Chapter 1 examines the fourteenth-century emergence of problems that drove fifteenth-century developments. When necessary, this chapter places those fourteenth-century problems in their twelfth- and thirteenth-century contexts. The problems were three. Firstly, there was the diminution of the town’s population caused by bubonic plague. Secondly, there was swelling municipal debt; its existence and the measures taken to reduce it exacerbated social antagonisms that fuelled the third problem, distrust. Between the 1340s and the 1390s, suspicion and hostility between burghers and merchants, on the one hand, and tradespeople, on the other, deepened and became dangerously acute.