“ One of the most ancient pageant festivals in the kingdom is held in the borough of Preston every twenty years, under the designation of the "Preston Guild Merchant." The guilds were of Anglo-Saxon origin, and Camden describes the Gilda Mercatoria as a liberty or privilege granted to merchants, whereby they were entitled to hold certain pleas of land and other possessions within their own precincts, and whereby neighbours enter into associations, and become bound to each other to bring forth him who commits any crime, or to make satisfaction to the injured party. ”

“ The second week was ushered in by an ascent of Mr Livingston in his balloon, and a series of musical performances of the first order, consisting of oratorios and concerts, while a charity ball and a masquerade served to engage and delight the company during the remainder of the festival. It is erroneously supposed by some to be obligatory upon the corporation to celebrate a guild every twenty years ”

“ The guilds form a kind of court of session of corporate legislation, held every twenty years, at which all the laws for the government of the corporation are passed, and at which all the privileges of the burgesses are first claimed. Including that called by Kuerdein the first guild, there have been twenty-one guilds, and those of 1802 and 1822 were presided over by the same individual, the late Nicholas Grimshaw, Esq., who was seven times mayor of Preston, and is the only mayor who has twice, at an interval of twenty years, presided over this festival. ”