The need of running water is, of course, the most serious point about so big and prosperous a city, and a running stream to turn a paper mill would heal more ills than all her pictures and her wide calm view. The great rushing stream of the Tiber down at the foot of the hill seems like a sort of solemn mockery to people who have only wells and a little river from the hill to drink from and to wash their linen in. We have realized this on winter nights when the Tiber was out in flood in the moonlight down below our windows, and small drops freezing, one by one, on Pisano's fountain behind us in the square. Yet the town is prosperous. Its inhabitants and those of the commune have increased by some six thousand since the days of its first prosperity. Commerce, it is true, seems somewhat at a standstill. There is the commerce of travellers, which is by no means inconsiderable; and there is the commerce of Mind. This last Perugia has always had since the days when she grew powerful, and the University of Perugia has played a constant and important part throughout her annals. It was founded in the beginning of the fourteenth century, and its management, like other things in the city, was chiefly in the hands of the people and their representatives, the _Priori_. Five _Savi_, one from each _rione_, were told off to regulate its affairs and to elect its professors. Urban VIII. brought it under the management of the Church, but this did not in any way alter its first rules and laws. We hear that "the Emperor Charles IV. bestowed upon the University all those distinctions which were enjoyed by the most celebrated universities of the Empire," and Napoleon confirmed these and added much to the magnificence of Perugia's university. It was during the Napoleonic rule that the college was transferred from its old quarters in the Piazza Sopramuro to the vast new buildings at Montemorcino. Her three main branches of study are jurisprudence, science, and theology. Several of the popes studied in Perugia. S. Thomas Aquinas lectured here, and many distinguished men of science and of law passed through their first schools in the Umbrian hill town. The two great lawyers Baldo Baldeschi and Bartolo Alfani were students in the University of Perugia, and Alberico Gentile, who afterwards lectured in Oxford, studied here at the University. The affairs of war were never allowed to interfere with those of the mind, and we hear that a guarantee of safe conduct was given to any scholar who came here from a distance.