=76. English fairs.=—England was near the circumference of trade in this period, instead of being at the center as it now is, and its commerce was not so highly developed as that of some of the Continental countries. The English fairs, therefore, were of less importance, and in most cases did not attract merchants from distant countries. The largest English fair was Stourbridge Fair held about a mile from Cambridge, in an excellent position for trade with the low countries across the Channel, and for the distribution of goods through the thickly populated districts of England. Another great English fair was that of Winchester, held each year for sixteen days, beginning on August 31st. “The hill-top was quickly covered with streets of wooden shops; in one the merchants from Flanders, in another those of Caen or some other Norman town, in another the merchants from Bristol. Here were placed the goldsmiths in a row, and there the drapers; while around the whole was a wooden palisade with guarded entrance,—precautions which did not always prevent enterprising adventurers from escaping payment of toll by digging a way in for themselves under the wall.... All trade was compulsorily suspended at Winchester, and within a ‘seven-league circuit,’ guards being stationed at outlying posts, on bridges and other places of passage, to see that the monopoly was not infringed. At Southhampton, outside the circuit, nothing was to be sold during the fair-time but victuals, and even the very craftsmen of Winchester were bound to transfer themselves to the hill and there carry on their occupation during the fair. There was a graduated scale of tolls and duties; all merchants of London, Winchester, or Wallingford who entered during the first week were free from entrance tolls; after that date newcomers paid tolls, except the members of the merchant gild of Winchester.” QUESTIONS AND TOPICS 1. Following the reasons given in sect. 71 to explain the rise of fairs, show why they have declined in recent times. What effect will the extension of railroads and the development of trade between Asia and Europe have upon the fairs of Nijni Novgorod? 2. Set down all the points of likeness and of difference, so far as they occur to you, of: market, fair, produce or stock exchange. 3. Study the history of fairs in your own State. Did the “county fair” once have more economic importance than it has now? 4. Does a modern stock-exchange seek to attract customers by offering guarantees of special security, as in the case of fairs? [Study the rules of the exchange, and the pains taken to secure honesty and solvency of members.] 5. Study, on a good map, the advantages of location (transportation by land and water, nearness to advanced commercial people) of the Champagne towns; of their successors in commercial importance. 6. Indicate on a sketch map of England the position of medieval fairs. [See the index of Cunningham or Ashley]