What is the effect of bailment for reward?

In the seminal bailment case of Coggs v. Bernard (1704), [1558-1774] All E.R. Rep. 1, Holt C.J. described bailment for reward as being necessary for the safety of all persons, whose affairs oblige them to trust carriers. Otherwise, these carriers might have an opportunity of undoing all persons with whom they deal, by combining with thieves and undertaking clandestine activities.

As I have stated my discussion of bailment in general is to be brief and it is not my intention to consider the classification of the types of bailment as outlined in Coggs v. Bernard, supra, but I will at this time turn to the rule which is attached to the Law of Bailment and which, it is alleged, has application to the matter before me. This rule appears to give special rights or create a fiction which applies to bailees.