work: 'The Christian doctrine of price, and Christian condemnation
of gain at the expense of another man, affected all the mediaeval
organisation of municipal life and regulation of inter-municipal
commerce, and introduced marked contrasts to the conditions of
business in ancient cities. The Christian appreciation of the duty of
work rendered the lot of the mediaeval villain a very different thing
from that of the slave of the ancient empire. The responsibility of
proprietors, like the responsibility of prices, was so far insisted
on as to place substantial checks on tyranny of every kind. For these
principles were not mere pious opinions, but effective maxims in
practical life. Owing to the circumstances in which the vestiges of
Roman civilisation were locally maintained, and the foundations of
the new society were laid, there was ample opportunity for
Christian teaching and example to have a marked influence on its
development.'[5] In Dr. Cunningham's book entitled _Politics and
Economics_ the same opinion is expressed:[6] 'Religious and industrial
life were closely interconnected, and there were countless points at
which the principles of divine law must have been brought to bear
on the transaction of business, altogether apart from any formal
tribunal. Nor must we forget the opportunities which directors had for
influencing the conduct of penitents.... Partly through the operation
of the royal power, partly through the decisions of ecclesiastical
authorities, but more generally through the influence of a Christian
public opinion which had been gradually created, the whole industrial
organism took its shape, and the acknowledged economic principles were
framed.' We have quoted these passages from Dr. Cunningham's works at
length because they are of great value in helping us to estimate
the rival parts played by theory and practice in mediaeval economic
teaching; in the first place, because the author was by no means
prepossessed in favour of the teaching of the canonists, but rather
unsympathetic to it; in the second place, because, although his work
was concerned primarily with practice, he found himself obliged
to make a study of theory before he could properly understand the
practice; and lastly, because they point particularly to the effect of
the teaching on just price. When we come to speak of this part of the
subject we shall find that Dr. Cunningham failed to appreciate the
true significance of the canonist