It was created out of the common law jurisdiction of the Exchequer of Pleas, with splits forming during the 1190s and the division becoming formal by the beginning of the 13th century.
[1] The court became a key part of the Westminster courts, along with the Exchequer of Pleas (qualified to hear cases involving revenue owed to the King) and the Court of King's Bench (authorised to hear cases involving the King), but with the Writ of Quominus and the Statute of Westminster, both tried to extend their jurisdiction into the realm of common pleas.
In 1828 Henry Brougham, a Member of Parliament, complained in Parliament that as long as there were three courts unevenness was inevitable, saying that "It is not in the power of the courts, even if all were monopolies and other restrictions done away, to distribute business equally, as long as suitors are left free to choose their own tribunal", and that there would always be a favourite court, which would therefore attract the best lawyers and judges and entrench its position.
Eventually the government created a High Court of Justice under Lord Coleridge by an Order in Council of 16 December 1880.
[5] Justices received the same remuneration as judges of the Exchequer of Pleas and Court of King's Bench; £1,000 in 1660, increased to £2,000 in 1759 and £4,000 in 1809.