purchase, is of a threefold nature:--1st. It may take the form of a
fine for any breach of the apprenticeship indentures; 2nd. It is
often bestowed as an honorary distinction on individuals eminent for
their public services; and 3rd. Admission to the freedom of the City
is by presentment by persons entitled to confer that privilege. It is
imperative on all persons elected to a corporate office, or "occupying
premises and carrying on any trade, business, or profession, within
the City and its liberties," to become free of the City. This is done
by the payment of the fees of the officers and of 5 pounds to the
Corporation. The advantages of the freedom, though not so great in
the present day as in ancient times, are still considerable. Besides
being a bond of union and mutual protection, it entitles its possessor
to a vote at the elections of the aldermen and the common council of
the ward. Only freemen can act as brokers, or, indeed, carry on any
trade within the boundaries of the City.

The Companies.

As the City of London waxed mighty and opulent, proportionate was the
increase of the wealth and importance of its component parts. The
humble guilds or crafts gradually developed themselves into large and
influential trading companies, to belong to which was deemed an honour
not beneath the consideration of royalty. Edward III., for instance,
did not disdain to be enrolled in the Worshipful Company of Linen
Armourers, now Merchant Tailors; and his example was followed by his
successor, Richard II. The example, indeed, was contagious, for in the
reign of the latter monarch the company in question could boast of the
fellowship of four royal dukes, ten earls, ten barons, and five
bishops. The custom has come down to our own times, and the proudest
names in the aristocracy are recorded in the books of the City