numbers and the necessary character of their labour. The Guilds were confederations of men with property, seeking to ensure each man in the possession of that property. This is, of course, the only condition of affairs in which property can properly be said to exist at all. We should not speak of a negro community in which most men were white, but the rare negroes were giants. We should not conceive a married community in which most men were bachelors, and three men had harems. A married community means a community where most people are married; not a community where one or two people are very much married. A propertied community means a community where most people have property; not a community where there are a few capitalists. But in fact the Guildsmen (as also, for that matter, the serfs, semi-serfs and peasants) were much richer than can be realized even from the fact that the Guilds protected the possession of houses, tools, and just payment. The surplus is self-evident upon any just study of the prices of the period, when all deductions have been made, of course, for the different value of the actual coinage. When a man could get a goose or a gallon of ale for one or two of the smallest and commonest coins, the matter is in no way affected by the name of those coins. Even where the individual wealth was severely limited, the collective wealth was very large—the wealth of the Guilds, of the parishes, and especially of the monastic estates. It is
