The tablet preservation is remarkable, as wet mud of the Walbrook, a river that dominated the area in the Roman period but is now buried, stopped oxygen from decaying the wood.
Classicist and cursive Latin expert Roger Tomlin deciphered 87 tablets. The scholar was able to read the text even though the wax was long gone since the writing occasionally went through the wax to inscribe the wood.
"I am so lucky to be the first to read them again, after more than 19 centuries, and to imagine what these people were like, who founded the new city of London," Tomlin said.
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The brief written accounts offer a rare insight into London during the first 40 years of its existence.
The tablets reveal the names of nearly 100 people, from a barrel-maker, brewer and judge, to soldiers, slaves and freedmen, showing the city was first inhabited by businessmen and soldiers, most likely from Gaul and the Rhineland.
One tablet features the earliest reference to London, predating Tacitus' mention of the city by 50 years.
Dated AD 65/70-80, it reads "Londinio Mogontio," which translates to In London, to Mogontius (a Celtic personal name).
Another tablet was archaeologically dated to AD 43-53, the first decade of Roman rule in Britain.
Its translation reads "...because they are boasting through the whole market that you have lent them money. Therefore I ask you in your own interest not to appear shabby..."
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Intriguingly, a tablet shows letters of the alphabet: "ABCDIIFGHIKLMNOPQRST"
Experts believe it represents the efforts of someone practicing writing.
"Perhaps it is the first evidence for a school in Britain," MOLA said.
The tablets, along other artifacts from the excavation, will be displayed within the new Bloomberg building in autumn 2017.
Meanwhile, in-depth research into the hand-written texts has been published in a new book from MOLA, Roman London's first voices: writing tablets from the Bloomberg excavations, 2010-14.