. On this day, of this month, the 20th of October, six hundred and twenty-three years ago, the merchants and tradesmen of Florence met before the church of Santa Croce; marched through the city to the palace of their Podesta; deposed their Podesta; set over themselves, in his place, a knight belonging to an inferior city; called him "Captain of the People;" appointed under him a Signory of twelve Ancients chosen from among themselves; hung a bell for him on the tower of the Lion, that he might ring it at need, and gave him the flag of Florence to bear, half white, and half red. The first blow struck upon the bell in that tower of the Lion began the tolling for the passing away of the feudal system, and began the joy-peal, or carillon, for whatever deserves joy, in that of our modern liberties, whether of action or of trade.