The purpose of this paper is not to discuss in detail the trade relations of England in the fifteenth century with other nations of Europe, but to endeavour to arrive at some conclusion as to the political and social standing of alien merchants in this country during the century by a consideration of the chief measures adopted to regulate their dealings. The insight which this consideration will give us into the nature and motives of the attitude then generally held by Englishmen towards these merchants will assist us greatly in arriving at some definite acquaintance with the economic theories of the period.