The original idea, therefore, appears to be, not so much a staple or fixed place, as a post or raised platform approached by steps, and arranged for a convenient sale of goods.
In exchange for its cooperation in the payment of taxes, the company was granted a total monopoly on wool exports from England.
As domestic cloth production increased, raw wool exports were less important, diminishing the power of the Merchants.
In 1558, with the loss of Calais to the French, the staple was transferred to Bruges where the Merchant Staplers continued to enjoy their monopoly on exports.
The Company still exists, based in Yorkshire, and makes charitable contributions through bursaries and awards to charities involved in the wool business such as the Nuffield Trust, and to educational travel.