The clerk moved one of the chequers. The court proceeded imperviously while the sheriff, sitting at one end of the table, nodded nervously. After the throne, this table, known as the Great Exchequer, was the most important piece of furniture in the kingdom. It was a curious thing to look at. 10 feet long and 5 feet wide, it had a ledge four fingers high running round its edge, giving it the appearance of a gaming table. Covering a surface was a black cloth marked into squares by white lines that gave the court its name.
Depending on the square it occupied, a chequer might represent £1000, or £10, or even the humble silver penny that was a common labour’s daily wage. The chequered cloth was, therefore, nothing more than a kind of abacus, a primitive manual computer on which the revenues and expenses of the kingdom could be reckoned and reviewed.
Every year, at the spring and autumn feasts of Easter and Michaelmas, the sheriffs of the counties of England came to the Exchequer to render their accounts. First, in an outer chamber, the sacks of silver pennies they brought were tested for quality and counted. If good, 20 dozen pennies weighed a pound. Since the Normans called the English penny an Esterlin, which was transcribed into Latin and became sterlingus, a unit of account had become known as pound sterling.