[Sidenote: _Business at meetings._] [Sidenote: _Penalties._] At the meeting, which from its most general name of "mornspeche" appears to have followed soon after Mass, great solemnity was observed. The double-locked box[83] was opened by the two Wardens[84] amidst a reverential silence, and the composition or charter preserved in it rehearsed to the assembled brethren. Business was then proceeded with:--election of officers, admittance of new brethren, authorisation of indentures. Then if necessary regulations were passed for the government of the Gild and ordinances made for the due protection of trade, such as summonses to Intruders to enter the union. The ordinary penalties which the companies might inflict were fines of money or of wax, (in which king and corporation shared and which they were consequently willing to enforce,) and, in extreme cases total expulsion from the Gild, which of course meant exclusion from trade within the town. [Sidenote: _Halls._] After the "mornspeche" came the mutual feast. The brethren had begun the day by union for worship, they ended it with union for social and convivial festivity. In later times the business portion of the meeting was transacted in the Hall of the Gild and the brethren afterwards adjourned to some convenient tavern. Several of the Halls were standing until quite recent times. Such were those of the Mercers, Tailors, and Weavers[85]. That of the Shearmen is now used as an Auction Mart, but the Drapers' Hall still retains its former dignity. [Sidenote: _Necessity of historical attitude_] It will be necessary to attempt some estimation of the extent and value of the influence which the Gilds exercised on contemporary life and thought. In doing this, and indeed in dealing with the whole subject of trade regulation in the Middle Ages, it is necessary to bear continually in mind that not only were the conditions of trade then very materially different from those under which we now live, but that Economic Theory was still more at variance with modern views. It is necessary therefore to take a historical attitude, and to try to appreciate both the difference of social conditions, and the difference of objects in view. These objects may be considered firstly as individual and perhaps selfish; and, secondly, as general and for the common good. [Sidenote: _in estimating importance of Gilds; Commercial,_] 1. If we consider the charters from the first point of view we see that the trade regulations were dictated by the desire to secure to all the brethren their means of livelihood: "no broder" was to "induce or tyce any other Mastres Accostom," or to employ the servants of another combrother, or otherwise to act in a spirit of unbrotherly and dishonourable competition. The charters are full of such regulations. No member might obtrude wares before passers in the open street, or erect booths "for to have better sale than eny of the combrethren[86]."