Page:An Historical Essay on the Livery Companies of London.djvu/24

 summoned by them out of each ward; but the numbers being often varied at the discretion of the Alderman gave great uneasiness to the Commonalty, for the removing of which the method of election was altered by an Act of Common Council passed in 1476, whereby the manner of electing by the Liverymen of the several Companies was established. By virtue of this Act, the Lord Mayor or Chief Magistrate is annually chosen on Michaelmas Day, for which purpose the Liverymen assemble in the Guildhall on that day, when by holding up of hands they choose two of the Senior Aldermen below the chair, who being returned to the Courts of Lord Mayor and Aldermen, the Senior Alderman is commonly declared Lord Mayor Elect.

The Livery Companies formerly exercised the right of sending members to the Court of Common Council. By a list amongst the City records (50 Edward III), it appears the Companies sending Members in pursuance of their powers were increased from 32 to 48. The Cutlers Company are mentioned in the list as choosing two Members. This right was ultimately taken away, and the Members of the Court of Common Council are now elected by the inhabitant householders of the various wards.

The Parliamentary representatives were also exclusively elected by the Freemen; but this privilege was lost through the operations of the Reform Bill.

It will be interesting to note here that the first grant of a Charter to the City of London was that made by William the Conqueror.

The Livery Companies having gradually increased in numbers, engrossed the trade of the Kingdom and selected the bulk of the Common Council, acquired such wealth and consequence as to attract the especial attention of the government. The custom of forced loans which had been begun by Henry VIII was carried on to a most oppressive extent, and the extracting of money from the trading