Notwithstanding the apparent outward integrity of the system based on land tenures, land was ceasing to be the only form of productive wealth. Hence it was losing the exclusive importance attaching to it in the earlier period of the Middle Ages. The first form of modern capitalism had already arisen. Large aggregations of capital in the hands of trading companies were becoming common. The Roman law was establishing itself in the place of the old customary tribal law which had hitherto prevailed in the manorial courts, serving in some sort as a bulwark against the caprice of the territorial lord; and this change facilitated the development of the bourgeois principle of private, as opposed to communal, property. In intellectual matters, though theology still maintained its supremacy as the chief subject of human interest, other interests were rapidly growing up alongside of it, the most prominent being the study of classical literature.
Besides these things, there was the dawning interest in nature, which took on, as a matter of course, a magical form in accordance with traditional and contemporary modes of thought. In fact, like the flicker of a dying candle in its socket, the Middle Ages seemed at the beginning of the sixteenth century to exhibit all their own salient characteristics in an exaggerated and distorted form. The old feudal relations had degenerated into a blood-sucking oppression; the old rough brutality, into excogitated and elaborated cruelty (aptly illustrated in the collection of ingenious instruments preserved in the Torture-tower at Nürnberg); the old crude superstition, into a systematised magical theory of natural causes and effects; the old love of pageantry, into a lavish luxury and magnificence of which we have in the "field of the cloth of gold" the stock historical example; the old chivalry, into the mercenary bravery of the soldier, whose trade it was to fight, and who recognised only one virtue--to wit, animal courage. Again, all these exaggerated characteristics were mixed with new elements, which distorted them further, and which fore-shadowed a coming change, the ultimate issue of which would be their extinction and that of the life of which they were the signs.