right to vote for two candidates at elections. This principle was
established by a decision of the House of Commons, on an appeal, in
the year 1766, and has ever since been acted upon. The burgesses are
entitled, by the charter of Henry II., to have a GUILD MERCHANT, with
the usual franchises annexed, of safe transit through the kingdom,
exemption from toll, pontage, and stallage; liberty to buy and sell
peaceably; and power to hold a guild for the renewal of freedom to the
burgesses, the confirming of by-laws, and other purposes. This
privilege is still made the occasion of great festivity. For a long
time after their first institution, the guilds were held at irregular
periods, but they have now, for more than a century, been uniformly
celebrated every twentieth year, commencing on the Monday next after
the Decollation of St. John, which generally happens in the last week
of August; the last was held in 1822, and commenced on the 22nd of
September. The amusements, which are of great variety, continue for a
fortnight; but, for civic purposes, the guild books are open for one
entire month. The corporation are obliged to hold this carnival, on
pain of forfeiting their elective franchises, and their rights as
burgesses. The _guild_ appears to be of the nature of the ancient
frank-pledge: it is of Saxon origin, and derived from the word _gile_,
signifying money, by which certain fraternities enter into an
association, and stipulate with each other to punish crimes, make
losses good, and acts of restitution proportioned to offences;--for
which purposes, they raised sums of money among themselves, forming a
common stock; they likewise endowed chantries for priests to perform
orisons for the defunct. Fraternities and guilds were, therefore, in
use, long before any formal licenses were granted to them; though, at
this day, they are a company combined together, with orders and laws
made by themselves, under sanction of royal authority. The
several trades of Preston are incorporated; twenty-five chartered