The same is true of early commercial intercourse with foreign communities. The right to hold a fair is a liberty granted by the crown to a lord, and for centuries the great fairs were the chief international marts (Nos. 4-7, 30). The freedom which alien merchants enjoyed under a clause of _Magna Carta_ was extended by charters granting privileges similar in detail to those procured by English towns (Nos. 29-31), and it is not until the reign of Edward I. that a serious attempt is made to nationalise regulation (Nos. 8-11). Thereafter conflicts arise not only between the central legislature and the local chartered body or privileged lord (No. 11), but between a growing self-conscious merchant class and the alien communities which had hitherto controlled the export and import trade of the country (Nos. 21, 22). The State assumes new responsibilities, and Parliament attempts to standardise old and enforce new regulations for the nation at large (Nos. 12, 18, 19, 25). The Statute emerges over against the Charter on the one hand and the Ordinance on the other. The difficulties of Parliament are twofold; it has to fight, first, against old concessions which would be upheld by the Courts (No. 11), and second, against the uncertain operation of the royal prerogative (No. 34). It has often been urged that the mediæval statute was little more than the expression of an ideal, and that administrative machinery was insufficient for its adequate execution. The truth is rather that Parliament was one of several competing regulative institutions, and that notwithstanding the most punctilious and inquisitorial administrative methods, its measures were neutralised by existing privileges and by fresh exemptions extracted from a chronically bankrupt and insincere monarchy. That the administration was not of itself ineffective is clear from the enforcement of the Statutes of Labourers in the fourteenth century (Nos. 12-17) and of the Statute of 18 Henry VI restricting the freedom of aliens in the fifteenth century (Nos. 33, 34). The Crown was always preoccupied with the state of the revenue; statutes are enforced or overridden, according as their operation will benefit or deplete the Exchequer. It was the experience of centuries that gave point to queen Elizabeth's affection for the prerogative. None the less great strides were made in the fourteenth and fifteenth centuries towards the end largely achieved in the Tudor period. The Elizabethan legislation sums up and rounds off the work of the previous two hundred years. The regulation of wages and of the conditions of labour (Nos. 12-19), the protection of industry, commerce and shipping, making national trade an important factor in international diplomacy (Nos. 20, 22, 25,27,28), the emergence of a native mercantile class eager to win the export trade for their own country by means of the staple (Nos. 20-24), the jealousy of the alien, growing in intensity throughout the fourteenth and fifteenth centuries (Nos.