The City Companies of London and Their Good Works - A Record of Their History, Charity and Treasure #233423

After their incorporation by Edward III. And Richard II., the City Companies attained a high degree of importance and magnificence. The highest personages in Church and State were eager to be enrolled as members, and, favoured by royal edicts, they received many privileges and monopolies. It must not be supposed that all the members of each Company were engaged in the trade from which it received its name. The privilege of becoming freemen was granted by patrimony from very early times, so that the sons of a mercer were members of the Mercers' Company, although they did not follow their father's occupation.