igher than it had
ever reached before. "We cannot as yet call it the capital of the kingdom,
but its geographical position made one of the chief bulwarks of the land,
and in no part of the realm do we find the inhabitants outdoing the
patriotism and courage of its valiant citizens."(54) Under Edgar the
foreign trade with the city had increased to such an extent that Ethelred,
his son, deemed it time to draw up a code of laws to regulate the customs
to be paid by the merchants of France and Flanders as well as by the
"emperor's men," the fore-runners of those "easterling" merchants, who,
from their headquarters in the Steel-yard at Dowgate, subsequently became
known as merchants of the Steel-yard.(55)

Among the multitude of foreigners that in after-years thronged the streets
of the city bartering pepper and spices from the far east, gloves and
cloth, vinegar and wine, in exchange for the rural products of the
country, might be seen the now much hated but afterwards much favoured
Dane.(56) The Dane was again master of all England, except London, and
Ethelred's kingdom, before the close of his reign, was confined within the
narrow limits of the city's walls; "that true-hearted city was once more
the bulwark of England, the centre of every patriotic hope, the special
object of every hostile attack."(57)

(M36)

At Ethelred's death the Witan who were in London united with the
inhabitants of the city in choosing Edmund as his successor. This is the
first recorded instance of the Londoners having taken a direct part in the
election of a king. Cnut disputed Edmund's right to the crown, and
proceeded to attack the city. He sailed up the Thames with his fleet, but
being unable to pass the bridge, he dug a canal on the south side of the
river, whereby he was enabled to carry his ships above bridge, and so
invest the city along the whole length of the riverside. To complete the
investment, and so prevent any of the inhabitants escaping either by land
or water, he ditched the city round, so that none could pass in or
out.(58)

(M37)

This, as well as two other attempts made by Cnut within a few weeks of
each other to capture London by siege, were frustrated by the determined
opposition of the citizens.(59) "Almighty God saved it," as the chronicler
piously remarks.(60)

(M38)

Nor was Cnut more successful in the field, being worsted in no less than
five pitched battles against Edmund, until by the treachery of Edmund's
br