Coventry is well known for the legendary 11th century exploits of Lady Godiva who rode through the city naked on horseback in protest at high taxes being levied on the cityfolk by her husband Leofric, Earl of Mercia. The residents of the city were commanded to look away as she rode, but one man did not and was allegedly struck blind. He became known as Peeping Tom thus originating a new idiom, or metonym, in English. There is a statue of her in the city center, which for 18 years had been underneath a Cathedral Lanes shopping center canopy, removed in October 2008.

Lady Godiva took pity on the people of Coventry, who were suffering grievously under her husband's oppressive taxation. Lady Godiva appealed again and again to her husband, who obstinately refused to remit the tolls. At last, weary of her entreaties, he said he would grant her request if she would strip naked and ride on a horse through the streets of the town. Lady Godiva took him at his word, and after issuing a proclamation that all persons should stay indoors and shut their windows, she rode through the town, clothed only in her long hair.

Lady Godiva's "nakedness" might refer to her riding through the streets stripped of her jewelery, the trademark of her upper class rank. However, these attempts to reconcile known facts with legend are both weak; in the era of the earliest accounts, the word "naked" is only known to mean "without any clothing whatsoever".

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