The Old English words below are from the original will of the founder of the school, John Harrison junior. Born 22nd August 1568, died 24th July 1619. It is a partial reproduction of two pages from the original will in the Principal Probate Registry.
 

Item: I give and bequeath unto the said Master and Wardens and Assistants of the said Company or fraternity five hundred pounds in money to the end and intent that they or their successors, Master and Wardens and Assistants of the said Company or fraternity for the time being, shall erect and build in Great Crosby in the parish of Shefton in the County of Lancaster, where my father was born, within convenient time after my decease one free grammer school for the teaching, educating and instructing of children and youth in the grammer and rules of learning for ever, which shall be called by the name of the Merchant Taylors' School, founded at the charge of John Harrison. And I will that the said School shall have continuance for ever of one Master and one Usher. And my will and meaning is that the said Master, Wardens and Assistants of the said fraternity for the time being and their successors shall be Governors of the said free school and shall from time to time for ever nominate and appoint one sufficient discreet learned man to be Usher of the said School.

Item: For the maintenance and continuance of the said school and of the said Master and Usher and for performance of the other charitable payments hereafter mentioned, I do give will and devise unto the said Master and Wardens and Assistants and their successors for ever all my messuages houses grounds and tenements situate in Crane Court in the parish of St. Augustine aforesaid. And all my four houses on the street side which lieth in the parish of St. Augustine aforesaid in the street called the Old Change in the Ward of Farrington within the City of London and all those my two houses lying in St. Swithin's Lane near London Stone with their and every of their appurtenances and the reversion and reversions thereof. To the end and intent that the said Master and Wardens and Assistants of the said fraternity for the time being and their successors for ever shall with the rents issues and profits of the said messuages houses and tenements yearly for ever pay unto the Master of the said School for his stipend and wages thirty pounds per annum and to the Usher of the said School for his stipend and wages twenty pounds per annum. And that the said Master, Wardens and Assistants and their successors shall yearly for ever out of the said rents and profits pay unto and amongst the poor for the time being dwelling in Liam Alley aforesaid by and with the consent of the chiefest of the parishioners of the parish of St. Augustine aforesaid twenty pounds per annum and that the remainder of the said rents and profits of the said tenements, reserving five pounds per annum for repairing of the said School, shall be bestowed to and amongst the poor Brethren of the said Company as far as it will extend by twenty shillings a quarter apiece.