House Malredh

House Malredh (S. “Scattergold”) is one of the exalted Dúnadan families of Anórien.

According to oral tradition, when the Faithful warriors of the Last Alliance scaled the walls of Barad-dûr, Cambal Malthen, bannermen of Anárion, was the first man over the top. The reward for his bravery, given into his eager hands, was five small nuggets of gold and a fiery stone. In proof of their ancient and heroic origins, the Malredh had only to point to the sigil of their house, and the yearly celebration of Mettarë in Minas Anor, where ‘sacred fire’ was distributed to the Faithful for their Solstice candles, struck from the stone that Cambal Malthen had brought back to the city. The cart bearing the fire was drawn by oxen and driven by members of the family. The windows and courtyard columns of the Malredh manor, built in the late 1260s and early 1270s, would be fretted with symbolic devices, such as lanterns or vases giving off sacred fire, and winged crowns signifying contacts with the Dúnadan monarch.

The Malredh are happy to trade on this tale of their family origins, and no doubt believe it themselves, although the legend about the gold nuggets and holy fire did not get started until the eleventh century. Some of their early ancestors had almost certainly come from Númenor with Anárion. By the middle of the twelft century they were an outstanding political house and their banners were already prominent on Winter Solstice. Antiquity lent them certain air. The family had long been involved in banking at a high level, maintaining their status as a respectably upper-class and notably wealthy family who derived their money from olive oil and land holdings in the Thinbar region towards the White Mountains, just north of Minas Anor. First to enter banking on his own was Erucolindo Malredh. He was originally a junior partner and general manager of a bank in Osgiliath, which treasured the royal tribute brought from Harad.

The Bank of Malredh was founded on March 25, 952, when Erucolindo separated his bank from his patron’s, and moved his house from Osgiliath to Minas Anor. He raised 10,000 gold crowns and started his own banking operations. When he died in 1029, his personal fortune was worth around 180,000 crowns. The Bank of Malredh traded in brocade cloth, invested in profitable mining operations and became foremost supporter and financier of the Royal House. During the reign of Narmacil I (1226-1294), Umbarto Malredh was appointed Steward of the Realm, and the House of Malredh held several key positions in the government of Gondor. Umbarto Malredh was made hereditary count of Thinbar in 1264 and baron of Obel Amrûn in 1288. The Bank had several branches operating in Calmírië, Pelargir, Osgiliath, Ramlond, Gobel Ancalimon, Tharbad, and Fornost Erain. The Malredh bank in Gobel Ancalimon did especially well in loaning to the local court and, like the Anorian branch, selling luxuries such as jewels and silk cloth. By the 15th century, the Bank of Malredh was most prosperous and most respected institution in Gondor.

Malredh family fortunes encountered a setback when they lost all their southern assets in the Kin-Strife. Depletion of their silver mines in Lamedon further exacerbated their woes. Nonetheless, House Malredh continued to issue loans to the Gondorian Crown, until state debt to House Malredh rose to excruciating 700,000 Gold Crowns. King Tarondor choose to default all debts, which bankcrupted the Malredhs and led to closing of their main bank in Minas Anor. The family lost all their positions and influence in the Royal Court and Small Council to House Caranthan, and withdrew from political life to their estates in Thinbar.