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to our guests, and you speak with partiality."

"At any rate, sir," Edgar said, courteously, "the fact that you so bore yourself in the tournament suffices to explain how it was that you were able to keep those cut-throats at bay until just before we arrived at the spot."

"We are peaceful men in the city," the merchant said, "but we know that if we are to maintain our rights, and to give such aid as behoves us to our king in his foreign wars, we need knowledge as much as others how to bear arms. Every apprentice as well as every free man throughout the city has to practise at the butts, and to learn to use sword and dagger. I myself was naturally well instructed; and as my father was wealthy, there were always two or three good horses in his stables, and I learned to couch a lance and sit firm in the saddle. As at Hastings and Poictiers, the contingent of the city has ever been held to bear itself as well as the best; and although we do not, like most men, always go about the street with swords in our belts, we can all use them if needs be. Strangely enough, it is your trading communities that are most given to fighting. Look at Venice and Genoa, Milan and Pisa, Antwerp, Ghent, and Bruges, and to go further back, Carthage and Tyre. And even among us, look at the men of Sandwich and Fowey in Cornwall; they are traders, but still more they are fighters; they are ever harassing the ships of France, and making raids on the French coast."

"I see that it is as you say," Edgar said, "though I have never thought of it before. Somehow one comes to think of the citizens of great towns as being above all things peaceful."

"The difference between them and your knights is, that the latter are always ready to fight for honour and glory, and often from the pure love of fighting. We do not want to fight, but are ready to do so for our rights and perhaps for our interests, but at bottom I believe that there is little difference between the classes. Perhaps if we understood each other better we should join more closely together. We are necessary to each other; we have the honour of England equally at heart. The knights and nobles do most of our fighting for us, while we, on our part, import or produce everything they need beyond the common necessities of life; both of us are interested in checking the undue exercise of kingly authority; and if they supply the greater part of the force with which we carry on the war with France, assuredly it is we who find the greater part of the money for the expenses, while we get no share of the spoils of battle."

"Have you any sisters, Master De Courcy?" the merchant's wife asked, presently.

"I have but one; she is just about the same age as your daughter, and methinks there is a strong likeness between them. She and my mother are both here, having been sent for by my father on the news of the troubles in our neighbourhood."

"In that case, wife," the merchant said, "it were seemly that you and Ursula accompany me to-morrow when I go to pay my respects to Sir Ralph De Courcy."

After dinner was over the merchant took his guests into a small room adjoining that in which they had dined.

"Friends," he said, "we London merchants are accustomed to express our gratitude not only by words but by deeds. At present, methinks, seeing that, as you have told me, you have not yet launched out into the world, there is naught that you need; but this may not be so always, for none can tell what fortune may befall him. I only say that any service I can possibly render you at any time, you have but to ask me. I am a rich man, and, having no son, my daughter is my only heir. Had your estate been different and your taste turned towards trade, I could have put you in the way of becoming like myself, foreign merchants; but even in your own profession of arms I may be of assistance.

"Should you go to the war later on and wish to take a strong following with you, you have but to come to me and say how much it will cost to arm and equip them and I will forthwith defray it, and my pleasure in doing so will be greater than yours in being able to follow the king with a goodly array of fighting men. One thing, at least, you must permit me to do when the time comes that you are to make your first essay in arms: it will be my pleasure and pride to furnish you with horse, arms, and armour. This, however, is a small matter. What I really wish you to believe is that under all circumstances—and one cannot say what will happen during the present troubles—you can rely upon me absolutely."

"We thank you most heartily, sir," Edgar said, "and should the time come when, as you say, circumstances may occur in which we can take advantage of your most generous offers, we will do so."

"That is well and loyally said," the merchant replied, "and I shall hold you to it. You will remember that, by so doing, it will be you who confer the favour and not I, for my wife and I will always be uneasy in our minds until we can do something at least towards proving our gratitude for the service that you have rendered."

A few minutes later, after taking leave of the merchant's wife and daughter, the two friends left the house.

"Truly we have been royally entertained, Edgar. What luxury and comfort, and yet everything quiet and in good taste. The apartments of the king himself are cold and bare in comparison. I felt half inclined to embrace his offer and to declare that I would fain become a trader like himself."

Edgar laughed, "Who ever heard of such a thing as the son of a valiant knight going into trade? Why the bare thought of such a thing would make Sir Ralph's hair stand on end. You would even shock your gentle mother."

"But why should it, Edgar? In Italy the nobles are traders, and no one thinks it a dishonour. Why should not a peaceful trade be held in as high esteem as fighting?"

"That I cannot say, Albert," Edgar replied, more seriously; "but whatever may be the case in Venice, it assuredly is not so here. It may be that some day when we reach as high a civilization as Genoa and Venice possess, trade may here be viewed as it is there—as honourable for even those of the highest birth. Surely commerce requires far more brains and wisdom than the dealing of blows, and the merchants of Venice can fight as earnestly as they can trade. Still, no one man can stand against public opinion, and until trade comes to be generally viewed as being as honourable a calling as that of war, men of gentle blood will not enter upon it; and you must remember, Albert, that it is but the exceptions who can gain such wealth as that of our host to-day, and that had you gone into the house of one of the many who can only earn a subsistence from it, you would not have been so entertained. But, of course, you are not serious, Albert."

"Not serious in thinking of being a trader, Edgar, though methinks the life would suit me well; but quite serious in not seeing why knights and nobles should look down upon traders."

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