Page:A History of Horncastle from the Earliest Period to the Present Time.djvu/111

92 In the 13th year of her reign (1571), by Letters Patent dated at Westminster, June 25, Elizabeth granted to her "well-beloved and faithful counsellor, and subject, Edward Fynes, Knight of the most noble Order of the Garter, Lord Clinton and Saye, High Admiral of England," that, at his prayer, "a Grammar School should be established in the town of Horncastle, for the good education of boys and youths, living there, and about the neighbouring parts, habitants and comerants." This was to be called "The Free Grammar School of Queen Elizabeth, in the Town and Soke of Horncastle of the foundation of (the said) Edward, Lord Clynton," &c., "to continue for ever." It was to consist of "a Master and Sub-Master, or Usher," and the "lands, tenements, revenues, reversions, and other hereditaments, for the support of the school, were granted, assigned, and appointed," for their better mangement, "to 10 discreet and honest men, who (should) be styled Governors."

The first Governors appointed were Clement Monk, clerk; John Smith, clerk; John Sackeverill, gent.; Thomas Litter, gent.; Geo. Hargrave, gent.; Thos. Raithbecke, yeoman; John Neale, yeoman; Thos. Hamerton, yeoman; Willm. Ward, yeoman; Willm. Harrison, yeoman. They were constituted "a body corporate," having a "common seal, to hold, to manage the revenues of the school, and empowered to spend, and invest, the income at their discretion," to appoint the teachers, and successors in the governing body, as vacancies should, by death, occur.

The property of the school, either from the original, or later, endowments, consists of lands, tenements, ground and quit rents, in Horncastle, or in the Wildmore Fen allotment of the same, land and tenement in Hemingby, lands in Winthorpe, Huttoft, Sutton, and in Thornton a payment of £12 a year in lieu of former land, with certain moneys invested in Government Consols and Indian Stock.

The rental of the school property has varied at various periods. At the time of the civil war, when the neighbourhood was more or less in a state of anarchy, there is no record, for some years, of the Governors having even met to dispense payments; and the Head Master's salary was only £10. In 1735 it amounted to £42, and that of the Usher to £21; but in 1753 there was a reduction to £30 for the Head Master, and £15 to the Usher, owing to money having to be "borrowed for the exigenceys of the school." In 1786 the income of the school rose to £529; the highest point which it seems ever to have attained was £877, in 1854. In that year the Head Master's stipend is not specified, but two years later it was £235, with capitation fees amounting to £251 odd.