The fishmongers guild, one of the earliest guilds, was established in the City of London by a Royal Charter granted by Edward I shortly after he became king in 1272. Partnership with foreigners was forbidden and the sale of fish was tightly controlled to ensure freshness and restrain profit, which was limited to one penny in the shilling. Nevertheless, the guild grew rich and, after Edward's victory over the Scots, was able to make a great show, including one thousand mounted knights.