Somersham acquired its first charter under Richard I, a King who (contrary to what has been suggested elsewhere) we know definitely did NOT visit the village. However the Bishop of Ely, William Longchamps certainly did and as he was Lord Chancellor for much of the early part of Richards reign, ruling the country in the King's absence absence, it was through his direct influence that Somersham acquired its first charter.

This was not an act of generosity by the Bishop for his tenants. As the village crops increased and people had more than they needed, they wanted the chance to trade their surplus. Without a market the Bishop was the only man in the manor who could have bought the surpluses, an as his own farming enterprises also had surpluses, he had no need of the peasants grain. However by setting up a market and encouraging traders in from outside, he offered an opportunity for his tenant farmers to trade and he could take a percentage of all the goods that were bought and sold there.

This charter was lost until recently and the detail below is taken from The Charter Rolls of 1199 when it was reaffirmed in the first year of King John's reign.