The guilds were being replaced by associations for the investment of capital. In associations, journeymen were losing their chance of rising to be a master. Competition among associations was starting to supplant custom as the mainspring of trade.
The cloth exporters, who were mostly mercers, were unregulated and banded together for mutual support and protection under the name of Merchant Adventurers of London. The Merchant Adventurers was chartered in 1407. It was the first and a prototype of regulated companies. That is the company regulated the trade. Each merchant could ship on his own a certain number of cloths each year (the number depending on the length of his membership in the company) and sell them himself or by his factor at the place where the company had privileges of market. Strict rules governed the conduct of each member. He was to make sales only at certain hours on specified days. All disagreements were to be settled by the company's governor, or his deputy in residence, and those officials dealt with such disputes as arose between members of the company and continental officials and buyers. A share in the ownership of one of their vessels was a common form of investment by prosperous merchants. By 1450, the merchant adventurers were dealing in linen cloths, buckrams Paved roads in towns were usually gravel and sometimes cobble. They were frequently muddy because of rain and spillage of water being carried. Iron-shod wheels and overloaded carts made them very uneven. London was the first town with paviors. They cleaned and repaired the streets, filling up pot-holes with wood chips and compacting them with hand rams. The paviors were organized as a city company in 1479. About 1482, towns besides London began appointing salaried road paviors to repair roads and collect their expenses from the householders because the policy of placing the burden on individual householders didn't work well. London streets were lighted at night by public lanterns, under the direction of the mayor. The residents were to light these candle lanterns in winter from dusk to the 9 pm curfew. There were fire-engines composed of a circular cistern with a pump and six feet of inflexible hose on wheels pulled by two men on one end and pushed by two men on the other end. In 1480 the city walls were rebuilt with a weekly tax of 5d. per head. In schools, there was a renaissance of learning from original sources of knowledge written in Greek and rebirth of the Greek pursuit of the truth and scientific spirit of inquiry. There was a striking increase in the number of schools founded by wealthy merchants or town guilds. Every cathedral, monastery, and college had a grammar school. Merchants tended to send their sons to private boarding schools, instead of having them tutored at home as did the nobility. Well-to-do parents still sent sons to live in the house of some noble to serve them as pages in return for being educated with the noble's son by the household priest. They often wore their master's coat of arms and became their squires as part of their knightly education. Sometimes girls were sent to live in another house to take advantage to receive education from a tutor there under the supervision of the lady of the house. Every man, free or villein, could send his sons and daughters to school. In every village, there were some who could read and write. In 1428, Lincoln's Inn required barristers normally resident in London and the county of Middlesex to remain in residence and pay commons during the periods between sessions of court and during vacations, so that the formal education of students would be continuous. In 1442, a similar requirement was extended to all members. The book "Sir Gawain and the Green Knight" was written about an incident in the court of King Arthur and Queen Guenevere in which a green knight challenges Arthur's knights to live up to their reputation for valor and awesome deeds. The knight Gawain answers the challenge, but is shown that he could be false and cowardly when death seemed to be imminent. Thereafter, he wears a green girdle around his waist to remind him not to be proud. Other literature read included "London Lickpenny", a satire on London and its expensive services and products, "Fall of Princes" by John Lydgate, social history by Thomas Hoccleve, "The Cuckoo and the Nightengale", and "The Flower and Leaf" on morality as secular common sense. King James I of Scotland wrote a book about how he fell in love. Chaucer, Cicero, Ovid, and Aesops's Fables were widely read. Malory's new version of the Arthurian stories was popular. Margery Kempe wrote the first true autobiography. She was a woman who had a normal married life with children, but one day had visions and voices which led her to leave her husband to take up a life of wandering and praying in holy possession. There were religious folk ballads such as "The Cherry Tree Carol", about the command of Jesus from Mary's womb for a cherry tree to bend down so that Mary could have some cherries from it. The common people developed ballads, e.g. about their love of the forest, their wish to hunt, and their hatred of the forest laws. About 30% of Londoners could read English. Books were bought in London in such quantities by 1403 that the craft organizations of text-letter writers, illuminators, book-binders, and book sellers was sanctioned by ordinance. "Unto the honorable lords, and wise, the mayor and aldermen of the city of London, pray very humbly all the good folks, freemen of the said city, of the trades of writers of text-letter, limners [illuminator of books], and other folks of London who are wont to bind and to sell books, that it may please your great sagenesses to grant unto them that they may elect yearly two reputable men, the one a limner, the other a text- writer, to be wardens of the said trades, and that the names of the wardens so elected may be presented each year before the mayor for the time being, and they be there sworn well and diligently to oversee that good rule and governance is had and exercised by all folks of the same trades in all works unto the said trades pertaining, to the praise and good fame of the loyal good men of the said trades and to the shame and blame of the bad and disloyal men of the same. And that the same wardens may call together all the men of the said trades honorably and peacefully when need shall be, as well for the good rule and governance of the said city as of the trades aforesaid. And that the same wardens, in performing their due office, may present from time to time all the defaults of the said bad and disloyal men to the chamberlain at the Guildhall for the time being, to the end that the same may there, according to the wise and prudent discretion of the governors of the said city, be corrected, punished, and duly redressed. And that all who are rebellious against the said wardens as to the survey and good rule of the same trades may be punished according to the general ordinance made as to rebellious persons in trades of the said city [fines and imprisonment]. And that it may please you to command that this petition, by your sagenesses granted, may be entered of record for time to come, for the love of God and as a work of charity." Gutenberg's printing press, which used movable type of small blocks with letters on them, was brought to London in 1476 by a mercer: William Caxton. It supplemented the text-writer and monastic copyist. It was a wood and iron frame with a mounted platform on which were placed small metal frames into which words with small letters of lead had been set up. Each line of text had to be carried from the type case to the press. Beside the press were pots filled with ink and inking balls. When enough lines of type to make a page had been assembled on the press, the balls would be dipped in ink and drawn over the type. Then a sheet of paper would be placed on the form and a lever pulled to press the paper against the type. Linen usually replaced the more expensive parchment for the book pages. The printing press made books more accessible to all literate people. Caxton printed major English texts and some translations from French and Latin. He commended different books to various kinds of readers, for instance, for gentlemen who understand gentleness and science, or for ladies and gentlewomen, or to all good folk. There were many cook books in use. There were convex eyeglasses for reading and concave ones for distance to correct near-sightedness. The first public library in London was established from a bequest in a will in 1423.