This was great progress from the general servitude of the 11th and 12th centuries, an immense barrier against arbitrary rule.

Loftier ideas of human rights, larger conceptions of commerce, have taught mankind, in later days, the difference between liberties and liberty, between guilds and free competition.

At the same time it was the principle of mercantile association, in the middle ages, which protected the infant steps of human freedom and human industry against violence and wrong.

Moreover, at this period, the tree of municipal life was still green and vigorous.

The healthful flow of sap from the humblest roots to the most verdurous branches indicated the internal soundness of the core, and provided for the constant development of exterior strength.