The text of Magna Carta of 1215 bears many traces of haste, and is the product of much bargaining,” the British Library website surprisingly states to individuals examining this iconic document for the first time. Yet Magna Carta, which turns 800 today, richly deserves being called, in the words of British Member of the European Parliament Daniel Hannan, the “most important bargain in the history of the human race.”
Driven to rebellion by abuses of royal taxation power, nobles imposed the Magna Carta (“Great Charter” in Latin) upon England’s King John at Runnymede on the Thames on June 15, 1215. The name merely reflects the document’s length, not any contemporary understanding that Magna Carta would become the “greatest constitutional document of all time,” as described by Britain’s most renowned jurist, Lord Denning. “Most of its clauses deal with specific, and often long-standing, grievances rather than with general principles of law,” the British Library notes. “Some of the grievances are clear; others can be understood only in the context of the feudal society in which they arose. The precise meaning of a few clauses is still uncertain.” Certain Magna Carta articles, for example, regulate borrowing from Jews, reflecting the money-lending role this people played in a medieval society that forbade Christians from earning interest.