The magnates of London, from generation to generation, showed far more wisdom, tenacity, and clearness of vision than can be found in the annals of Venice, Genoa, or any other mediæval city. Above all things, they maintained the city liberties and the rights obtained from successive kings; yet they were always loyal so long as loyalty was possible; when that was no longer possible, as in the case of Richard II., they threw the whole weight of their wealth and influence into the other side. If fighting was wanted, they were ready to send out their youths to fight--nay, to join the army themselves; witness the story of Sir John Philpot, Mayor in 1378. There was a certain Scottish adventurer named Mercer. This man had gotten together a small fleet of ships, with which he harassed the North Sea and did great havoc among the English merchantmen. Nor could any remonstrance addressed to the Crown effect any redress. What was to be done? Clearly, if trade was to be carried on at all, this enemy must be put down. Therefore, without much ado, the gallant Mayor gathered together at his own expense a company of a thousand stout fellows, put them on board, and sallied forth, himself their admiral, to fight this piratical Scot. He found him, in fact, in Scarborough Bay with his prizes. Sir John fell upon him at once, slew him and most of his men, took all his ships, including the prizes, and returned to the port of London with his spoils, including fifteen Spanish ships which had joined the Scotchman. Next year the king was in want of other help. The arms and armor of a thousand men were in pawn. Sir John took them out. And because the king wanted as many ships as he could get for his expedition into France, Sir John gave him all his own, with Mercer's ships and the Spanish prizes. [Illustration: GERRARD'S HALL.]