Medieval economy
Markets were held on a fixed day each week and fairs on fixed date(s) each year. To obtain either, a manorial lord had to apply for a royal charter. The right to hold a market each Wednesday was granted by King Edward III to Alice de Lisle, sister of Lord Tyes and widow of Warin de Lisle, on 25 April 1332; a fair, lasting seven days at the Feast of St Peter ad Vincula on 1 August; and another fair of seven days on 24 August at Mousehole for the feast of St Bartholomew – later to be held in Penzance. The settlement was growing in importance as the weekly Wednesday market was confirmed by King Henry IV and three further fairs, each of two days, was granted on 8 April 1404. These were at the Feast of the Conception of Virgin Mary (8 December), St Peter in Cathedra (22 February) and the Nativity of the Virgin Mary (8 September).
It is not known when a quay was built at Penzance as there is no grant or licence but an Inquest as to the Manor of Alverton in 1322 records eight
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