4. _Inspections._—These were of two kinds, one by the wardens conservators, and the other by examiners chosen out of the trading companies frequenting the fair. The wardens’ inspection was at the opening of every fair, to see that the dealers had all suitable convenience and security—the inspectors being properly qualified judges of the character of the goods brought, with authority to stop and seize all that were of inferior quality; but this not without appeal to six, five, or four persons experienced in the particular trade. 5. _Payments, Bonds, and Exchanges._—All tradesmen, alike French and foreigners, might agree in their contracts for payment of goods sold in the fair—to be paid in gold and silver current at the time of making the contract, notwithstanding any ordinance concerning money to the contrary. Interest for loans, and goods sold on credit at fairs, might not exceed fifteen per cent. The interest might not be added to the principal in renewing bonds made at fairs. Nor might bonds made at any other time run in the style of those used at fairs, as if made there. All letters, acts, contracts, &c., relating to fairs, to be null _unless under the authenticated seal of the fairs_. None unless he had actual residence in fairs might use the seal or other obligations, or enjoy the privileges thereof. The re-establishment of these privileges—many of which were obviously made in the interest of merchants attending to buy—had the effect of restoring the fairs of these provinces to their former greatness. Again multitudes of traders came from Germany, Italy (particularly from Florence), Lucca, Venice, and Genoa, with gold, silver, and silk stuffs, spices and other goods of their country, or of the Levant, taking in exchange cloths, leather and other commodities, not only the produce of the provinces, but brought from other parts of France. I speak of the fair of _Troyes_ separately hereafter, on account of one of its distinguishing features. Mr. Morley has pointed out that before the establishment of free fairs in France, the rights of _salutaticum_, _pontaticum_, _repaticum_, and _portulaticum_, absorbed one half of a foreign merchant’s goods upon their first arrival and debarkation. Afterwards traders came exempt not only from imperial taxation, but from many of the ordinary risks of travel. One great element of interest in these fairs centres in the circumstance of the following correspondence between the Wardens of the fair and the Lord Mayor of London concerning dealings in these fairs in the thirteenth century. They have been carefully preserved amongst the records of the City for six centuries—and now for the first time gain the glory of printer’s ink. They reveal a feature in the comity of nations; and present a proof of the cosmopolitan interests of commerce which can scarcely be excelled. Hence I propose to give them entire: