thirteen per cent. additional on the exchange, from the condition of the English currency; while the Protector, on his side, would pay interest in 'kerseys, lead, and bell-metal.' The lead and bells he would take from the churches and chantries; the kerseys, it is to be hoped in charity, he did not purchase of the manufacturers in the base coin which they were compelled to accept as genuine. Never before, and never since, has an English Government been reduced to shifts so scandalous.[1]
The relations with France were more dangerous than if war had been declared. From many quarters the Protector was warned that an attack would be made on Boulogne in the summer. The council entreated him to reinforce the garrison, but he was busy with his own
- ↑ See the Letters of the Council to Mr Damosell at Antwerp: Flanders MSS. Edward VI. State Paper Office. The character of the correspondence may be judged from such specimens as these:—'Forsomuch as the exchange falleth daily so sore, if you can devise to bargain with some of them to take kerseys or cloths for the money, and devise by what means the King might after that sort save the loss of the interest, and such exchange as he doth now sustain, ye should do right well in it, and deserve thanks.'
'When ye write that ye may have money to a 100,000l. upon interest, we would gladly know whether you could bargain with them, considering the fall of the exchange, that they would take payment in cloths and kerseys,' &c. &c.
It ought to be said that the Continental Governments were taking up money at the same careless rate; but the Continental Governments were also careless of tyranny to an extent beyond what the English council could venture on.
'When ye write,' they say. with a sigh of envy, 'of the Emperor taking on interest 14, 15, or 16 upon the 100, we understand that by Jasper Douchy's policy and other means he doth so order the matter that of what interest soever he taketh money, he maketh merchants and others there to bear the burden, and so be to him all one. The which we do not see can be like to the King's Majesty.'—Same to Same: MS. Ibid.
