A guild of cutlers was established during the reign of Edward III (1327-77), led by a warden. In November 1481, Edward IV, at the behest of his mother, Cecily, who held the manor, issued letters patent to license some residents of Thaxted "to found a fraternity or perpetual gild", empowered to regulate itself and own land. A deed of foundation of the "fraternity or perpetual guild of St. John the Baptist at Thaxted" dates from 1507. The famous Guildhall is supposed to have been built by the cutlers' guild. However, it seems there was, at one time, more than one guild in existence in the town - and more than one guild hall: there is some evidence for a guild or fraternity dedicated to the Holy Rood, and the Ordinance Survey map of 1876 shows the site of a guild hall in Vicarage Mead, off Newbiggen Street. An historical account of the town in 1831 states that the "mote hall" extant guildhall was being used as a school and the "guild hall" was the town workhouse.