1 John and William Shakespeare The Sources and Acquisition of their Wealth in two volumes Volume 1 of 2 Thesis Submitted by David Fallow to the University of Exeter as a thesis for the degree of Doctor of Philosophy by Research in Drama July 2011 This thesis is available for Library use on the understanding that it is copyright material and that no quotation from the thesis may be published without proper acknowledgement. I certify that all material in this thesis which is not my own work has been identified and that no material has previously been submitted and approved for the award of a degree by this or any other University. (signature) ......................................................................................... David Fallow 2 Abstract This thesis explores the proposition that to comprehend William Shakespeare better in his social and creative contexts one has to understand both his and his family’s money - where it came from and where it went. The Shakespearian mythos1 posits that John Shakespeare came penniless to Stratford where he did well in business before losing his wealth. Thereafter, his son William went to London, wrote plays which made him rich and then made a number of investments in Stratford. Among the various errors in this statement there is one that stands out - the “rich” part. It is not simply the fact that he made the investments - his house New Place, land, tithes etc. are well documented - it is when he made them that is of significance. The bulk of the Shakespeare family investments were made before William became part owner of the Globe or Blackfriars theatres. This evaluation has focused on the tangible data from the period, chiefly legal and financial records. Its conclusions challenge many pre-existing notions of how money flowed into the Early Modern Theatre and into William Shakespeare’s pockets. The fable is that young Will Shakespeare, like the pantomime Dick Whittington, left his poverty-stricken family, walked to London and won his fortune. In neither case was this true. The Early Modern theatre in London was brutally commercial and the aim was the acquisition of wealth more than the pursuit of art. For William Shakespeare, Pope put it neatly Shakespeare (whom you and every playhouse bill Style the divine! the matchless! what you will), For gain, not glory, wing’d his roving flight, And grew immortal in his own despite.2 This thesis provides the evidence to dismiss many of the fantasies that surround William and John Shakespeare’s by replacing these with a clear financial picture of the sources and acquisition of their wealth. 1 mythos, A body of interconnected myths or stories, esp. those belonging to a … cultural tradition. OED. 2 Alexander Pope, Imitations of Horace (London: T. Cooper, 1737). I. ii. i. 69 3 Acknowledgements I am indebted to those who have supported, helped and inspired me in the preparation of this thesis. Firstly, to two great teachers who encouraged me to investigate the life and work of William Shakespeare - the late Mr. Robert B. Christie, English Master at Hutchesons’ School in Glasgow and Professor Peter Thomson of Exeter University. Secondly, to Professors Mick Mangan and Chris McCullough, both of Exeter University: Professor Mangan for being my adviser on this academic journey and Professor McCullough for sharing his sheer sense of fun along the way. Thanks are also due to Professor Graham Ley of Exeter University who stepped into Dr. Haas’s role as my co-advisor. Thirdly, to Kate Janman who bravely assisted in the proof reading of the final draft. Mairi Macdonald of the Shakespeare Birthplace Trust for her excellent advice. Mark Hubbard for his comments on the financial tables. Peter Borschberg of the National University of Singapore for his timely views on the Madre de Dios. Sarah LeFanu, Royal Literary Fund Fellow, for her assistance. Lastly, to my wife and daughter who have always believed in me. This thesis is dedicated to the memory of the late Dr. Birgit Haas of Exeter University who, all too briefly, advised on this thesis. 4 Table of Contents Notes, Abbreviations and Defined Terms .....................................................................8 Introduction .................................................................................................................10 The Structure of this Thesis ....................................................................................16 The Body of the Thesis ...........................................................................................17 Chapter 1 - AN IMPERTINENT QUESTION...........................................................19 Placing this Thesis, Placing this Research ..............................................................21 The Benefit and Challenge of a Multi-Disciplinary Approach ...............................25 Chapter 2 – MONEY AND PERFORMANCE ..........................................................29 The Limitations of Certain Approaches to Theatre Finance .......................................29 The Nature and Function of Banks .........................................................................32 The Cost of Money..................................................................................................33 Factors Affecting Theatrical Earnings ........................................................................35 1. Theatre Closures..................................................................................................36 2. Alternative Sources of Revenue..........................................................................40 Alternative Sources of Revenue - Summary ...........................................................60 3. Certain Expenses of Playing ...............................................................................60 Expenses of Playing -The Rose Theatre .................................................................68 Expenses of Playing - Summary .............................................................................71 Usury ...........................................................................................................................72 Capitalists, Bankers or Usurers? .............................................................................75 Tax...............................................................................................................................79 Background to Early Modern Taxation in England ................................................79 Tax and Geese .........................................................................................................81 Analyzing the Takings ................................................................................................88 William Shakespeare's Theatrical Earnings ................................................................94 Portfolio Analysis, Income and Expenditure ..........................................................97 Income.....................................................................................................................98 Chapter 3 - JOHN SHAKESPEARE & STRATFORD-UPON-AVON.................105 Building a Theory..................................................................................................106 This Chapter ..........................................................................................................108 The Corporation ........................................................................................................110 The Very Civil Officer, 1556-79...........................................................................117 John Shakespeare, Businessman ...............................................................................141 The Law concerning Interest, Tax and Trade Credit ............................................147 Legal Records........................................................................................................149 The Seeming Fall from Financial Grace ...............................................................153 Making their marks ...................................................................................................171 Illiteracy ................................................................................................................176 Stratford’s “Middling Sort”.......................................................................................179 John Shakespeare – A Summary...........................................................................184 Chapter 4 – WILLIAM SHAKESPEARE IN LONDON........................................185 The Median Playwright.............................................................................................185 William Shakespeare and Tax...................................................................................191 Learning Financial Manipulation ..........................................................................193 William, The Artful (Tax) Dodger........................................................................196 Chapter 5 – IN SEARCH OF THE PLAYWRIGHT ..............................................202 5 The Criminal Theatre of the South Bank ..................................................................206 The Business of Organizing Crime .......................................................................206 Godfathers of Bankside.............................................................................................208 Francis Langley and William Gardiner.................................................................209