Sentence:  The age in which all thought that trades must be established by bounties  and prohibitions; that manufacturers needed their materials and qualities and prices to be prescribed; and that the value of money could be determined by law; was an age which unavoidably <WSD>cherished</WSD> the notions that a child's mind could be made to order; that its powers were to be imparted by the schoolmaster; that it was a receptacle into which knowledge was to be put and there built up after its teacher's ideal. 
Meaning of the word marked with <WSD> tags:  To have a deep appreciation of; to hold dear.