The emperor, being arrived at Rome, created an anti-pope, did many things in opposition to the church, and attempted many others, but without effect, so that at last he retired with disgrace, and went to Pisa, where, either because they were not paid, or from disaffection, about 800 German horse mutinied, and fortified themselves at Montechiaro upon the Ceruglio; and when the emperor had left Pisa to go into Lombardy, they took possession of Lucca and drove out Francesco Castracani, whom he had left there.  Designing to turn their conquest to account, they offered it to the Florentines for 80,000 florins, which, by the advice of Simone della Tosa, was refused.  This resolution, if they had remained in it, would have been of the greatest utility to the Florentines; but as they shortly afterward changed their minds, it became most pernicious; for although at the time they might have obtained peaceful possession of her for a small sum and would not, they afterward wished to have her and could not, even for a much larger amount; which caused many and most hurtful changes to take place in Florence.  Lucca, being refused by the Florentines, was purchased by Gherardino Spinoli, a Genoese, for 30,000 florins.  And as men are often less anxious to take what is in their power than desirous of that which they cannot attain, as soon as the purchase of Gherardino became known, and for how small a sum it had been bought, the people of Florence were seized with an extreme desire to have it, blaming themselves and those by whose advice they had been induced to reject the offer made to them.  And in order to obtain by force what they had refused to purchase, they sent troops to plunder and overrun the country of the Lucchese.

About this time the emperor left Italy.  The anti-pope, by means of the Pisans, became a prisoner in France; and the Florentines from the death of Castruccio, which occurred in 1328, remained in domestic peace till 1340, and gave their undivided attention to external affairs, while many wars were carried on in Lombardy, occasioned by the coming of John king of Bohemia, and in Tuscany, on account of Lucca.  During this period Florence was ornamented with many new buildings, and by the advice of Giotto, the most distinguished painter of his time, they built the tower of Santa Reparata.  Besides this, the waters of the Arno having, in 1333, risen twelve feet above their ordinary level, destroyed some of the bridges and many buildings, all which were restored with great care and expense.

In the year 1340, new sources of disagreement arose.  The great had two ways of increasing or preserving their power; the one, so to restrain the emborsation of magistrates, that the lot always fell upon themselves or their friends; the other, that having the election of the rectors, they were always favorable to their party.  This second mode they considered of so great importance, that the ordinary rectors not being sufficient for them, they on some occasions elected