Property Investment by Canterbury Cathedral Priory 1250–1400

Abstract

Henry de Eastry, prior of Christ Church, Canterbury from 1285 to 1331, has long been regarded as primarily responsible for the priory's financial health. On his accession, the monastery was deeply in debt. Eastry, by his reorganization of the administration and his far-seeing policies of adding to the convent's property and exploiting these resources to the fullest, was able to raise the priory “from a state of insolvency to what was probably the highest level of productivity in its history.” One reason that Eastry enjoys such an excellent reputation is that he left behind him several extremely significant records, including a register of his writs and a memorandum book in which he set forth his achievements with elaborate detail. Yet some of his predecessors and successors followed policies that were very similar to those pursued by Eastry. It is time to re-examine Eastry's role in the priory's history and to determine whether his contribution was indeed as outstanding as has been hitherto assumed.The area that most lends itself to this investigation is that of property investment. R.A.L. Smith, in his pioneering study of the convent's administration only touched on this aspect. He stated that during Eastry's priorate the monks “made astute investments in land,” but gave few examples. Moreover he never tackled the problem of how the priory's activities were affected by the statute of mortmain of 1279, which, in theory at least, severely restricted property accumulation on the part of ecclesiastical institutions. Nor did he consider the question of whether the tremendous fall in population after 1348 hindered or facilitated the acquisition of lands and rents. A detailed analysis, over a fairly long period, of the policies pursued by the priory with regard to investment in land, rent, and building, can not only point out the contribution made by Eastry, but also shed light on the more general questions of the economic impact of the Black Death and the effectiveness of the statute of mortmain.