"Whereas in divers cities, towns, and boroughs a certain custom hath prevailed, and certain bye-laws have been made, that no person, not being free of a city, town, or borough, or of certain guilds, mysteries, or trading companies within the same or some or one of them, shall keep any shop or place for putting to show or sale any or certain wares or merchandize by way of retail or otherwise, or use any or certain trades, occupations, mysteries, or handicrafts for hire, gain, or sale within the same: Be it enacted that, notwithstanding any such custom or bye-law, every person in any borough may keep any shop for the sale of all lawful wares and merchandizes by wholesale or retail, and use every lawful trade, occupation, mystery, and handicraft, for hire, gain, sale or otherwise, within any borough." In these words, which might seem the echo of Magna Carta[223] through the centuries, liberty of trading was made a fact throughout England. [Sidenote: _End of the companies._] It is interesting that we have recorded for us the way in which this sweeping change was received by those most concerned. The Mercers had foreseen (July 31, 1835) that it would be advisable to drop all pending actions against foreigners until the result of the Act then before Parliament should be decided. After it had become law the company met, for the last time under the old conditions, on March 25, 1836, to consider their position and to take steps for the future. It was apparently a stormy meeting. An influential minority proposed to divide the property among the members there and then, and so have done with the company. It was however carried "That the chief rents ... be not disposed of, but reserved to meet the payments to be made to the Alms people of St. Chad's Almshouses[224], and for other purposes." The fire engine, the company's weights and measures etc., were sold. The other companies acted in a similar manner. The Saddlers divided at once the funds which remained in the treasurer's hands, and which amounted to L1. 7_s._ 0_d._ for each member[225]. Their arbour was however retained, and the rent from it expended on the annual feast on Show Monday. This arrangement was to continue so long as any of the freemen should be living: on the decease of the last survivor the arbour was to devolve to the town council. Lastly, all books, and whatever else remained to the company, were to be deposited with the wardens for the time being. [Sidenote: _Partial continuation of the companies._]