GUILD, (from the Saxonguildan, to "pay"), signifies a fraternity or company, because every one was gildare, i. e. to pay something towards the charge and support of the company. As to the original of these guilds or companies, it was a law among the Saxons, that every freeman of fourteen years of age should find sureties to keep the peace, or be committed; upon which the neighbours entered into an association, and became bound for each other, either to produce him who committed any offence, or to make satisfaction to the injured party: in order to this, they raised a sum among themselves, which they put into a common stock; out of which they, upon occasion, made a pecuniary compensation according to the quality of the offence committed. These guilds are now companies joined together, with laws and orders made by themselves, by the licence of the prince.