Oxford's chancellor, Archbishop William Laud, consolidated the legal status of the university's printing in the 1630s. Laud envisaged a unified press of world repute. Oxford would establish it on university property, govern its operations, employ its staff, determine its printed work, and benefit from its proceeds. To that end, he petitioned Charles I for rights that would enable Oxford to compete with the Stationers' Company and the King's Printer, and obtained a succession of royal grants to aid it. These were brought together in Oxford's "Great Charter" in 1636, which gave the university the right to print "all manner of books". Laud also obtained the "privilege" from the Crown of printing the King James or Authorized Version of Scripture at Oxford. This "privilege" created substantial returns in the next 250 years, although initially it was held in abeyance. The Stationers' Company was deeply alarmed by the threat to its trade and lost little time in establishing a "Covenant of Forbearance" with Oxford. Under this, the Stationers paid an annual rent for the university not to exercise its full printing rights – money Oxford used to purchase new printing equipment for smaller purposes.