Introduction. xxiii 



Without, however, attempting. In Imitation of 

 more competent writers, who with more or less 

 satisfaction to themselves have endeavoured by 

 various methods of historical evolution to 

 discover the precise origin of the English Trade 

 Guilds — a task obviously not strictly within the 

 legitimate province of this essay — it may suffice 

 here to say that the term " Guild," as has been 

 clearly shown by Herbert and other writers, is a 

 derivation of the Anglo-Saxon '' glldan," to pay, 

 a word possessing close affinities In other northern 

 dialects, and signifying a society or association, 

 supported by individual contribution. The basis 

 of the early English trade guild was the obser- 

 vance of a common code of ordinances, regulating 

 the craft to which it belonged, while other 

 essential features in the organization were a 

 common worship, with usually a special patron 

 saint, a common social feast, and lastly, a 

 common fund, which not only provided for the 

 craft purposes but served to relieve the poor 

 members, and oftentimes to defray their burial 

 expenses. 



The early and rapid growth of London, the 

 commercial Importance of which was recognized 

 and testified to by Tacitus, probably did much to 

 foster and develop these guilds In England. One 

 of the earliest London trading guilds of which we 

 have cognizance was the guild of Steelyard mer- 

 chants,^ amply described by Stow, and, according 



Now extinct. 



