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The charity was established by Rice Powell in 1686, and gave £20 yearly for apprenticing children native to the town of Brecon and the parishes of St John the Evangelist, St David and Aberysgyr to a handicraft trade within the town of Brecon; £10 yearly to raise a fund to set up the said apprentices in their trade; £20 yearly to apprentice children native to Hay and Builth and the parishes of Llanigon, Llaneleu, Talgarth, Llanafan Fawr in Breconshire, and Llansanffraid-yn-Elfael, Cregrina, Llanelwedd and Betws Diserth in Radnorshire; £10 yearly to raise a fund for the same; £24 yearly to Jesus College to be paid to two poor scholars native of Brecon and Radnorshire; £5 yearly to the churchwardens and overseers of Boughrood in Radnorshire to place out a child native to the parish; and £11 to a schoolmaster at Brecon.

Charles Morgan and John Morgan, esqs, were trustees of the charity, which may explain how the volume comes to be among the Tredegar papers.

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