of the Alps. They had taught men the management of capital, bookkeeping and the various forms of credit, and though they continued to dominate the trade in money, they found themselves faced by a growing number of rivals in the trade in merchandise. The peculiar character of medieval town life was its juxtaposition of two populations. There were the burgesses or guildsmen for whom the town mainly existed, and whose effort was to fix prices and standards for goods and conditions of citizenship: The period in which the craft guilds dominated or influenced the economic regime of the towns is also that in which urban protectionism reached its height. However divergent their professional interests might be, all