, the indebtedness of the smaller barons and knights still remained, and fell into the hands of the king to the amount of £15,000, owed by some four hundred and thirty persons distributed over the English counties.
So large was the amount that a separate division of the exchequer
was constituted, entitled "Aaron's Exchequer" (Madox
, History of the Exchequer, folio ed., p. 745), and was continued till at least 1201, that is, fifteen years later, for on the pipe-roll of that year most of the debts to Aaron (about £7,500) are recorded as still outstanding to the king, showing that only half the debts had been paid over by that time, though, on the death of Aaron, the payment of interest ceased automatically, since the king, as a Christian, could not accept usury.
In 1190, Richard de Malbis (Richard Malebisse), a debtor of Aaron of Lincoln, led an attack on the family of Aaron's late agent in York
that resulted in the death of the entire community, some 150 men, women, and children, at York Castle
.
A house sometimes associated with Aaron of Lincoln still stands, and is probably the oldest private stone dwelling in England the date of which can be fixed with precision (before 1186). While the house is associated with a Jewish banker, and historically known as "the Jew's house", it is not known whether the house actually had any association with Aaron of Lincoln. Originally the house had no windows on the ground floor—an omission probably intended to increase the facilities for protection or defense. Pictures of the house are available here.
What makes Aaron significant is that his career illustrates the manner in which the medieval Jewish communities could be organized into a banking association reaching throughout an entire country. Still, the ultimate fate of the wealth thus acquired shows that, in the last resort, the state obtained the chief benefit.
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
(born at Lincoln
Lincoln, Lincolnshire
Lincoln is a cathedral city and county town of Lincolnshire, England.The non-metropolitan district of Lincoln has a population of 85,595; the 2001 census gave the entire area of Lincoln a population of 120,779....
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
, about 1125, died 1186). He is believed to have been the wealthiest man in 12th century Britain; it is estimated that his wealth exceeded that of the King. He is first mentioned in the English pipe-roll of 1166 as creditor of King Henry II
Henry II of England
Henry II ruled as King of England , Count of Anjou, Count of Maine, Duke of Normandy, Duke of Aquitaine, Duke of Gascony, Count of Nantes, Lord of Ireland and, at various times, controlled parts of Wales, Scotland and western France. Henry, the great-grandson of William the Conqueror, was the...
for sums amounting to £616 12s 8d in nine of the English counties. He conducted his business through agents, and sometimes in conjunction with Isaac, fil Joce; by these methods building up what was practically a great banking association that spread throughout England.
He made a specialty of lending money for the purpose of building abbey
Abbey
An abbey is a Catholic monastery or convent, under the authority of an Abbot or an Abbess, who serves as the spiritual father or mother of the community.The term can also refer to an establishment which has long ceased to function as an abbey,...
s and monasteries. Among those built were the Abbey of St. Albans, Lincoln Minster
Lincoln Cathedral
Lincoln Cathedral is a historic Anglican cathedral in Lincoln in England and seat of the Bishop of Lincoln in the Church of England. It was reputedly the tallest building in the world for 249 years . The central spire collapsed in 1549 and was not rebuilt...
, Peterborough Cathedral
Peterborough Cathedral
Peterborough Cathedral, properly the Cathedral Church of St Peter, St Paul and St Andrew – also known as Saint Peter's Cathedral in the United Kingdom – is the seat of the Bishop of Peterborough, dedicated to Saint Peter, Saint Paul and Saint Andrew, whose statues look down from the...
, and no less than nine Cistercian abbeys. They were all founded between 1140 and 1152, and at Aaron's death remained indebted to him in no less a sum than 6,400 marks. Some of these debts may, however, have been incurred by the abbeys in order to acquire lands pledged to Aaron. Thus the abbot of Meaux
Meaux
Meaux is a commune in the Seine-et-Marne department in the Île-de-France region in the metropolitan area of Paris, France. It is located east-northeast from the center of Paris. Meaux is a sub-prefecture of the department and the seat of an arondissement...
took over from Aaron lands pledged to the latter in the sum of 1,800 marks; Aaron at the same time promising to commute the debt for a new one of only 1,260 marks, which was paid off by the abbey. After Aaron's death the original deed for 1,800 marks was brought to light, and the king's treasury demanded from the abbey the missing 540 marks. This incident indicates how, on the one hand, Aaron's activity enabled the abbeys to get possession of the lands belonging to the smaller barons, and, on the other, how his death brought the abbeys into the king's power.
Aaron not only advanced money on land, but also on corn, armour, and houses, and in this way acquired an interest in properties scattered through the eastern and southern counties of England. By the time he died, in 1186, he was perhaps the richest man in Britain, his wealth possibly exceeding the king's. Upon his death Henry II seized his property as the escheat
Escheat
Escheat is a common law doctrine which transfers the property of a person who dies without heirs to the crown or state. It serves to ensure that property is not left in limbo without recognised ownership...
of a Jewish usurer
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...
, and the English crown thus became universal heir to his estate. The actual cash treasure accumulated by Aaron was sent over to France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
to assist Henry in his war with Philip Augustus, but the vessel containing it went down on the voyage between Shoreham
Shoreham-by-Sea
Shoreham-by-Sea is a small town, port and seaside resort in West Sussex, England. Shoreham-by-Sea railway station is located less than a mile from the town centre and London Gatwick Airport is away...
and Dieppe. However, the indebtedness of the smaller barons and knights still remained, and fell into the hands of the king to the amount of £15,000, owed by some four hundred and thirty persons distributed over the English counties.
So large was the amount that a separate division 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...
was constituted, entitled "Aaron's Exchequer" (Madox
Thomas Madox
Thomas Madox was a legal antiquary and historian, known for his publication and discussion of medieval records and charters; and in particular for his History of the Exchequer, tracing the administration and records of that branch of the state from the Norman Conquest to the time of Edward II...
, History of the Exchequer, folio ed., p. 745), and was continued till at least 1201, that is, fifteen years later, for on the pipe-roll of that year most of the debts to Aaron (about £7,500) are recorded as still outstanding to the king, showing that only half the debts had been paid over by that time, though, on the death of Aaron, the payment of interest ceased automatically, since the king, as a Christian, could not accept usury.
In 1190, Richard de Malbis (Richard Malebisse), a debtor of Aaron of Lincoln, led an attack on the family of Aaron's late agent in York
York
York is a walled city, situated at the confluence of the Rivers Ouse and Foss in North Yorkshire, England. The city has a rich heritage and has provided the backdrop to major political events throughout much of its two millennia of existence...
that resulted in the death of the entire community, some 150 men, women, and children, at York Castle
York Castle
York Castle in the city of York, England, is a fortified complex comprising, over the last nine centuries, a sequence of castles, prisons, law courts and other buildings on the south side of the River Foss. The now-ruinous keep of the medieval Norman castle is sometimes referred to as Clifford's...
.
A house sometimes associated with Aaron of Lincoln still stands, and is probably the oldest private stone dwelling in England the date of which can be fixed with precision (before 1186). While the house is associated with a Jewish banker, and historically known as "the Jew's house", it is not known whether the house actually had any association with Aaron of Lincoln. Originally the house had no windows on the ground floor—an omission probably intended to increase the facilities for protection or defense. Pictures of the house are available here.
What makes Aaron significant is that his career illustrates the manner in which the medieval Jewish communities could be organized into a banking association reaching throughout an entire country. Still, the ultimate fate of the wealth thus acquired shows that, in the last resort, the state obtained the chief benefit.